Rangeley Capital LLC Buys New Shares in Green Dot Corporation $GDOT

Key Points

• Rangeley Capital LLC acquired 162,732 shares of Green Dot in the first quarter, valued at approximately $1.83 million and representing about 0.29% of the company.
• Other institutional investors also increased their positions, with hedge funds and institutions collectively owning 92.56% of Green Dot’s stock.
• Analysts have a consensus “Hold” rating and a $16.12 price target, while Green Dot recently exceeded quarterly earnings and revenue expectations.

Rangeley Capital LLC bought a new position in shares of Green Dot Corporation (NYSE:GDOT - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 162,732 shares of the financial services provider's stock, valued at approximately $1,826,000. Green Dot makes up about 1.7% of Rangeley Capital LLC's holdings, making the stock its 18th largest holding. Rangeley Capital LLC owned about 0.29% of Green Dot as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. OMERS ADMINISTRATION Corp lifted its position in shares of Green Dot by 167.2% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 330,200 shares of the financial services provider's stock valued at $3,705,000 after acquiring an additional 206,600 shares during the last quarter. Jacobs Asset Management LLC boosted its position in shares of Green Dot by 115.2% in the first quarter. Jacobs Asset Management LLC now owns 225,000 shares of the financial services provider's stock worth $2,524,000 after buying an additional 120,464 shares during the period. Entropy Technologies LP acquired a new stake in Green Dot during the 1st quarter worth about $173,000. Renaissance Technologies LLC grew its position in Green Dot by 167.0% during the first quarter. Renaissance Technologies LLC now owns 61,400 shares of the financial services provider's stock valued at $689,000 after purchasing an additional 38,400 shares in the last quarter. Finally, Caxton Associates LLP grew its holdings in shares of Green Dot by 399.3% during the 1st quarter. Caxton Associates LLP now owns 426,789 shares of the financial services provider's stock valued at $4,789,000 after acquiring an additional 341,315 shares in the last quarter. Institutional investors and hedge funds own 92.56% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on GDOT shares. Zacks Research cut Green Dot from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 13th. Weiss Ratings reissued a "sell (d-)" rating on shares of Green Dot in a research report on Friday, July 17th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $16.12.

Green Dot Trading Down 0.1%

Shares of GDOT stock opened at $13.27 on Monday. The firm's fifty day simple moving average is $13.08 and its 200 day simple moving average is $12.31. The firm has a market capitalization of $752.14 million, a P/E ratio of -10.05 and a beta of 0.83. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.07. Green Dot Corporation has a 1 year low of $9.31 and a 1 year high of $15.41.

Green Dot (NYSE:GDOT - Get Free Report) last released its earnings results on Monday, May 11th. The financial services provider reported $1.12 earnings per share for the quarter, topping analysts' consensus estimates of $0.88 by $0.24. The business had revenue of $652.03 million for the quarter, compared to the consensus estimate of $597.39 million. Green Dot had a positive return on equity of 7.56% and a negative net margin of 3.25%. As a group, sell-side analysts predict that Green Dot Corporation will post 1.33 EPS for the current year.

Green Dot Company Profile

Green Dot Corporation NYSE: GDOT is a financial technology and bank holding company that provides prepaid debit cards, cash reload processing services and consumer banking products through its subsidiary, Green Dot Bank. The firm offers reloadable prepaid cards under its own brand and through partnerships with retailers, payments networks and banks. In addition to consumer-focused prepaid card accounts, Green Dot delivers payroll card services, government disbursement programs and B2B payment solutions that enable businesses to distribute funds digitally to end users.

Founded in 1999 by Steve Streit and headquartered in Austin, Texas, Green Dot began as a prepaid MasterCard provider sold through retail outlets.

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