Mackenzie Financial Corp Acquires New Stake in Green Dot Co. (NYSE:GDOT)

Mackenzie Financial Corp bought a new stake in shares of Green Dot Co. (NYSE:GDOT - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 27,353 shares of the financial services provider's stock, valued at approximately $291,000. Mackenzie Financial Corp owned 0.05% of Green Dot at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in GDOT. Empowered Funds LLC grew its stake in Green Dot by 5.1% in the 4th quarter. Empowered Funds LLC now owns 185,482 shares of the financial services provider's stock valued at $1,974,000 after acquiring an additional 9,044 shares during the period. Principal Financial Group Inc. lifted its holdings in Green Dot by 3.0% during the fourth quarter. Principal Financial Group Inc. now owns 260,772 shares of the financial services provider's stock valued at $2,775,000 after purchasing an additional 7,642 shares in the last quarter. New York State Common Retirement Fund grew its position in shares of Green Dot by 63.1% in the fourth quarter. New York State Common Retirement Fund now owns 11,892 shares of the financial services provider's stock valued at $127,000 after purchasing an additional 4,600 shares during the period. Illinois Municipal Retirement Fund raised its position in shares of Green Dot by 12.2% during the 4th quarter. Illinois Municipal Retirement Fund now owns 27,070 shares of the financial services provider's stock worth $288,000 after purchasing an additional 2,954 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in Green Dot in the 4th quarter worth about $294,000. 92.56% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Christian Devin Ruppel sold 10,189 shares of the business's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $11.00, for a total value of $112,079.00. Following the sale, the insider now directly owns 253,139 shares of the company's stock, valued at approximately $2,784,529. The trade was a 3.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.40% of the company's stock.

Green Dot Trading Up 3.7%

Shares of GDOT stock traded up $0.35 on Friday, hitting $9.58. 683,925 shares of the stock traded hands, compared to its average volume of 648,373. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.52 and a current ratio of 0.52. Green Dot Co. has a twelve month low of $6.12 and a twelve month high of $13.58. The firm's 50-day moving average price is $8.56 and its two-hundred day moving average price is $8.95. The stock has a market capitalization of $525.58 million, a PE ratio of -9.12 and a beta of 0.73.

Green Dot (NYSE:GDOT - Get Free Report) last posted its earnings results on Thursday, May 8th. The financial services provider reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.36. The company had revenue of $555.96 million for the quarter, compared to analyst estimates of $503.20 million. Green Dot had a negative net margin of 3.39% and a positive return on equity of 3.84%. Green Dot's revenue was up 23.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.59 EPS. As a group, analysts anticipate that Green Dot Co. will post 0.87 EPS for the current year.

Wall Street Analysts Forecast Growth

GDOT has been the topic of several research reports. Keefe, Bruyette & Woods decreased their target price on Green Dot from $12.00 to $10.00 and set a "market perform" rating on the stock in a research report on Friday, February 28th. Craig Hallum upgraded Green Dot from a "hold" rating to a "buy" rating and set a $14.00 price objective on the stock in a report on Friday, March 14th. Northland Securities raised shares of Green Dot from a "market perform" rating to an "outperform" rating and set a $12.00 target price on the stock in a research note on Wednesday, April 9th. Northland Capmk raised shares of Green Dot from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 9th. Finally, Barclays boosted their target price on Green Dot from $7.00 to $10.00 and gave the stock an "underweight" rating in a report on Monday, May 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $11.50.

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.