Rhumbline Advisers Boosts Stock Position in Green Dot Co. (NYSE:GDOT)

Rhumbline Advisers raised its stake in shares of Green Dot Co. (NYSE:GDOT) by 5.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 158,748 shares of the financial services provider’s stock after acquiring an additional 8,392 shares during the period. Rhumbline Advisers owned approximately 0.30% of Green Dot worth $1,500,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Headlands Technologies LLC grew its holdings in Green Dot by 89.2% during the 1st quarter. Headlands Technologies LLC now owns 2,743 shares of the financial services provider’s stock valued at $26,000 after buying an additional 1,293 shares during the last quarter. UMB Bank n.a. raised its position in shares of Green Dot by 98.3% in the 1st quarter. UMB Bank n.a. now owns 2,855 shares of the financial services provider’s stock worth $27,000 after buying an additional 1,415 shares during the period. SummerHaven Investment Management LLC increased its holdings in Green Dot by 4.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 39,707 shares of the financial services provider’s stock valued at $375,000 after purchasing an additional 1,524 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Green Dot by 162.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,602 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 1,609 shares in the last quarter. Finally, Illinois Municipal Retirement Fund grew its stake in shares of Green Dot by 6.4% during the first quarter. Illinois Municipal Retirement Fund now owns 26,954 shares of the financial services provider’s stock valued at $251,000 after acquiring an additional 1,615 shares in the last quarter. Institutional investors and hedge funds own 92.56% of the company’s stock.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods restated a “market perform” rating and set a $11.00 target price on shares of Green Dot in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $10.75.

Green Dot Stock Performance

NYSE:GDOT opened at $12.20 on Friday. The company has a market capitalization of $649.16 million, a price-to-earnings ratio of -25.96 and a beta of 0.91. Green Dot Co. has a one year low of $7.30 and a one year high of $14.10. The stock has a 50-day simple moving average of $10.49 and a 200 day simple moving average of $9.68.

Green Dot (NYSE:GDOT) last issued its earnings results on Thursday, August 8th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. The firm had revenue of $407.10 million for the quarter, compared to analysts’ expectations of $381.87 million. Green Dot had a negative net margin of 3.41% and a positive return on equity of 4.01%. Green Dot’s revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the company posted $0.20 earnings per share. On average, equities research analysts forecast that Green Dot Co. will post 1 EPS for the current fiscal year.

About Green Dot

Green Dot Corporation, a financial technology and registered bank holding company, provides various financial services to consumers and businesses in the United States. It operates through three segments: Consumer Services, Business to Business Services, and Money Movement Services. The company provides deposit account programs, including consumer and small business checking account products, network-branded reloadable prepaid debit cards and gift cards, and secured credit programs.