Green Dot Co. (NYSE:GDOT) Shares Acquired by Millennium Management LLC

Millennium Management LLC grew its position in Green Dot Co. (NYSE:GDOT) by 10.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 71,452 shares of the financial services provider’s stock after acquiring an additional 6,844 shares during the quarter. Millennium Management LLC’s holdings in Green Dot were worth $760,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Meeder Asset Management Inc. acquired a new stake in shares of Green Dot during the fourth quarter worth $44,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Green Dot during the fourth quarter worth $84,000. Caxton Associates LP acquired a new stake in shares of Green Dot during the fourth quarter worth $121,000. New York State Common Retirement Fund lifted its holdings in shares of Green Dot by 63.1% during the fourth quarter. New York State Common Retirement Fund now owns 11,892 shares of the financial services provider’s stock worth $127,000 after purchasing an additional 4,600 shares during the period. Finally, Polymer Capital Management US LLC acquired a new stake in shares of Green Dot during the fourth quarter worth $131,000. 92.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods decreased their price target on Green Dot from $12.00 to $10.00 and set a “market perform” rating for the company in a report on Friday, February 28th. Northland Capmk raised Green Dot from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 9th. Northland Securities upgraded Green Dot from a “market perform” rating to an “outperform” rating and set a $12.00 price objective for the company in a research report on Wednesday, April 9th. Wall Street Zen upgraded Green Dot from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Craig Hallum upgraded Green Dot from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Friday, March 14th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Green Dot has an average rating of “Moderate Buy” and an average target price of $11.50.

Insider Activity

In other news, insider Christian Devin Ruppel sold 10,189 shares of the firm’s stock in a transaction on Friday, May 9th. The stock was sold at an average price of $11.00, for a total value of $112,079.00. Following the completion of the transaction, the insider now owns 253,139 shares in the company, valued at $2,784,529. This trade represents a 3.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.40% of the company’s stock.

Green Dot Trading Up 3.7%

NYSE:GDOT opened at $9.58 on Friday. The stock has a fifty day moving average price of $8.56 and a two-hundred day moving average price of $8.97. The stock has a market capitalization of $525.58 million, a price-to-earnings ratio of -9.12 and a beta of 0.73. 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 1 year low of $6.12 and a 1 year high of $13.58.

Green Dot (NYSE:GDOT) last released its quarterly earnings data on Thursday, May 8th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.36. The firm had revenue of $555.96 million during the quarter, compared to analysts’ expectations of $503.20 million. Green Dot had a positive return on equity of 3.84% and a negative net margin of 3.39%. Green Dot’s revenue was up 23.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.59 earnings per share. As a group, sell-side analysts anticipate that Green Dot Co. will post 0.87 earnings per share for the current fiscal year.

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.