Stephens Investment Management Group LLC boosted its holdings in Green Dot Co. (NYSE:GDOT) by 23.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,106,376 shares of the financial services provider’s stock after buying an additional 211,017 shares during the quarter. Green Dot makes up approximately 1.0% of Stephens Investment Management Group LLC’s investment portfolio, making the stock its 28th largest position. Stephens Investment Management Group LLC’s holdings in Green Dot were worth $54,102,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Tortoise Index Solutions LLC bought a new stake in shares of Green Dot in the 1st quarter valued at $43,000. Manchester Capital Management LLC acquired a new stake in Green Dot in the 1st quarter valued at $53,000. FNY Investment Advisers LLC grew its position in Green Dot by 708.8% in the 1st quarter. FNY Investment Advisers LLC now owns 1,100 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 964 shares during the period. Stephens Inc. AR acquired a new stake in Green Dot in the 1st quarter valued at $105,000. Finally, Advisory Services Network LLC grew its position in Green Dot by 81.8% in the 2nd quarter. Advisory Services Network LLC now owns 2,000 shares of the financial services provider’s stock valued at $98,000 after purchasing an additional 900 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.
GDOT traded up $0.71 during mid-day trading on Thursday, reaching $29.57. 434,680 shares of the stock were exchanged, compared to its average volume of 1,231,339. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.01 and a quick ratio of 1.04. The stock has a market capitalization of $1.48 billion, a PE ratio of 11.69 and a beta of 0.96. The business has a 50 day moving average of $45.90. Green Dot Co. has a 1 year low of $24.19 and a 1 year high of $93.00.
A number of equities analysts have issued reports on the stock. Loop Capital reaffirmed a “buy” rating and set a $75.00 price objective on shares of Green Dot in a report on Thursday, May 9th. Needham & Company LLC cut their price objective on shares of Green Dot to $42.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. TheStreet downgraded shares of Green Dot from a “b-” rating to a “c+” rating in a report on Thursday, August 8th. Barclays set a $41.00 price objective on shares of Green Dot and gave the stock a “buy” rating in a report on Monday. Finally, Citigroup downgraded shares of Green Dot from a “buy” rating to a “neutral” rating in a report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. Green Dot has a consensus rating of “Hold” and an average price target of $53.18.
In related news, Director Glinda Bridgforth-Hodges sold 6,787 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $47.43, for a total value of $321,907.41. Following the transaction, the director now directly owns 2,578 shares of the company’s stock, valued at approximately $122,274.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CRO Brett Narlinger sold 5,532 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $48.87, for a total transaction of $270,348.84. Following the completion of the transaction, the executive now directly owns 81,554 shares in the company, valued at $3,985,543.98. The disclosure for this sale can be found here. Insiders sold a total of 13,238 shares of company stock worth $630,772 over the last three months. 7.80% of the stock is owned by insiders.
About Green Dot
Green Dot Corporation operates as a financial technology and bank holding company in the United States. It operates in two segments, Account Services, and Processing and Settlement Services. The company offers deposit account programs, such network-branded reloadable prepaid debit cards under the consumer brand names of GPR cards, consumer and small business checking accounts, network-branded gift cards, secured credit cards, and other financial services.
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