CenterBook Partners LP Sells 178,984 Shares of Green Dot Corporation $GDOT

Key Points

• CenterBook Partners cut its Green Dot stake by 39% in the third quarter, selling 178,984 shares and retaining 279,979 shares, valued at about $3.44 million.
• Institutional investors own 92.56% of Green Dot. Other investors made mixed moves, including Walmart’s new $13.17 million position and Newtyn Management’s substantial increase in holdings.
• Green Dot missed quarterly EPS estimates ($0.26 versus $0.37), despite revenue topping expectations. Analysts’ consensus rating is Hold, with an average price target of $16.12.

CenterBook Partners LP reduced its stake in Green Dot Corporation (NYSE:GDOT - Free Report) by 39.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 279,979 shares of the financial services provider's stock after selling 178,984 shares during the period. CenterBook Partners LP owned about 0.49% of Green Dot worth $3,444,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Abel Hall LLC bought a new position in shares of Green Dot in the third quarter worth approximately $125,000. Engineers Gate Manager LP raised its holdings in Green Dot by 81.3% during the 2nd quarter. Engineers Gate Manager LP now owns 77,256 shares of the financial services provider's stock valued at $1,044,000 after buying an additional 34,637 shares during the last quarter. Newtyn Management LLC raised its holdings in Green Dot by 743.7% during the 2nd quarter. Newtyn Management LLC now owns 1,203,203 shares of the financial services provider's stock valued at $16,255,000 after buying an additional 1,060,598 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Green Dot during the 2nd quarter valued at $26,000. Finally, Walmart Inc. purchased a new stake in Green Dot during the 2nd quarter valued at $13,172,000. Institutional investors own 92.56% of the company's stock.

Green Dot Price Performance

Shares of Green Dot stock opened at $12.24 on Friday. The business has a 50 day moving average of $12.68 and a 200 day moving average of $12.52. Green Dot Corporation has a 52 week low of $10.10 and a 52 week high of $13.75. The company has a market cap of $697.67 million, a PE ratio of -24.00 and a beta of 0.93. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.07.

Green Dot (NYSE:GDOT - Get Free Report) last released its quarterly earnings results on Monday, August 10th. The financial services provider reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.11). The company had revenue of $591.29 million during the quarter, compared to the consensus estimate of $541.16 million. Green Dot had a negative net margin of 1.14% and a positive return on equity of 6.92%. As a group, equities research analysts forecast that Green Dot Corporation will post 1.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GDOT has been the subject of several analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Green Dot in a research report on Thursday, October 15th. Zacks Research upgraded shares of Green Dot from a "strong sell" rating to a "hold" rating in a research report on Tuesday, October 13th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $16.12.

Green Dot Company Profile

Green Dot Corporation is a financial technology and banking company that provides digital banking, prepaid debit, and payment services in the United States. Through its consumer brands, including Green Dot and GO2bank, the company offers checking accounts, debit cards, direct deposit, mobile banking, bill payment, money transfer, cash deposit, and other everyday financial services.

Green Dot also provides banking-as-a-service and embedded-finance solutions for businesses, financial institutions, and technology companies.

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