Nuveen LLC Acquires New Holdings 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 acquired a new position in shares of Green Dot Corporation (NYSE:GDOT - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 699,154 shares of the financial services provider's stock, valued at approximately $5,901,000. Nuveen LLC owned about 1.29% of Green Dot at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Green Dot during the 1st quarter worth about $96,000. Dimensional Fund Advisors LP grew its stake in 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 valued at $22,496,000 after buying an additional 363,831 shares during the last quarter. XTX Topco Ltd grew its stake in Green Dot by 436.8% in the 1st quarter. XTX Topco Ltd now owns 230,175 shares of the financial services provider's stock valued at $1,943,000 after buying an additional 187,293 shares during the last quarter. Walmart Inc. acquired a new position in Green Dot in the 4th quarter valued at about $10,374,000. Finally, GSA Capital Partners LLP acquired a new position in Green Dot in the 1st quarter valued at about $1,089,000. 92.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on GDOT shares. Barclays upped their price target on shares of Green Dot from $7.00 to $10.00 and gave the company an "underweight" rating in a research note on Monday, May 12th. Wall Street Zen upgraded shares of Green Dot from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Keefe, Bruyette & Woods upped 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. Finally, Northland Securities set a $16.00 price target on shares of Green Dot in a research note on Tuesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Green Dot presently has an average rating of "Moderate Buy" and an average price target of $13.00.

Green Dot Price Performance

Shares of Green Dot stock traded up $0.12 on Thursday, reaching $13.52. 323,507 shares of the stock were exchanged, compared to its average volume of 936,524. The firm's 50 day moving average is $11.26 and its 200-day moving average is $9.46. Green Dot Corporation has a one year low of $6.12 and a one year high of $14.27. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market cap of $748.60 million, a PE ratio of -30.72 and a beta of 0.75.

Green Dot (NYSE:GDOT - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The financial services provider reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $501.16 million during the quarter, compared to the consensus estimate of $496.49 million. During the same quarter in the prior year, the firm posted $0.25 EPS. The firm's quarterly revenue was up 23.9% on a year-over-year basis. Green Dot has set its FY 2025 guidance at 1.280-1.420 EPS. As a group, analysts anticipate that Green Dot Corporation will post 0.87 EPS for the current fiscal year.

Insider Buying and Selling at Green Dot

In other news, insider Christian Devin Ruppel sold 27,931 shares of the company'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 transaction of $346,065.09. Following the completion of the sale, the insider owned 226,656 shares of the company's stock, valued at approximately $2,808,267.84. This represents a 10.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company 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.