Millennium Management LLC Cuts Stock Holdings in Green Dot Co. (NYSE:GDOT)

Millennium Management LLC trimmed its position in shares of Green Dot Co. (NYSE:GDOT) by 59.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 285,298 shares of the financial services provider’s stock after selling 419,890 shares during the period. Millennium Management LLC’s holdings in Green Dot were worth $2,696,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. SG Capital Management LLC acquired a new stake in Green Dot during the 1st quarter worth $4,254,000. American Century Companies Inc. boosted its stake in Green Dot by 79.0% during the 2nd quarter. American Century Companies Inc. now owns 322,692 shares of the financial services provider’s stock worth $3,049,000 after purchasing an additional 142,377 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Green Dot by 41.4% during the 1st quarter. BNP Paribas Financial Markets now owns 157,703 shares of the financial services provider’s stock worth $1,471,000 after purchasing an additional 46,179 shares during the last quarter. Quest Partners LLC acquired a new stake in Green Dot during the 2nd quarter worth $685,000. Finally, State Board of Administration of Florida Retirement System boosted its stake in Green Dot by 40.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 18,689 shares of the financial services provider’s stock worth $174,000 after purchasing an additional 5,390 shares during the last quarter. 92.56% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Green Dot

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

Green Dot Price Performance

NYSE GDOT opened at $11.35 on Wednesday. Green Dot Co. has a 1 year low of $7.30 and a 1 year high of $12.99. The company has a market capitalization of $603.93 million, a PE ratio of -24.15 and a beta of 0.92. The company has a fifty day moving average of $11.07 and a two-hundred day moving average of $9.96.

Green Dot (NYSE:GDOT) last announced its earnings results on Thursday, August 8th. The financial services provider reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. Green Dot had a negative net margin of 3.41% and a positive return on equity of 4.01%. The business 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 company earned $0.20 earnings per share. The business’s revenue was up 11.3% compared to the same quarter last year. On average, research analysts expect that Green Dot Co. will post 1 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Barclays lifted their target price on shares of Green Dot from $7.00 to $10.00 and gave the stock an “underweight” rating in a research note on Monday, September 23rd. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $11.00 price target on shares of Green Dot in a research report on Monday, July 22nd. Finally, Craig Hallum boosted their price target on shares of Green Dot from $10.00 to $11.00 and gave the company a “hold” rating in a research report on Friday, October 4th. One 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $10.75.

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.