Verition Fund Management LLC Decreases Holdings in Green Dot Co. (NYSE:GDOT)

Verition Fund Management LLC lowered its holdings in Green Dot Co. (NYSE:GDOT) by 37.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 11,738 shares of the financial services provider’s stock after selling 7,044 shares during the quarter. Verition Fund Management LLC’s holdings in Green Dot were worth $137,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. nVerses Capital LLC acquired a new position in Green Dot in the second quarter valued at approximately $25,000. Nisa Investment Advisors LLC boosted its holdings in shares of 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 buying an additional 1,609 shares in the last quarter. Quarry LP purchased a new position in shares of Green Dot in the 2nd quarter valued at $32,000. Headlands Technologies LLC raised its stake in Green Dot by 44.3% during the 2nd quarter. Headlands Technologies LLC now owns 3,957 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 1,214 shares in the last quarter. Finally, Torno Capital LLC purchased a new stake in Green Dot in the second quarter valued at $38,000. Institutional investors and hedge funds own 92.56% of the company’s stock.

Insider Buying and Selling at Green Dot

In other news, major shareholder Topline Capital Partners, Lp bought 162,243 shares of the stock in a transaction dated Tuesday, September 24th. The shares were acquired at an average price 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 trade was a 2.71 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Topline Capital Management, Ll purchased 36,671 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were purchased at an average cost 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 of the company’s stock, valued at $74,882,820.78. This represents a 0.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 334,037 shares of company stock valued at $3,862,091 in the last ninety days. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Barclays raised their price objective on Green Dot from $7.00 to $10.00 and gave the stock an “underweight” rating in a report on Monday, September 23rd. Craig Hallum lifted their price target on Green Dot from $10.00 to $11.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, Green Dot currently has a consensus rating of “Hold” and a consensus price target of $10.75.

Green Dot Price Performance

Shares of NYSE:GDOT opened at $11.21 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.52 and a current ratio of 0.52. Green Dot Co. has a one year low of $7.70 and a one year high of $13.58. The company has a 50-day simple moving average of $11.10 and a 200-day simple moving average of $10.57. The stock has a market capitalization of $602.95 million, a price-to-earnings ratio of -10.68 and a beta of 0.90.

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.