Green Dot Co. (NYSE:GDOT) Sees Significant Growth in Short Interest

Green Dot Co. (NYSE:GDOT) saw a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 1,900,000 shares, a growth of 22.6% from the November 30th total of 1,550,000 shares. Based on an average daily volume of 455,500 shares, the short-interest ratio is presently 4.2 days. Approximately 3.6% of the company’s shares are short sold.

Insiders Place Their Bets

In related news, major shareholder Topline Capital Partners, Lp bought 135,123 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was purchased at an average cost of $10.94 per share, for a total transaction of $1,478,245.62. Following the completion of the acquisition, the insider now owns 6,292,788 shares in the company, valued at approximately $68,843,100.72. This trade represents a 2.19 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

Institutional Trading of Green Dot

Several institutional investors have recently modified their holdings of the stock. American Century Companies Inc. grew its stake in Green Dot by 79.0% during the 2nd quarter. American Century Companies Inc. now owns 322,692 shares of the financial services provider’s stock worth $3,049,000 after buying an additional 142,377 shares during the last quarter. FMR LLC boosted its holdings in shares of Green Dot by 62.8% in the third quarter. FMR LLC now owns 43,835 shares of the financial services provider’s stock valued at $513,000 after acquiring an additional 16,917 shares during the period. Barclays PLC grew its position in shares of Green Dot by 342.0% during the third quarter. Barclays PLC now owns 88,504 shares of the financial services provider’s stock worth $1,036,000 after acquiring an additional 68,481 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Green Dot in the 2nd quarter valued at $685,000. Finally, Geode Capital Management LLC raised its position in Green Dot by 9.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,222,996 shares of the financial services provider’s stock valued at $14,324,000 after purchasing an additional 101,008 shares during the last quarter. Hedge funds and other institutional investors own 92.56% of the company’s stock.

Green Dot Stock Up 1.9 %

GDOT stock traded up $0.20 during trading on Tuesday, hitting $10.64. 993,654 shares of the company’s stock were exchanged, compared to its average volume of 547,047. The business has a 50-day moving average price of $10.95 and a two-hundred day moving average price of $10.62. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $572.29 million, a price-to-earnings ratio of -10.13 and a beta of 0.90. Green Dot has a 52-week low of $7.70 and a 52-week high of $13.58.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on GDOT shares. Barclays lifted their price objective on Green Dot from $7.00 to $10.00 and gave the company an “underweight” rating in a research note on Monday, September 23rd. Craig Hallum lifted their price target on shares of Green Dot from $10.00 to $11.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $10.75.

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.