Assenagon Asset Management S.A. Lowers Holdings in Green Dot Corporation (NYSE:GDOT)

Assenagon Asset Management S.A. lessened its stake in shares of Green Dot Corporation (NYSE:GDOT - Free Report) by 20.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 395,393 shares of the financial services provider's stock after selling 100,507 shares during the quarter. Assenagon Asset Management S.A. owned about 0.73% of Green Dot worth $3,337,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Topline Capital Management LLC purchased a new position in shares of Green Dot during the 4th quarter valued at about $57,209,000. Vanguard Group Inc. lifted its holdings in Green Dot by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 3,584,651 shares of the financial services provider's stock valued at $38,141,000 after purchasing an additional 71,534 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Green Dot by 20.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,114,292 shares of the financial services provider's stock worth $22,496,000 after purchasing an additional 363,831 shares during the period. Geode Capital Management LLC boosted its position in shares of Green Dot by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 1,237,767 shares of the financial services provider's stock worth $13,173,000 after purchasing an additional 14,771 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of Green Dot by 42.5% in the fourth quarter. American Century Companies Inc. now owns 1,041,034 shares of the financial services provider's stock worth $11,077,000 after purchasing an additional 310,492 shares in the last quarter. 92.56% of the stock is owned by hedge funds and other institutional investors.

Green Dot Price Performance

Shares of NYSE GDOT traded down $0.40 during mid-day trading on Thursday, hitting $9.49. 802,503 shares of the company's stock traded hands, compared to its average volume of 658,219. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.58 and a quick ratio of 0.58. Green Dot Corporation has a 1 year low of $6.12 and a 1 year high of $13.58. The company's 50-day moving average is $8.98 and its two-hundred day moving average is $8.97. The company has a market capitalization of $521.13 million, a P/E ratio of -73.03 and a beta of 0.73.

Green Dot (NYSE:GDOT - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The financial services provider reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.36. The company had revenue of $555.96 million for the quarter, compared to analysts' expectations of $503.20 million. Green Dot had a positive return on equity of 8.82% and a negative net margin of 0.31%. The firm's revenue for the quarter was up 23.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.59 earnings per share. On average, equities analysts anticipate that Green Dot Corporation will post 0.87 EPS for the current fiscal year.

Insider Activity at Green Dot

In other news, insider Christian Devin Ruppel sold 10,189 shares of the company's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $11.00, for a total transaction of $112,079.00. Following the transaction, the insider now owns 253,139 shares of the company's stock, valued at approximately $2,784,529. This represents a 3.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on GDOT shares. Keefe, Bruyette & Woods decreased their price target on Green Dot from $12.00 to $10.00 and set a "market perform" rating on the stock in a report on Friday, February 28th. Northland Capmk upgraded shares of Green Dot from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 9th. Barclays increased their price objective on shares of Green Dot from $7.00 to $10.00 and gave the company an "underweight" rating in a report on Monday, May 12th. Northland Securities upgraded Green Dot from a "market perform" rating to an "outperform" rating and set a $12.00 price objective for the company in a research report on Wednesday, April 9th. Finally, Wall Street Zen upgraded Green Dot from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $11.50.

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.