SG Americas Securities LLC increased its position in Green Dot Co. (NYSE:GDOT) by 211.7% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,410 shares of the financial services provider’s stock after purchasing an additional 11,145 shares during the period. SG Americas Securities LLC’s holdings in Green Dot were worth $1,204,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. James Investment Research Inc. bought a new position in Green Dot in the second quarter worth about $101,000. Bank of Montreal Can bought a new position in Green Dot in the second quarter worth about $165,000. Point72 Asia Hong Kong Ltd lifted its holdings in Green Dot by 17,911.1% in the first quarter. Point72 Asia Hong Kong Ltd now owns 3,242 shares of the financial services provider’s stock worth $208,000 after acquiring an additional 3,224 shares during the last quarter. Everence Capital Management Inc. bought a new position in Green Dot in the second quarter worth about $228,000. Finally, Psagot Investment House Ltd. bought a new position in Green Dot in the first quarter worth about $231,000. Institutional investors and hedge funds own 84.99% of the company’s stock.
In related news, insider Steven W. Streit sold 32,857 shares of the firm’s stock in a transaction that occurred on Thursday, June 21st. The shares were sold at an average price of $77.59, for a total transaction of $2,549,374.63. Following the transaction, the insider now owns 125,775 shares in the company, valued at $9,758,882.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven W. Streit sold 23,922 shares of the firm’s stock in a transaction that occurred on Thursday, June 14th. The shares were sold at an average price of $77.96, for a total transaction of $1,864,959.12. Following the transaction, the insider now owns 131,328 shares in the company, valued at approximately $10,238,330.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 306,335 shares of company stock worth $24,587,705. Corporate insiders own 9.70% of the company’s stock.
GDOT opened at $85.31 on Wednesday. The company has a market cap of $4.50 billion, a PE ratio of 40.41 and a beta of 0.75. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.06. Green Dot Co. has a twelve month low of $46.45 and a twelve month high of $87.13.
Green Dot (NYSE:GDOT) last released its quarterly earnings results on Wednesday, August 8th. The financial services provider reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.11. The company had revenue of $258.30 million for the quarter, compared to analysts’ expectations of $250.18 million. Green Dot had a return on equity of 14.26% and a net margin of 12.73%. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 earnings per share. analysts anticipate that Green Dot Co. will post 2.4 earnings per share for the current year.
A number of equities analysts have issued reports on the stock. SunTrust Banks raised their target price on shares of Green Dot to $100.00 and gave the stock a “buy” rating in a report on Thursday, August 9th. Craig Hallum raised their target price on shares of Green Dot from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, May 10th. Citigroup raised their target price on shares of Green Dot from $77.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, August 9th. Morgan Stanley raised their target price on shares of Green Dot from $67.00 to $73.00 and gave the stock a “$81.43” rating in a report on Thursday, July 19th. Finally, Zacks Investment Research raised shares of Green Dot from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a report on Wednesday, July 11th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Green Dot presently has an average rating of “Buy” and an average price target of $79.00.
Green Dot Profile
Green Dot Corporation, together with its subsidiaries, operates as a pro-consumer bank holding company that provides personal banking for the masses. It operates through two segments, Account Services and Processing, and Settlement Services. The company offers deposit as account programs, such reloadable prepaid debit cards under the consumer brand names of GPR cards, consumer checking accounts, small business checking accounts, network-branded gift cards, secured credit cards, and other financial services.
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