Portolan Capital Management LLC Has $21.69 Million Stake in Green Dot Corporation $GDOT

Portolan Capital Management LLC boosted its position in Green Dot Corporation (NYSE:GDOT) by 15.3% during the third quarter, Holdings Channel reports. The institutional investor owned 1,615,280 shares of the financial services provider’s stock after purchasing an additional 214,152 shares during the quarter. Green Dot comprises approximately 1.2% of Portolan Capital Management LLC’s portfolio, making the stock its 27th largest holding. Portolan Capital Management LLC’s holdings in Green Dot were worth $21,693,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Marshall Wace LLP raised its holdings in Green Dot by 29.9% during the third quarter. Marshall Wace LLP now owns 1,113,986 shares of the financial services provider’s stock worth $14,961,000 after acquiring an additional 256,254 shares in the last quarter. Martingale Asset Management L P raised its holdings in Green Dot by 98.5% in the 3rd quarter. Martingale Asset Management L P now owns 155,969 shares of the financial services provider’s stock valued at $2,095,000 after acquiring an additional 77,376 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Green Dot by 0.3% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,226,244 shares of the financial services provider’s stock worth $16,468,000 after purchasing an additional 3,121 shares during the period. Franklin Resources Inc. acquired a new stake in shares of Green Dot during the third quarter worth $342,000. Finally, Dimensional Fund Advisors LP raised its stake in Green Dot by 6.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,780,104 shares of the financial services provider’s stock worth $37,341,000 after purchasing an additional 179,653 shares in the last quarter. 92.56% of the stock is owned by institutional investors.

Green Dot Stock Down 6.2%

Shares of GDOT opened at $10.54 on Friday. The stock’s 50-day moving average price is $12.00 and its two-hundred day moving average price is $12.58. Green Dot Corporation has a 12 month low of $6.59 and a 12 month high of $15.41. The company has a market capitalization of $583.85 million, a PE ratio of -12.39 and a beta of 0.82. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.07.

Analysts Set New Price Targets

Several equities analysts have weighed in on GDOT shares. Northland Securities set a $14.25 price objective on Green Dot and gave the company a “market perform” rating in a report on Tuesday, November 25th. Wall Street Zen downgraded Green Dot from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Green Dot in a research report on Thursday, January 22nd. Four research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $12.08.

Green Dot Profile

Green Dot Corporation (NYSE: GDOT) is a financial technology and bank holding company that provides prepaid debit cards, cash reload processing services and consumer banking products through its subsidiary, Green Dot Bank. The firm offers reloadable prepaid cards under its own brand and through partnerships with retailers, payments networks and banks. In addition to consumer-focused prepaid card accounts, Green Dot delivers payroll card services, government disbursement programs and B2B payment solutions that enable businesses to distribute funds digitally to end users.

Founded in 1999 by Steve Streit and headquartered in Austin, Texas, Green Dot began as a prepaid MasterCard provider sold through retail outlets.