State of Tennessee Treasury Department boosted its position in shares of Green Dot Co. (NYSE:GDOT) by 106.8% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 70,000 shares of the financial services provider’s stock after purchasing an additional 36,146 shares during the quarter. State of Tennessee Treasury Department’s holdings in Green Dot were worth $4,246,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of GDOT. Norges Bank bought a new stake in shares of Green Dot during the 4th quarter valued at $46,340,000. Victory Capital Management Inc. boosted its stake in Green Dot by 47.8% in the 4th quarter. Victory Capital Management Inc. now owns 945,039 shares of the financial services provider’s stock worth $75,150,000 after purchasing an additional 305,441 shares during the period. TimesSquare Capital Management LLC acquired a new position in Green Dot in the 1st quarter worth $18,215,000. Bank of New York Mellon Corp boosted its stake in Green Dot by 33.4% in the 4th quarter. Bank of New York Mellon Corp now owns 1,186,853 shares of the financial services provider’s stock worth $94,379,000 after purchasing an additional 297,348 shares during the period. Finally, Copper Rock Capital Partners LLC acquired a new position in shares of Green Dot during the 1st quarter worth about $16,954,000. 86.33% of the stock is currently owned by hedge funds and other institutional investors.
In other Green Dot news, CEO Steven W. Streit sold 7,701 shares of the stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $59.91, for a total transaction of $461,366.91. Following the completion of the sale, the chief executive officer now owns 54,110 shares of the company’s stock, valued at approximately $3,241,730.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark L. Shifke sold 1,250 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $65.11, for a total transaction of $81,387.50. Following the sale, the chief financial officer now directly owns 591,740 shares of the company’s stock, valued at approximately $38,528,191.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 85,105 shares of company stock worth $5,012,924. 7.80% of the stock is owned by insiders.
Green Dot (NYSE:GDOT) last issued its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $1.32 EPS for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.10. The firm had revenue of $340.51 million for the quarter, compared to analyst estimates of $330.17 million. Green Dot had a net margin of 10.56% and a return on equity of 15.74%. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.40 EPS. Research analysts expect that Green Dot Co. will post 2.11 EPS for the current fiscal year.
A number of equities analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Green Dot from a “buy” rating to a “hold” rating in a research note on Tuesday, May 14th. ValuEngine downgraded shares of Green Dot from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th. Loop Capital restated a “buy” rating and set a $75.00 price objective on shares of Green Dot in a research note on Thursday, May 9th. BTIG Research downgraded shares of Green Dot from a “buy” rating to a “neutral” rating in a research note on Thursday, May 9th. Finally, Northland Securities reiterated a “buy” rating and issued a $100.00 target price on shares of Green Dot in a research note on Wednesday, April 17th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $82.71.
Green Dot Profile
Green Dot Corporation operates as a financial technology and bank holding company in the United States. It operates in two segments, Account Services, and Processing and Settlement Services. The company offers deposit account programs, such network-branded reloadable prepaid debit cards under the consumer brand names of GPR cards, consumer and small business checking accounts, network-branded gift cards, secured credit cards, and other financial services.
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