Green Dot (NYSE:GDOT) Trading Down 4% – Should You Sell?

Green Dot Co. (NYSE:GDOT)’s stock price traded down 4% during mid-day trading on Wednesday . The company traded as low as $10.23 and last traded at $10.23. 50,380 shares were traded during trading, a decline of 91% from the average session volume of 544,611 shares. The stock had previously closed at $10.66.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. 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 report on Friday, October 4th. Barclays raised their price objective on Green Dot from $7.00 to $10.00 and gave the stock an “underweight” rating in a research report on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $10.75.

Green Dot Price Performance

The company’s 50 day moving average is $11.50 and its 200 day moving average is $10.47. 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 stock has a market capitalization of $551.35 million, a price-to-earnings ratio of -9.74 and a beta of 0.91.

Insider Buying and Selling

In related news, insider Topline Capital Management, Ll acquired 36,671 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were purchased at an average price of $12.49 per share, with a total value of $458,020.79. Following the completion of the acquisition, the insider now owns 5,995,422 shares in the company, valued at approximately $74,882,820.78. This represents a 0.62 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Topline Capital Partners, Lp acquired 135,123 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were bought at an average cost of $10.94 per share, for a total transaction of $1,478,245.62. Following the acquisition, the insider now owns 6,292,788 shares of the company’s stock, valued at $68,843,100.72. This represents a 2.19 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 334,037 shares of company stock worth $3,862,091 in the last ninety days. 1.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Green Dot

A number of institutional investors have recently modified their holdings of the company. SG Capital Management LLC acquired a new position in Green Dot during the first quarter worth approximately $4,254,000. American Century Companies Inc. grew its stake in Green Dot by 79.0% during the second 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 during the period. Quest Partners LLC purchased a new stake in Green Dot during the second quarter worth approximately $685,000. State Board of Administration of Florida Retirement System boosted its stake in shares of Green Dot by 40.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 18,689 shares of the financial services provider’s stock valued at $174,000 after purchasing an additional 5,390 shares during the period. Finally, Thompson Siegel & Walmsley LLC boosted its stake in shares of 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 during the period. Institutional investors and hedge funds own 92.56% of the company’s stock.

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.