Nuveen LLC Purchases New Stake in Green Dot Corporation $GDOT

Key Points

• Nuveen LLC has invested approximately $5.90 million in Green Dot Corporation, acquiring 699,154 shares which represents about 1.29% of the company's stock.
• Green Dot reported a significant 23.9% year-over-year revenue increase for the recent quarter, with earnings per share of $0.40, exceeding expectations.
• Institutional investors now hold 92.56% of Green Dot's stock, indicating strong confidence from major investment firms in its prospects.

Nuveen LLC purchased a new position in shares of Green Dot Corporation (NYSE:GDOT - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 699,154 shares of the financial services provider's stock, valued at approximately $5,901,000. Nuveen LLC owned 1.29% of Green Dot as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in GDOT. Wells Fargo & Company MN boosted its position in Green Dot by 28.6% during the 4th quarter. Wells Fargo & Company MN now owns 32,308 shares of the financial services provider's stock worth $344,000 after acquiring an additional 7,180 shares during the period. Barclays PLC raised its stake 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 buying an additional 4,820 shares in the last quarter. Dimensional Fund Advisors LP raised its stake 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 buying an additional 363,831 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake 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 buying an additional 10,422 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Green Dot in the 4th quarter worth $1,031,000. Institutional investors and hedge funds own 92.56% of the company's stock.

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, insider Christian Devin Ruppel sold 27,931 shares of the company'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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.40% of the company's stock.

Green Dot Trading Up 2.3%

Shares of Green Dot stock traded up $0.31 on Friday, reaching $13.85. 630,128 shares of the company were exchanged, compared to its average volume of 897,035. The stock has a fifty day moving average price of $11.35 and a 200-day moving average price of $9.50. The firm has a market capitalization of $767.37 million, a price-to-earnings ratio of -31.49 and a beta of 0.77. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.07. Green Dot Corporation has a fifty-two week low of $6.12 and a fifty-two week high of $14.27.

Green Dot (NYSE:GDOT - Get Free Report) last announced its earnings results on Monday, August 11th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.17 by $0.23. The company had revenue of $501.16 million for 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 for the quarter was up 23.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.25 earnings per share. Green Dot has set its FY 2025 guidance at 1.280-1.420 EPS. On average, analysts expect that Green Dot Corporation will post 0.87 EPS for the current year.

Green Dot 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.