Martingale Asset Management L P Raises Stake in Green Dot Co. (NYSE:GDOT)

Martingale Asset Management L P lifted its position in shares of Green Dot Co. (NYSE:GDOT) by 3.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 93,596 shares of the financial services provider’s stock after buying an additional 3,300 shares during the quarter. Martingale Asset Management L P owned approximately 0.17% of Green Dot worth $1,096,000 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 company. nVerses Capital LLC acquired a new stake in shares of Green Dot in the second quarter worth approximately $25,000. Nisa Investment Advisors LLC boosted its position 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 worth $25,000 after acquiring an additional 1,609 shares during the last quarter. Quarry LP acquired a new stake in shares of Green Dot in the second quarter worth approximately $32,000. Headlands Technologies LLC boosted its position in shares of Green Dot by 44.3% in the second quarter. Headlands Technologies LLC now owns 3,957 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 1,214 shares during the last quarter. Finally, Torno Capital LLC acquired a new stake in shares of Green Dot in the second quarter worth approximately $38,000. 92.56% of the stock is currently owned by hedge funds and other institutional investors.

Green Dot Stock Performance

Shares of GDOT stock opened at $10.27 on Monday. The firm’s 50 day moving average price is $11.25 and its two-hundred day moving average price is $10.51. Green Dot Co. has a fifty-two week low of $7.70 and a fifty-two week high of $13.58. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.05. The stock has a market cap of $552.42 million, a price-to-earnings ratio of -9.78 and a beta of 0.91.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Barclays raised their target price on shares of Green Dot from $7.00 to $10.00 and gave the stock an “underweight” rating in a research report on Monday, September 23rd. Craig Hallum lifted their price target on shares of Green Dot from $10.00 to $11.00 and gave the company a “hold” rating in a research report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.75.

Insider Transactions at Green Dot

In other news, major shareholder Topline Capital Partners, Lp bought 135,123 shares of Green Dot stock in a transaction dated Friday, November 8th. The shares were acquired at an average cost of $10.94 per share, with a total value of $1,478,245.62. Following the completion of the transaction, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Topline Capital Management, Ll bought 36,671 shares of Green Dot stock in a transaction dated Monday, September 23rd. The shares were purchased at an average cost of $12.49 per share, for a total transaction of $458,020.79. Following the completion of the transaction, the insider now owns 5,995,422 shares of the company’s stock, valued at approximately $74,882,820.78. This represents a 0.62 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 334,037 shares of company stock valued at $3,862,091. Corporate insiders own 1.10% of the company’s stock.

Green Dot 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.