Green Dot (NYSE:GDOT) Stock Price Down 4% – Here’s Why

Green Dot Co. (NYSE:GDOT)’s stock price was down 4% during mid-day trading on Friday . The company traded as low as $10.12 and last traded at $10.15. Approximately 167,455 shares were traded during trading, a decline of 59% from the average daily volume of 408,731 shares. The stock had previously closed at $10.57.

Analyst Ratings Changes

A number of research firms have commented on GDOT. Craig Hallum raised their price objective on Green Dot from $10.00 to $11.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Barclays upped their price target on shares of Green Dot from $7.00 to $10.00 and gave the stock an “underweight” rating in a report on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $10.75.

Green Dot Stock Performance

The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.05. The company’s fifty day simple moving average is $10.90 and its 200 day simple moving average is $10.63. The stock has a market capitalization of $541.10 million, a P/E ratio of -9.58 and a beta of 0.90.

Insider Transactions at Green Dot

In other news, insider Topline Capital Management, Ll sold 380,611 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $10.44, for a total transaction of $3,973,578.84. Following the sale, the insider now owns 5,708,126 shares in the company, valued at $59,592,835.44. This represents a 6.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Topline Capital Partners, Lp purchased 135,123 shares of Green Dot stock in a transaction dated Friday, November 8th. The stock was bought at an average price of $10.94 per share, with a total value of $1,478,245.62. Following the completion of the purchase, the insider now directly owns 6,292,788 shares of the company’s stock, valued at approximately $68,843,100.72. This trade represents a 2.19 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 959,180 shares of company stock worth $10,071,696. 1.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Headlands Technologies LLC grew its holdings in Green Dot by 44.3% during the 2nd quarter. Headlands Technologies LLC now owns 3,957 shares of the financial services provider’s stock valued at $37,000 after buying an additional 1,214 shares in the last quarter. Point72 Asset Management L.P. grew its position in Green Dot by 7.3% in the second quarter. Point72 Asset Management L.P. now owns 21,130 shares of the financial services provider’s stock worth $200,000 after acquiring an additional 1,430 shares in the last quarter. Amalgamated Bank raised its holdings in Green Dot by 14.0% during the 3rd quarter. Amalgamated Bank now owns 15,607 shares of the financial services provider’s stock valued at $183,000 after buying an additional 1,920 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Green Dot by 12.4% in the second quarter. The Manufacturers Life Insurance Company now owns 21,125 shares of the financial services provider’s stock valued at $200,000 after acquiring an additional 2,331 shares during the period. Finally, nVerses Capital LLC purchased a new position in shares of Green Dot during the second quarter valued at approximately $25,000. 92.56% of the stock is owned by hedge funds and other institutional investors.

About Green Dot

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.