Bridgeway Capital Management LLC Sells 186,064 Shares of Green Dot Corporation $GDOT

Key Points

• Bridgeway Capital Management LLC has reduced its stake in Green Dot Corporation by 36.1%, selling 186,064 shares to hold 329,919 shares worth approximately $2.785 million.
• Analysts have recently raised their price targets for Green Dot, with Barclays increasing its target from $7.00 to $10.00, and Zacks upgrading the stock from a "hold" to a "strong-buy" rating.
• Green Dot's stock has shown positive performance, reporting a 23.9% increase in revenue year-over-year, alongside earnings per share surpassing analysts' expectations at $0.40.

Bridgeway Capital Management LLC reduced its position in shares of Green Dot Corporation (NYSE:GDOT - Free Report) by 36.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 329,919 shares of the financial services provider's stock after selling 186,064 shares during the period. Bridgeway Capital Management LLC owned about 0.61% of Green Dot worth $2,785,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brooklyn Investment Group grew its holdings in shares of Green Dot by 350,400.0% during the first quarter. Brooklyn Investment Group now owns 3,505 shares of the financial services provider's stock worth $30,000 after purchasing an additional 3,504 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Green Dot by 152.0% during the first quarter. GAMMA Investing LLC now owns 5,663 shares of the financial services provider's stock worth $48,000 after purchasing an additional 3,416 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Green Dot during the first quarter worth about $96,000. DRW Securities LLC bought a new stake in shares of Green Dot during the first quarter worth about $97,000. Finally, Graham Capital Management L.P. grew its holdings in shares of Green Dot by 25.0% during the fourth quarter. Graham Capital Management L.P. now owns 14,079 shares of the financial services provider's stock worth $150,000 after purchasing an additional 2,818 shares during the last quarter. 92.56% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Christian Devin Ruppel sold 27,931 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $12.39, for a total value of $346,065.09. Following the transaction, the insider directly owned 226,656 shares in the company, valued at $2,808,267.84. This trade represents a 10.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.40% of the stock is currently owned by corporate insiders.

Green Dot Trading Up 5.5%

Shares of GDOT stock traded up $0.76 during trading hours on Tuesday, hitting $14.59. 1,233,124 shares of the company were exchanged, compared to its average volume of 858,225. The firm has a market cap of $808.14 million, a P/E ratio of -33.16 and a beta of 0.77. Green Dot Corporation has a fifty-two week low of $6.12 and a fifty-two week high of $14.90. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.69 and a current ratio of 0.69. The company has a 50 day simple moving average of $11.81 and a two-hundred day simple moving average of $9.72.

Green Dot (NYSE:GDOT - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The financial services provider reported $0.40 EPS for the quarter, topping the consensus estimate of $0.17 by $0.23. The company had revenue of $501.16 million during the quarter, compared to the consensus estimate of $496.49 million. Green Dot had a negative net margin of 1.24% and a positive return on equity of 9.93%. The company's quarterly revenue was up 23.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.25 EPS. Green Dot has set its FY 2025 guidance at 1.280-1.420 EPS. Equities analysts anticipate that Green Dot Corporation will post 0.87 EPS for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on GDOT shares. Barclays increased their target price on shares of Green Dot from $7.00 to $10.00 and gave the company an "underweight" rating in a research report on Monday, May 12th. Wall Street Zen upgraded shares of Green Dot from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Keefe, Bruyette & Woods raised their price target on shares of Green Dot from $11.00 to $12.00 and gave the stock a "market perform" rating in a report on Friday, July 11th. Zacks Research upgraded shares of Green Dot from a "hold" rating to a "strong-buy" rating in a report on Friday, August 22nd. Finally, Northland Securities set a $16.00 price target on shares of Green Dot in a report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $13.00.

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.