SG Capital Management LLC Invests $4.25 Million in Green Dot Co. (NYSE:GDOT)

SG Capital Management LLC bought a new position in shares of Green Dot Co. (NYSE:GDOT) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 455,971 shares of the financial services provider’s stock, valued at approximately $4,254,000. Green Dot accounts for about 1.4% of SG Capital Management LLC’s investment portfolio, making the stock its 28th biggest position.

Several other hedge funds also recently made changes to their positions in the business. SG Americas Securities LLC increased its holdings in shares of Green Dot by 4.9% during the fourth quarter. SG Americas Securities LLC now owns 27,367 shares of the financial services provider’s stock worth $271,000 after purchasing an additional 1,285 shares during the period. Headlands Technologies LLC boosted its position in shares of Green Dot by 89.2% during the 1st quarter. Headlands Technologies LLC now owns 2,743 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 1,293 shares in the last quarter. UMB Bank n.a. boosted its position in shares of Green Dot by 98.3% during the 1st quarter. UMB Bank n.a. now owns 2,855 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 1,415 shares in the last quarter. Illinois Municipal Retirement Fund boosted its position in shares of Green Dot by 6.4% during the 1st quarter. Illinois Municipal Retirement Fund now owns 26,954 shares of the financial services provider’s stock worth $251,000 after acquiring an additional 1,615 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Green Dot by 39.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 7,352 shares of the financial services provider’s stock worth $73,000 after acquiring an additional 2,074 shares in the last quarter. 92.56% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GDOT has been the topic of several analyst reports. StockNews.com upgraded shares of Green Dot from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $11.00 price target on shares of Green Dot in a research report on Monday, July 22nd. One investment 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 data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $10.75.

Green Dot Trading Down 2.0 %

Green Dot stock traded down $0.19 during mid-day trading on Friday, reaching $9.18. The company had a trading volume of 516,894 shares, compared to its average volume of 393,130. Green Dot Co. has a fifty-two week low of $7.30 and a fifty-two week high of $19.53. The company has a market cap of $488.47 million, a P/E ratio of -19.53 and a beta of 0.96. The business has a fifty day simple moving average of $9.57 and a 200 day simple moving average of $9.14.

Green Dot (NYSE:GDOT) last issued its earnings results on Thursday, May 9th. The financial services provider reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.15). The company had revenue of $447.42 million during the quarter, compared to analyst estimates of $415.70 million. Green Dot had a negative net margin of 1.60% and a positive return on equity of 4.48%. Research analysts forecast that Green Dot Co. will post 1.03 EPS for the current year.

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.