Invesco Ltd. Cuts Stock Holdings in Green Dot Corporation $GDOT

Key Points

• Invesco Ltd. has significantly reduced its stake in Green Dot Corporation by 70.4%, selling 626,619 shares and now owning 263,283 shares valued at approximately $2.22 million.
• Green Dot's recent earnings report showed a notable 23.9% increase in revenue year-over-year, with earnings per share surpassing analysts' expectations at $0.40.
• Despite institutional investors holding 92.56% of Green Dot's stock, several hedge funds are increasing their positions, indicating renewed interest in the company.

Invesco Ltd. reduced its position in Green Dot Corporation (NYSE:GDOT - Free Report) by 70.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 263,283 shares of the financial services provider's stock after selling 626,619 shares during the quarter. Invesco Ltd. owned about 0.49% of Green Dot worth $2,222,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in shares of Green Dot by 152.0% in the first quarter. GAMMA Investing LLC now owns 5,663 shares of the financial services provider's stock valued at $48,000 after buying an additional 3,416 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Green Dot during the 1st quarter valued at about $96,000. Caxton Associates LP purchased a new stake in Green Dot during the 4th quarter valued at about $121,000. Graham Capital Management L.P. raised its holdings in Green Dot by 25.0% in the 4th quarter. Graham Capital Management L.P. now owns 14,079 shares of the financial services provider's stock valued at $150,000 after acquiring an additional 2,818 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Green Dot by 11.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,356 shares of the financial services provider's stock worth $155,000 after purchasing an additional 1,843 shares in the last quarter. Institutional investors and hedge funds own 92.56% of the company's stock.

Insider Activity

In other news, insider Christian Devin Ruppel sold 27,931 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $12.39, for a total value of $346,065.09. Following the completion of the transaction, the insider owned 226,656 shares of the company's stock, valued at approximately $2,808,267.84. This trade represents a 10.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.40% of the company's stock.

Analysts Set New Price Targets

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

Green Dot Trading Down 2.5%

NYSE:GDOT traded down $0.35 during trading hours on Wednesday, reaching $13.59. 385,045 shares of the stock were exchanged, compared to its average volume of 846,358. Green Dot Corporation has a twelve month low of $6.12 and a twelve month high of $14.48. The business has a 50-day moving average of $11.50 and a two-hundred day moving average of $9.56. The company has a market capitalization of $752.75 million, a price-to-earnings ratio of -30.85 and a beta of 0.77. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.07.

Green Dot (NYSE:GDOT - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.23. Green Dot had a positive return on equity of 9.93% and a negative net margin of 1.24%.The firm had revenue of $501.16 million for the quarter, compared to the consensus estimate of $496.49 million. During the same quarter in the previous year, the business earned $0.25 EPS. The company'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. On average, equities analysts predict that Green Dot Corporation will post 0.87 EPS for the current year.

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.