Point72 Asset Management L.P. Grows Stock Holdings in Green Dot Co. (NYSE:GDOT)

Point72 Asset Management L.P. boosted its stake in shares of Green Dot Co. (NYSE:GDOT) by 7.3% in the second quarter, Holdings Channel reports. The fund owned 21,130 shares of the financial services provider’s stock after purchasing an additional 1,430 shares during the period. Point72 Asset Management L.P.’s holdings in Green Dot were worth $200,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quarry LP acquired a new stake in shares of Green Dot during the second quarter worth $32,000. Algert Global LLC lifted its position in Green Dot by 4.0% in the second quarter. Algert Global LLC now owns 125,524 shares of the financial services provider’s stock valued at $1,186,000 after purchasing an additional 4,774 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Green Dot by 12.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,125 shares of the financial services provider’s stock valued at $200,000 after purchasing an additional 2,331 shares in the last quarter. Dark Forest Capital Management LP acquired a new position in Green Dot during the 2nd quarter worth approximately $232,000. Finally, AQR Capital Management LLC raised its stake in shares of Green Dot by 17.0% during the 2nd quarter. AQR Capital Management LLC now owns 105,339 shares of the financial services provider’s stock worth $995,000 after buying an additional 15,304 shares in the last quarter. 92.56% of the stock is currently owned by hedge funds and other institutional investors.

Green Dot Stock Performance

Shares of GDOT stock opened at $11.02 on Friday. The stock has a market cap of $586.37 million, a PE ratio of -23.45 and a beta of 0.92. Green Dot Co. has a 1 year low of $7.30 and a 1 year high of $13.54. The stock has a fifty day moving average price of $10.86 and a 200 day moving average price of $9.87.

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

Insider Transactions at Green Dot

In related news, insider Topline Capital Management, Ll bought 36,671 shares of Green Dot stock in a transaction that occurred on Monday, September 23rd. The shares were purchased at an average price of $12.49 per share, with a total value of $458,020.79. Following the purchase, the insider now owns 5,995,422 shares in the company, valued at $74,882,820.78. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, major shareholder Topline Capital Partners, Lp bought 162,243 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were purchased at an average price of $11.87 per share, for a total transaction of $1,925,824.41. Following the completion of the transaction, the insider now owns 6,157,665 shares in the company, valued at $73,091,483.55. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Topline Capital Management, Ll purchased 36,671 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was acquired at an average price of $12.49 per share, with a total value of $458,020.79. Following the completion of the acquisition, the insider now directly owns 5,995,422 shares in the company, valued at $74,882,820.78. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

GDOT has been the topic of a number of analyst reports. Craig Hallum lifted their price target on Green Dot from $10.00 to $11.00 and gave the company a “hold” rating in a research note on Friday. Keefe, Bruyette & Woods restated a “market perform” rating and set a $11.00 target price on shares of Green Dot in a research report on Monday, July 22nd. Finally, Barclays increased their price target on shares of Green Dot from $7.00 to $10.00 and gave the company an “underweight” rating in a report on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $10.75.

Green Dot 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.