Russell Investments Group Ltd. Sells 171,488 Shares of Green Dot Corporation $GDOT

Key Points

• Russell Investments Group Ltd. significantly reduced its holdings in Green Dot Corporation by 74.4% in the first quarter, leaving it with 58,955 shares valued at approximately $498,000.
• Green Dot announced better-than-expected earnings, reporting $0.40 EPS for the quarter, surpassing analysts' estimates of $0.17 EPS and showing a revenue increase of 23.9% year-over-year.
• Institutional investors now own 92.56% of Green Dot's stock, with various hedge funds adjusting their positions during the fourth quarter, including Wells Fargo increasing its holdings by 28.6%.

Russell Investments Group Ltd. lessened its position in shares of Green Dot Corporation (NYSE:GDOT - Free Report) by 74.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,955 shares of the financial services provider's stock after selling 171,488 shares during the quarter. Russell Investments Group Ltd. owned about 0.11% of Green Dot worth $498,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its holdings in shares of Green Dot by 28.6% in the 4th quarter. Wells Fargo & Company MN now owns 32,308 shares of the financial services provider's stock worth $344,000 after purchasing an additional 7,180 shares during the period. Barclays PLC boosted its holdings in shares of Green Dot by 5.4% in the 4th quarter. Barclays PLC now owns 93,324 shares of the financial services provider's stock worth $993,000 after purchasing an additional 4,820 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Green Dot by 20.8% in the 4th 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. Price T Rowe Associates Inc. MD boosted its holdings in shares of Green Dot by 21.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 58,896 shares of the financial services provider's stock worth $627,000 after purchasing an additional 10,422 shares during the period. Finally, Boothbay Fund Management LLC purchased a new position in shares of Green Dot in the 4th quarter worth approximately $186,000. Hedge funds and other institutional investors own 92.56% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GDOT. Wall Street Zen upgraded Green Dot from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Keefe, Bruyette & Woods boosted their price objective on Green Dot from $11.00 to $12.00 and gave the company a "market perform" rating in a report on Friday, July 11th. Barclays boosted their price objective on Green Dot from $7.00 to $10.00 and gave the company an "underweight" rating in a report on Monday, May 12th. Zacks Research upgraded 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 objective on 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 assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $13.00.

Green Dot Stock Up 0.2%

NYSE GDOT traded up $0.02 on Thursday, reaching $13.74. 222,284 shares of the stock traded hands, compared to its average volume of 844,905. 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 fifty day moving average price of $11.56 and a 200-day moving average price of $9.59. The company has a market cap of $761.28 million, a price-to-earnings ratio of -31.24 and a beta of 0.77. Green Dot Corporation has a 12 month low of $6.12 and a 12 month high of $14.48.

Green Dot (NYSE:GDOT - Get Free Report) last issued its earnings results on Monday, August 11th. The financial services provider reported $0.40 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.23. The business had revenue of $501.16 million during the quarter, compared to analyst estimates of $496.49 million. Green Dot had a positive return on equity of 9.93% and a negative net margin of 1.24%.Green Dot's revenue was up 23.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.25 EPS. Green Dot has set its FY 2025 guidance at 1.280-1.420 EPS. As a group, research analysts forecast 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 27,931 shares of the business's 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 completion of the transaction, the insider directly owned 226,656 shares of the company's stock, valued at approximately $2,808,267.84. The trade was a 10.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.40% of the company's stock.

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.