Rhumbline Advisers Sells 82,913 Shares of Green Dot Corporation (NYSE:GDOT)

Rhumbline Advisers lessened its position in Green Dot Corporation (NYSE:GDOT - Free Report) by 50.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 81,566 shares of the financial services provider's stock after selling 82,913 shares during the quarter. Rhumbline Advisers owned 0.15% of Green Dot worth $688,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings in Green Dot by 3.0% during the 4th quarter. Principal Financial Group Inc. now owns 260,772 shares of the financial services provider's stock valued at $2,775,000 after buying an additional 7,642 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in Green Dot by 63.1% during the 4th quarter. New York State Common Retirement Fund now owns 11,892 shares of the financial services provider's stock valued at $127,000 after buying an additional 4,600 shares in the last quarter. Illinois Municipal Retirement Fund lifted its holdings in 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 valued at $288,000 after buying an additional 2,954 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in Green Dot during the 4th quarter valued at about $294,000. Finally, Amundi lifted its holdings in Green Dot by 209.4% during the 4th quarter. Amundi now owns 27,754 shares of the financial services provider's stock valued at $295,000 after buying an additional 18,783 shares in the last quarter. Institutional investors own 92.56% of the company's stock.

Insider Buying and Selling

In related news, insider Christian Devin Ruppel sold 10,189 shares of Green Dot stock in a transaction on Friday, May 9th. The shares were sold at an average price of $11.00, for a total transaction of $112,079.00. Following the sale, the insider now directly owns 253,139 shares in the company, valued at $2,784,529. This trade represents a 3.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is owned by insiders.

Green Dot Stock Performance

NYSE:GDOT opened at $9.52 on Friday. The company's 50-day moving average price is $9.07 and its 200-day moving average price is $8.95. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.07. The company has a market cap of $522.61 million, a P/E ratio of -73.23 and a beta of 0.73. Green Dot Corporation has a twelve month low of $6.12 and a twelve month high of $13.58.

Green Dot (NYSE:GDOT - Get Free Report) last issued its earnings results on Thursday, May 8th. The financial services provider reported $1.06 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.36. The company had revenue of $555.96 million for the quarter, compared to the consensus estimate of $503.20 million. Green Dot had a negative net margin of 0.31% and a positive return on equity of 8.82%. Green Dot's quarterly revenue was up 23.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.59 earnings per share. On average, sell-side analysts forecast that Green Dot Corporation will post 0.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Green Dot from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Barclays upped their price target on shares of Green Dot from $7.00 to $10.00 and gave the stock an "underweight" rating in a research report on Monday, May 12th. Northland Securities raised shares of Green Dot from a "market perform" rating to an "outperform" rating and set a $12.00 price target for the company in a research report on Wednesday, April 9th. Keefe, Bruyette & Woods lowered their price target on shares of Green Dot from $12.00 to $10.00 and set a "market perform" rating for the company in a research report on Friday, February 28th. Finally, Craig Hallum raised shares of Green Dot from a "hold" rating to a "buy" rating and set a $14.00 price target for the company in a research report on Friday, March 14th. One equities 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, Green Dot currently has an average rating of "Moderate Buy" and a consensus target price of $11.50.

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.

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