Connors Investor Services Inc. Sells 8,430 Shares of Green Dot Co. (NYSE:GDOT)

Connors Investor Services Inc. reduced its holdings in Green Dot Co. (NYSE:GDOT) by 3.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 227,694 shares of the financial services provider’s stock after selling 8,430 shares during the period. Connors Investor Services Inc.’s holdings in Green Dot were worth $2,152,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Kent Lake Capital LLC purchased a new position in Green Dot in the first quarter worth about $7,464,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Green Dot by 12.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 749,075 shares of the financial services provider’s stock worth $7,416,000 after purchasing an additional 81,846 shares during the period. Bank of New York Mellon Corp increased its position in shares of Green Dot by 17.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 544,166 shares of the financial services provider’s stock valued at $5,142,000 after purchasing an additional 82,022 shares during the last quarter. Thompson Siegel & Walmsley LLC raised its holdings in Green Dot by 24.9% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 525,377 shares of the financial services provider’s stock valued at $4,965,000 after buying an additional 104,829 shares during the period. Finally, SG Capital Management LLC purchased a new position in Green Dot during the first quarter worth $4,254,000. 92.56% of the stock is currently owned by institutional investors.

Green Dot Stock Up 1.9 %

Shares of NYSE:GDOT opened at $11.74 on Tuesday. The business’s 50 day moving average is $10.25 and its 200 day moving average is $9.57. The stock has a market cap of $624.69 million, a P/E ratio of -24.98 and a beta of 0.91. Green Dot Co. has a 52-week low of $7.30 and a 52-week high of $14.54.

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

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $11.00 target price on shares of Green Dot in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Green Dot has an average rating of “Hold” and an average price target of $10.75.

Green Dot 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.