Insider Buying: Green Dot Co. (NYSE:GDOT) Insider Acquires $458,020.79 in Stock

Green Dot Co. (NYSE:GDOT) insider Topline Capital Management, Ll bought 36,671 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were acquired at an average cost of $12.49 per share, with a total value of $458,020.79. Following the completion of the purchase, the insider now owns 5,995,422 shares of the company’s stock, valued at $74,882,820.78. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Green Dot Price Performance

Shares of NYSE GDOT opened at $10.68 on Friday. Green Dot Co. has a one year low of $7.30 and a one year high of $13.54. The business’s 50-day moving average price is $10.80 and its two-hundred day moving average price is $9.84. The company has a market capitalization of $568.02 million, a P/E ratio of -22.71 and a beta of 0.92.

Green Dot (NYSE:GDOT) last posted its earnings results on Thursday, August 8th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $407.10 million during the quarter, compared to analysts’ expectations of $381.87 million. During the same period in the previous year, the company earned $0.20 earnings per share. The company’s revenue was up 11.3% compared to the same quarter last year. On average, equities analysts anticipate that Green Dot Co. will post 1 EPS for the current year.

Institutional Trading of Green Dot

Institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC raised its position in shares of Green Dot by 118.8% in the third quarter. SG Americas Securities LLC now owns 25,687 shares of the financial services provider’s stock valued at $301,000 after purchasing an additional 13,948 shares during the period. Point72 Asset Management L.P. grew its stake in shares of Green Dot by 7.3% in the second quarter. Point72 Asset Management L.P. now owns 21,130 shares of the financial services provider’s stock worth $200,000 after acquiring an additional 1,430 shares during the last quarter. Quarry LP acquired a new position in Green Dot during the 2nd quarter valued at $32,000. Algert Global LLC boosted its holdings in Green Dot by 4.0% in the 2nd quarter. Algert Global LLC now owns 125,524 shares of the financial services provider’s stock valued at $1,186,000 after purchasing an additional 4,774 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in Green Dot by 12.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,125 shares of the financial services provider’s stock worth $200,000 after purchasing an additional 2,331 shares during the last quarter. Institutional investors and hedge funds own 92.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on GDOT shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $11.00 target price on shares of Green Dot in a research report on Monday, July 22nd. Barclays lifted their price objective on shares of Green Dot from $7.00 to $10.00 and gave the stock an “underweight” rating in a research report on Monday, September 23rd. One 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. According to data from MarketBeat, Green Dot has an average rating of “Hold” and a consensus target price of $11.50.

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.