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

Rhumbline Advisers cut its position in Green Dot Corporation (NYSE:GDOT - Free Report) by 50.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 81,566 shares of the financial services provider's stock after selling 82,913 shares during the period. Rhumbline Advisers owned 0.15% of Green Dot worth $688,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. acquired a new stake in shares of Green Dot in the 4th quarter valued at $44,000. GAMMA Investing LLC increased its stake in Green Dot by 152.0% during the 1st quarter. GAMMA Investing LLC now owns 5,663 shares of the financial services provider's stock worth $48,000 after purchasing an additional 3,416 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Green Dot during the 4th quarter worth approximately $84,000. Caxton Associates LP bought a new position in Green Dot in the fourth quarter valued at approximately $121,000. Finally, New York State Common Retirement Fund boosted its holdings 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 buying an additional 4,600 shares during the period. 92.56% of the stock is currently owned by institutional investors and hedge funds.

Green Dot Stock Up 1.0%

Shares of NYSE:GDOT traded up $0.10 during midday trading on Wednesday, reaching $10.58. The company had a trading volume of 510,180 shares, compared to its average volume of 660,991. Green Dot Corporation has a 1-year low of $6.12 and a 1-year high of $13.58. The stock has a market cap of $580.75 million, a PE ratio of -81.38 and a beta of 0.73. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.07. The business's 50 day moving average price is $9.18 and its 200 day moving average price is $8.94.

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

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on GDOT shares. Northland Capmk upgraded shares of Green Dot from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 9th. Craig Hallum raised Green Dot from a "hold" rating to a "buy" rating and set a $14.00 price target on the stock in a research note on Friday, March 14th. Barclays boosted their price target on Green Dot from $7.00 to $10.00 and gave the company an "underweight" rating in a report on Monday, May 12th. Northland Securities upgraded Green Dot from a "market perform" rating to an "outperform" rating and set a $12.00 price objective for the company in a report on Wednesday, April 9th. Finally, Wall Street Zen upgraded Green Dot from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average 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.