Green Dot (NYSE:GDOT) Hits New 52-Week High – Here’s Why

Green Dot Co. (NYSE:GDOT) reached a new 52-week high during trading on Wednesday . The stock traded as high as $13.12 and last traded at $13.11, with a volume of 79187 shares. The stock had previously closed at $11.63.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GDOT. Craig Hallum raised their price objective on Green Dot from $10.00 to $11.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Barclays raised 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. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $11.00 price objective on shares of Green Dot in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $10.75.

Green Dot Trading Up 14.2 %

The company has a market capitalization of $713.27 million, a PE ratio of -12.85 and a beta of 0.91. The firm has a fifty day moving average of $11.45 and a two-hundred day moving average of $10.31.

Green Dot (NYSE:GDOT) last released its quarterly earnings results on Thursday, August 8th. The financial services provider reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. Green Dot had a positive return on equity of 4.01% and a negative net margin of 3.41%. The business had revenue of $407.10 million during the quarter, compared to analyst estimates of $381.87 million. During the same quarter in the prior year, the company posted $0.20 EPS. Green Dot’s quarterly revenue was up 11.3% compared to the same quarter last year. On average, equities analysts expect that Green Dot Co. will post 1 EPS for the current fiscal year.

Insider Activity at Green Dot

In related news, major shareholder Topline Capital Partners, Lp acquired 162,243 shares of Green Dot stock in a transaction that occurred on Tuesday, September 24th. The stock was bought at an average price of $11.87 per share, with a total value of $1,925,824.41. Following the transaction, the insider now directly owns 6,157,665 shares in the company, valued at approximately $73,091,483.55. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Green Dot news, insider Topline Capital Management, Ll bought 36,671 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were acquired at an average cost of $12.49 per share, for a total transaction of $458,020.79. Following the purchase, the insider now owns 5,995,422 shares in the company, valued at approximately $74,882,820.78. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Topline Capital Partners, Lp bought 162,243 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were acquired at an average price of $11.87 per share, for a total transaction of $1,925,824.41. Following the completion of the purchase, the insider now owns 6,157,665 shares in the company, valued at approximately $73,091,483.55. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Green Dot

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC raised its holdings in Green Dot by 162.0% during the second quarter. Nisa Investment Advisors LLC now owns 2,602 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 1,609 shares during the period. nVerses Capital LLC bought a new stake in Green Dot during the second quarter valued at about $25,000. Headlands Technologies LLC raised its holdings in Green Dot by 89.2% during the first quarter. Headlands Technologies LLC now owns 2,743 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 1,293 shares during the period. Quarry LP bought a new stake in Green Dot during the second quarter valued at about $32,000. Finally, Torno Capital LLC bought a new stake in Green Dot during the second quarter valued at about $38,000. 92.56% of the stock is currently owned by hedge funds and other institutional investors.

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.