Topline Capital Partners, Lp Purchases 162,243 Shares of Green Dot Co. (NYSE:GDOT) Stock

Green Dot Co. (NYSE:GDOT) major shareholder Topline Capital Partners, Lp acquired 162,243 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were purchased at an average price of $11.87 per share, with a total value of $1,925,824.41. Following the transaction, the insider now owns 6,157,665 shares in the company, valued at approximately $73,091,483.55. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Green Dot Stock Performance

Shares of GDOT opened at $10.96 on Thursday. The company has a market capitalization of $583.18 million, a PE ratio of -23.32 and a beta of 0.91. Green Dot Co. has a fifty-two week low of $7.30 and a fifty-two week high of $13.59. The stock has a fifty day moving average of $10.77 and a two-hundred day moving average of $9.83.

Green Dot (NYSE:GDOT) last posted its quarterly earnings results 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 negative net margin of 3.41% and a positive return on equity of 4.01%. The company had revenue of $407.10 million for the quarter, compared to the consensus estimate of $381.87 million. During the same quarter last year, the firm posted $0.20 earnings per share. Green Dot’s revenue was up 11.3% on a year-over-year basis. As a group, equities research analysts forecast that Green Dot Co. will post 1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GDOT has been the subject of several recent analyst reports. Barclays raised their price target on Green Dot from $7.00 to $10.00 and gave the company an “underweight” rating in a report on Monday, September 23rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $11.00 price target on shares of Green Dot in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $11.50.

Institutional Trading of Green Dot

A number of institutional investors and hedge funds have recently bought and sold shares of GDOT. Headlands Technologies LLC raised its holdings in shares of Green Dot by 44.3% during the 2nd quarter. Headlands Technologies LLC now owns 3,957 shares of the financial services provider’s stock valued at $37,000 after buying an additional 1,214 shares during the period. UMB Bank n.a. raised its holdings in shares of Green Dot by 98.3% during 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 during the period. Point72 Asset Management L.P. lifted its holdings in Green Dot by 7.3% in the second quarter. Point72 Asset Management L.P. now owns 21,130 shares of the financial services provider’s stock worth $200,000 after acquiring an additional 1,430 shares during the last quarter. SummerHaven Investment Management LLC lifted its holdings in shares of 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 worth $375,000 after purchasing an additional 1,524 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in Green Dot by 162.0% in the second 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 during the last quarter. Institutional investors and hedge funds own 92.56% of the company’s stock.

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.