Green Dot (NYSE:GDOT) Hits New 52-Week High – Here’s Why

Shares of Green Dot Co. (NYSE:GDOT) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $13.12 and last traded at $13.11, with a volume of 79187 shares traded. The stock had previously closed at $11.63.

Analyst Upgrades and Downgrades

GDOT has been the topic of several research reports. Barclays lifted their target price 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 target price on Green Dot from $10.00 to $11.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $11.00 target price on shares of Green Dot in a report on Monday, July 22nd. One research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $10.75.

Green Dot Stock Up 14.2 %

The firm’s 50 day simple moving average is $11.45 and its 200 day simple moving average is $10.31. The company has a market capitalization of $713.27 million, a PE ratio of -12.85 and a beta of 0.91.

Green Dot (NYSE:GDOT) last posted its quarterly earnings data on Thursday, August 8th. The financial services provider reported $0.25 EPS for the quarter, topping the consensus estimate of $0.23 by $0.02. The company had revenue of $407.10 million during the quarter, compared to analyst estimates of $381.87 million. Green Dot had a negative net margin of 3.41% and a positive return on equity of 4.01%. Green Dot’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.20 earnings per share. As a group, sell-side analysts predict that Green Dot Co. will post 1 EPS for the current fiscal year.

Insider Transactions at Green Dot

In other Green Dot news, major shareholder Topline Capital Partners, Lp bought 162,243 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The stock was acquired at an average cost of $11.87 per share, for a total transaction of $1,925,824.41. Following the completion of the transaction, the insider now owns 6,157,665 shares in the company, valued at $73,091,483.55. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Topline Capital Partners, Lp acquired 162,243 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The stock was purchased at an average cost of $11.87 per share, for a total transaction of $1,925,824.41. Following the completion of the acquisition, the insider now directly 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 acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Topline Capital Management, Ll acquired 36,671 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was purchased at an average price 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 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Green Dot

Several institutional investors and hedge funds have recently made changes to their positions in GDOT. Nisa Investment Advisors LLC raised its holdings in shares of 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 acquiring an additional 1,609 shares in the last quarter. nVerses Capital LLC purchased a new position in Green Dot in the second quarter valued at about $25,000. Headlands Technologies LLC grew its stake in Green Dot by 89.2% in the first quarter. Headlands Technologies LLC now owns 2,743 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 1,293 shares during the last quarter. Quarry LP purchased a new position in Green Dot in the second quarter valued at about $32,000. Finally, Torno Capital LLC purchased a new position in Green Dot in the second quarter valued at about $38,000. 92.56% of the stock is currently owned by institutional investors.

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.