Assenagon Asset Management SA reduced its holdings in Green Dot Co. (NYSE:GDOT – Free Report) by 20.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The company owned 730,030 shares of the financial services provider after selling 193,146 shares during the quarter. Assenagon Asset Management SA owned 1.37% of Green Dot worth $6,899,000, according to its most recent disclosure with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also changed their holdings in GDOT. Headlands Technologies LLC increased 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 worth $26,000 after acquiring an additional 1,293 shares during the period. UMB Bank na increased its stake in shares of Green Dot by 98.3% in the 1st quarter. UMB Bank na now owns 2,855 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 1,415 shares during the last quarter. CWM LLC increased its stake in shares of Green Dot by 39.2% in the second quarter. CWM LLC now owns 6,006 shares of the financial services provider’s stock worth $57,000 after acquiring an additional 1,691 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Green Dot by 39.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 7,352 shares of the financial services provider’s stock worth $73,000 after acquiring an additional 2,074 shares in the last quarter. Finally, Tidal Investments LLC bought a new position in Green Dot in the first quarter valued at $116,000. Institutional investors and hedge funds own 92.56% of the company’s stock.
Price development of Green Dot shares
NYSE:GDOT shares opened at $10.76 on Friday. The company has a market cap of $572.54 million, a P/E ratio of -22.89, and a beta of 0.96. The company’s 50-day moving average is $9.57 and its 200-day moving average is $9.19. Green Dot Co. has a 52-week low of $7.30 and a 52-week high of $15.90.
Green Dot (NYSE:GDOT – Get Free Report) last released its quarterly earnings results on Thursday, August 8. The financial services provider reported earnings per share of $0.25 for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. The company had revenue of $407.10 million for the quarter, compared to analyst estimates of $381.87 million. Green Dot had a negative net margin of 1.60% and a positive return on equity of 4.48%. The company’s revenue for the quarter increased 11.3% compared to the same quarter last year. During the same period last year, the company generated earnings per share of $0.20. On average, analysts forecast that Green Dot Co. will report earnings per share of $1.03 for the current year.
Wall Street analysts comment
Several brokerage firms have issued reports on GDOT. Keefe, Bruyette & Woods reiterated a “market perform” rating and an $11.00 price target on shares of Green Dot in a report on Monday, July 22nd. StockNews.com upgraded shares of Green Dot from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. One investment analyst has rated the stock with a sell rating, three have assigned a “hold” rating and one has given the company’s stock a buy rating. According to MarketBeat.com, Green Dot currently has a consensus rating of “hold” and a consensus price target of $10.75.
Check out our latest report on GDOT
Green Dot Profile
(Free report)
Green Dot Corporation, a financial technology and registered bank holding company, provides various financial services to consumers and businesses in the United States. The Company operates through three segments: Consumer Services, Business-to-Business Services, and Money Movement Services. The Company offers deposit account programs, including consumer and small business checking account products, reloadable prepaid debit cards and network-branded gift cards, and secured lending programs.
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