Green Dot (NYSE:GDOT) Shares Gap Up on Insider Buying Activity

Green Dot Co. (NYSE:GDOT)’s share price gapped up before the market opened on Wednesday after an insider bought additional shares in the company. The stock had previously closed at $11.02, but opened at $11.62. Green Dot shares last traded at $11.13, with a volume of 27,327 shares trading hands.

Specifically, major shareholder Topline Capital Partners, Lp purchased 162,243 shares of the stock in a transaction dated Tuesday, September 24th. The shares were purchased at an average cost of $11.87 per share, with a total value of $1,925,824.41. Following the completion of the acquisition, the insider now directly owns 6,157,665 shares in the company, valued at approximately $73,091,483.55. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Topline Capital Management, Ll bought 36,671 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were bought at an average price of $12.49 per share, with a total value of $458,020.79. Following the completion of the purchase, the insider now owns 5,995,422 shares in the company, valued at approximately $74,882,820.78. The disclosure for this purchase can be found here.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Barclays boosted their price target on Green Dot from $7.00 to $10.00 and gave the company an “underweight” rating in a research note on Monday, September 23rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $11.00 price objective on shares of Green Dot in a research report on Monday, July 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $11.50.

Green Dot Stock Down 0.5 %

The business has a 50 day simple moving average of $10.77 and a two-hundred day simple moving average of $9.83. The firm has a market cap of $583.18 million, a PE ratio of -23.30 and a beta of 0.91.

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

Institutional Investors Weigh In On Green Dot

A number of institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC boosted its position in Green Dot by 162.0% during the second quarter. Nisa Investment Advisors LLC now owns 2,602 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 1,609 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Green Dot in the 2nd quarter valued at approximately $25,000. 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 worth $26,000 after acquiring an additional 1,293 shares in the last quarter. UMB Bank n.a. grew its stake in Green Dot by 98.3% in the first quarter. UMB Bank n.a. now owns 2,855 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 1,415 shares in the last quarter. Finally, Quarry LP bought a new stake in shares of Green Dot in the 2nd quarter valued at approximately $32,000. 92.56% of the stock is currently owned by institutional investors and hedge funds.

Green Dot Company Profile

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.