Rhumbline Advisers Trims Stake in Green Dot Corporation $GDOT

Key Points

• Rhumbline Advisers reduced its holdings in Green Dot Corporation by 50.4%, leaving them with 81,566 shares valued at approximately $688,000.
• Analysts have been optimistic, with ratings from Wall Street Zen and Zacks Research upgrading Green Dot from "hold" to "buy" and "strong-buy," respectively.
• Green Dot reported a quarterly earnings per share (EPS) of $0.40, surpassing estimates of $0.17, and had revenue of $501.16 million for the quarter.

Rhumbline Advisers decreased its position in Green Dot Corporation (NYSE:GDOT - Free Report) by 50.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 81,566 shares of the financial services provider's stock after selling 82,913 shares during the period. Rhumbline Advisers owned about 0.15% of Green Dot worth $688,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of GDOT. Brooklyn Investment Group increased its stake in Green Dot by 350,400.0% in the first quarter. Brooklyn Investment Group now owns 3,505 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 3,504 shares during the period. GAMMA Investing LLC raised its stake 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 buying an additional 3,416 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Green Dot during the first quarter worth $96,000. Caxton Associates LLP acquired a new position in shares of Green Dot in the first quarter valued at approximately $96,000. Finally, DRW Securities LLC acquired a new position in shares of Green Dot in the first quarter valued at approximately $97,000. Institutional investors own 92.56% of the company's stock.

Green Dot Price Performance

NYSE GDOT traded up $0.59 on Monday, reaching $15.09. 1,298,471 shares of the company's stock traded hands, compared to its average volume of 691,333. Green Dot Corporation has a 12 month low of $6.12 and a 12 month high of $15.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a 50-day simple moving average of $12.40 and a 200 day simple moving average of $10.15. The stock has a market cap of $836.00 million, a PE ratio of -34.30 and a beta of 0.77.

Green Dot (NYSE:GDOT - Get Free Report) last issued 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. Green Dot had a negative net margin of 1.24% and a positive return on equity of 9.93%. The business had revenue of $501.16 million during the quarter, compared to analyst estimates of $496.49 million. During the same period last year, the business posted $0.25 earnings per share. Green Dot's quarterly revenue was up 23.9% compared to the same quarter last year. Green Dot has set its FY 2025 guidance at 1.280-1.420 EPS. As a group, research analysts predict that Green Dot Corporation will post 0.87 earnings per share for the current year.

Analyst Ratings Changes

GDOT has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods increased their price target on shares of Green Dot from $11.00 to $12.00 and gave the company a "market perform" rating in a research note on Friday, July 11th. Zacks Research upgraded shares of Green Dot from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 22nd. Northland Securities set a $16.00 target price on shares of Green Dot in a research report on Tuesday, August 12th. Finally, Wall Street Zen upgraded shares of Green Dot from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $13.00.

Insider Activity at Green Dot

In related 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 transaction of $346,065.09. Following the completion of the transaction, the insider owned 226,656 shares in the company, valued at $2,808,267.84. The trade was a 10.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate 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.