SG Capital Management LLC Acquires New Shares in Green Dot Co. (NYSE:GDOT)

SG Capital Management LLC acquired a new stake in shares of Green Dot Co. (NYSE:GDOT) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 455,971 shares of the financial services provider’s stock, valued at approximately $4,254,000. Green Dot comprises about 1.4% of SG Capital Management LLC’s investment portfolio, making the stock its 28th largest position. SG Capital Management LLC owned 0.86% of Green Dot at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its holdings in Green Dot by 11.7% during the first quarter. Assenagon Asset Management S.A. now owns 923,176 shares of the financial services provider’s stock valued at $8,613,000 after buying an additional 97,040 shares in the last quarter. Kent Lake Capital LLC bought a new position in Green Dot during the first quarter valued at about $7,464,000. Charles Schwab Investment Management Inc. raised its holdings in Green Dot by 12.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 749,075 shares of the financial services provider’s stock valued at $7,416,000 after buying an additional 81,846 shares in the last quarter. Smith Graham & Co. Investment Advisors LP raised its holdings in Green Dot by 54.1% during the fourth quarter. Smith Graham & Co. Investment Advisors LP now owns 597,403 shares of the financial services provider’s stock valued at $5,914,000 after buying an additional 209,818 shares in the last quarter. Finally, Hsbc Holdings PLC raised its holdings in Green Dot by 33.3% during the fourth quarter. Hsbc Holdings PLC now owns 340,073 shares of the financial services provider’s stock valued at $3,408,000 after buying an additional 84,894 shares in the last quarter. Institutional investors and hedge funds own 92.56% of the company’s stock.

Green Dot Stock Performance

Shares of Green Dot stock traded down $0.19 during trading on Friday, reaching $9.18. The company’s stock had a trading volume of 516,894 shares, compared to its average volume of 393,130. The business’s fifty day moving average price is $9.57 and its 200-day moving average price is $9.14. The firm has a market cap of $488.47 million, a price-to-earnings ratio of -19.53 and a beta of 0.96. Green Dot Co. has a one year low of $7.30 and a one year high of $19.53.

Green Dot (NYSE:GDOT) last posted its quarterly earnings data on Thursday, May 9th. The financial services provider reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.15). Green Dot had a positive return on equity of 4.48% and a negative net margin of 1.60%. The business had revenue of $447.42 million during the quarter, compared to the consensus estimate of $415.70 million. Sell-side analysts anticipate that Green Dot Co. will post 1.03 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GDOT. Keefe, Bruyette & Woods restated a “market perform” rating and set a $11.00 target price on shares of Green Dot in a report on Monday, July 22nd. StockNews.com upgraded Green Dot from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Green Dot has an average rating of “Hold” and a consensus price target of $10.75.

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.