Short Interest in Green Dot Co. (NYSE:GDOT) Rises By 29.7%

Green Dot Co. (NYSE:GDOT) was the recipient of a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 2,050,000 shares, an increase of 29.7% from the September 30th total of 1,580,000 shares. Approximately 4.0% of the shares of the company are short sold. Based on an average daily volume of 409,100 shares, the days-to-cover ratio is presently 5.0 days.

Insider Activity

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

Institutional Investors Weigh In On Green Dot

A number of institutional investors and hedge funds have recently made changes to their positions in GDOT. Kent Lake Capital LLC purchased a new stake in shares of Green Dot in the 1st quarter valued at about $7,464,000. Bank of New York Mellon Corp increased its position in shares of Green Dot by 17.7% in the second quarter. Bank of New York Mellon Corp now owns 544,166 shares of the financial services provider’s stock worth $5,142,000 after purchasing an additional 82,022 shares during the last quarter. Thompson Siegel & Walmsley LLC raised its stake in Green Dot by 24.9% in the second quarter. Thompson Siegel & Walmsley LLC now owns 525,377 shares of the financial services provider’s stock valued at $4,965,000 after purchasing an additional 104,829 shares in the last quarter. SG Capital Management LLC bought a new stake in Green Dot during the first quarter valued at approximately $4,254,000. Finally, American Century Companies Inc. grew its stake in Green Dot by 79.0% in the 2nd quarter. American Century Companies Inc. now owns 322,692 shares of the financial services provider’s stock worth $3,049,000 after buying an additional 142,377 shares in the last quarter. Hedge funds and other institutional investors own 92.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on GDOT shares. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $11.00 price objective on shares of Green Dot in a research note on Monday, July 22nd. Barclays upped their price target on shares of Green Dot from $7.00 to $10.00 and gave the company an “underweight” rating in a research note on Monday, September 23rd. Finally, Craig Hallum raised their price objective on shares of Green Dot from $10.00 to $11.00 and gave the stock a “hold” rating in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Green Dot currently has a consensus rating of “Hold” and a consensus target price of $10.75.

Green Dot Stock Down 1.3 %

Shares of NYSE GDOT opened at $11.85 on Wednesday. The business has a 50-day simple moving average of $11.41 and a two-hundred day simple moving average of $10.19. Green Dot has a 52 week low of $7.30 and a 52 week high of $12.99. The company has a market cap of $630.27 million, a P/E ratio of -25.20 and a beta of 0.92.

Green Dot (NYSE:GDOT) last issued its quarterly earnings data on Thursday, August 8th. The financial services provider reported $0.25 EPS for the quarter, beating the consensus estimate of $0.23 by $0.02. Green Dot had a negative net margin of 3.41% and a positive return on equity of 4.01%. The company had revenue of $407.10 million during the quarter, compared to analysts’ expectations of $381.87 million. During the same quarter in the previous year, the company earned $0.20 earnings per share. Green Dot’s revenue for the quarter was up 11.3% on a year-over-year basis. Equities research analysts anticipate that Green Dot will post 1 EPS for the current year.

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.