Piermont Capital Management Inc. boosted its holdings in shares of Green Dot Co. (NYSE:GDOT) by 2.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 64,019 shares of the financial services provider’s stock after buying an additional 1,420 shares during the period. Green Dot makes up about 1.4% of Piermont Capital Management Inc.’s portfolio, making the stock its largest position. Piermont Capital Management Inc. owned approximately 0.12% of Green Dot worth $4,107,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in GDOT. Eagle Asset Management Inc. acquired a new position in Green Dot during the fourth quarter worth $82,309,000. Carillon Tower Advisers Inc. acquired a new position in Green Dot during the fourth quarter worth $57,764,000. BlackRock Inc. raised its holdings in Green Dot by 8.2% during the fourth quarter. BlackRock Inc. now owns 6,457,247 shares of the financial services provider’s stock worth $389,113,000 after buying an additional 490,902 shares during the last quarter. OppenheimerFunds Inc. raised its holdings in Green Dot by 2,582.7% during the fourth quarter. OppenheimerFunds Inc. now owns 322,455 shares of the financial services provider’s stock worth $19,432,000 after buying an additional 310,435 shares during the last quarter. Finally, Stephens Investment Management Group LLC raised its holdings in Green Dot by 226.9% during the fourth quarter. Stephens Investment Management Group LLC now owns 382,882 shares of the financial services provider’s stock worth $23,072,000 after buying an additional 265,757 shares during the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.
Green Dot opened at $71.43 on Monday, according to MarketBeat.com. The stock has a market cap of $3.71 billion, a P/E ratio of 45.21 and a beta of 0.76. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.05 and a quick ratio of 1.05. Green Dot Co. has a fifty-two week low of $35.66 and a fifty-two week high of $74.23.
Green Dot (NYSE:GDOT) last posted its quarterly earnings results on Wednesday, May 9th. The financial services provider reported $1.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.11. The company had revenue of $315.00 million during the quarter, compared to analyst estimates of $297.25 million. Green Dot had a net margin of 12.10% and a return on equity of 14.21%. The firm’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.00 earnings per share. analysts predict that Green Dot Co. will post 2.35 earnings per share for the current year.
GDOT has been the subject of several recent analyst reports. Craig Hallum upped their target price on shares of Green Dot from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, May 10th. ValuEngine upgraded shares of Green Dot from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 2nd. Zacks Investment Research upgraded shares of Green Dot from a “sell” rating to a “hold” rating in a research note on Wednesday, May 2nd. Compass Point lowered shares of Green Dot from a “buy” rating to a “neutral” rating in a research note on Tuesday, March 13th. Finally, William Blair reiterated an “outperform” rating on shares of Green Dot in a research note on Monday, February 12th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. Green Dot presently has a consensus rating of “Buy” and an average target price of $63.64.
In other Green Dot news, CAO Jess Unruh sold 5,670 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $65.00, for a total transaction of $368,550.00. Following the completion of the transaction, the chief accounting officer now owns 99,075 shares in the company, valued at $6,439,875. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven W. Streit sold 23,922 shares of the stock in a transaction dated Thursday, May 17th. The stock was sold at an average price of $72.55, for a total transaction of $1,735,541.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 420,144 shares of company stock valued at $27,019,303. 9.70% of the stock is owned by company insiders.
Green Dot Profile
Green Dot Corporation, together with its subsidiaries, operates as a pro-consumer bank holding company that provides personal banking for the masses. It operates through two segments, Account Services and Processing, and Settlement Services. The company offers deposit as account programs, such reloadable prepaid debit cards under the consumer brand names of GPR cards, consumer checking accounts, small business checking accounts, network-branded gift cards, secured credit cards, and other financial services.
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