Green Dot Corporation $GDOT Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its Green Dot stake by 33.9% in the second quarter, selling 160,834 shares and retaining 314,134 shares worth approximately $4.24 million. Institutional investors and hedge funds collectively own 92.56% of GDOT.
• Green Dot reported quarterly revenue of $591.29 million, exceeding estimates of $541.16 million, but adjusted earnings of $0.26 per share fell short of the $0.37 consensus forecast.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $16.12; GDOT shares recently opened at $13.47.

Assenagon Asset Management S.A. trimmed its position in shares of Green Dot Corporation (NYSE:GDOT - Free Report) by 33.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 314,134 shares of the financial services provider's stock after selling 160,834 shares during the quarter. Assenagon Asset Management S.A. owned 0.55% of Green Dot worth $4,244,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Summit Securities Group LLC purchased a new position in shares of Green Dot in the fourth quarter valued at approximately $66,000. Tower Research Capital LLC TRC increased its stake in Green Dot by 23.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,504 shares of the financial services provider's stock worth $70,000 after buying an additional 1,221 shares during the period. OLD National Bancorp IN purchased a new stake in Green Dot during the 4th quarter worth approximately $128,000. Caxton Associates LLP acquired a new stake in Green Dot during the 1st quarter worth approximately $96,000. Finally, DRW Securities LLC acquired a new stake in Green Dot during the 4th quarter worth approximately $154,000. 92.56% of the stock is owned by institutional investors and hedge funds.

Green Dot Stock Performance

Shares of GDOT stock opened at $13.47 on Thursday. The company has a market cap of $763.48 million, a P/E ratio of -26.41 and a beta of 0.84. The firm has a fifty day moving average price of $13.20 and a 200 day moving average price of $12.40. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.07. Green Dot Corporation has a 12 month low of $10.10 and a 12 month high of $15.41.

Green Dot (NYSE:GDOT - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by ($0.11). Green Dot had a positive return on equity of 6.96% and a negative net margin of 1.14%.The business had revenue of $591.29 million for the quarter, compared to analysts' expectations of $541.16 million. Sell-side analysts predict that Green Dot Corporation will post 1.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GDOT has been the subject of several research reports. Zacks Research downgraded shares of Green Dot from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 13th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Green Dot in a research note on Friday, July 17th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $16.12.

Green Dot Profile

Green Dot Corporation NYSE: GDOT is a financial technology and bank holding company that provides prepaid debit cards, cash reload processing services and consumer banking products through its subsidiary, Green Dot Bank. The firm offers reloadable prepaid cards under its own brand and through partnerships with retailers, payments networks and banks. In addition to consumer-focused prepaid card accounts, Green Dot delivers payroll card services, government disbursement programs and B2B payment solutions that enable businesses to distribute funds digitally to end users.

Founded in 1999 by Steve Streit and headquartered in Austin, Texas, Green Dot began as a prepaid MasterCard provider sold through retail outlets.

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