Green Dot Co. (NYSE:GDOT) Shares Sold by Starboard Value LP

Starboard Value LP cut its stake in shares of Green Dot Co. (NYSE:GDOT - Free Report) by 8.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,604,381 shares of the financial services provider's stock after selling 414,000 shares during the quarter. Green Dot comprises approximately 0.9% of Starboard Value LP's investment portfolio, making the stock its 20th biggest holding. Starboard Value LP owned 8.56% of Green Dot worth $48,991,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in shares of Green Dot by 31.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 331,802 shares of the financial services provider's stock valued at $3,885,000 after buying an additional 78,547 shares during the last quarter. Empowered Funds LLC boosted its position in Green Dot by 5.1% in the 4th quarter. Empowered Funds LLC now owns 185,482 shares of the financial services provider's stock worth $1,974,000 after purchasing an additional 9,044 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of 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 worth $2,775,000 after purchasing an additional 7,642 shares during the period. New York State Common Retirement Fund grew its stake in shares of 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 worth $127,000 after purchasing an additional 4,600 shares during the period. Finally, Illinois Municipal Retirement Fund lifted its stake in shares of Green Dot by 12.2% in the 4th quarter. Illinois Municipal Retirement Fund now owns 27,070 shares of the financial services provider's stock valued at $288,000 after purchasing an additional 2,954 shares during the period. Hedge funds and other institutional investors own 92.56% of the company's stock.

Green Dot Price Performance

Shares of Green Dot stock traded down $0.17 during mid-day trading on Friday, reaching $9.04. 274,714 shares of the stock traded hands, compared to its average volume of 632,295. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.05. Green Dot Co. has a fifty-two week low of $6.12 and a fifty-two week high of $13.58. The stock has a market capitalization of $496.43 million, a PE ratio of -8.61 and a beta of 0.76. The business has a 50-day moving average of $8.28 and a 200 day moving average of $9.13.

Green Dot (NYSE:GDOT - Get Free Report) last announced its earnings results on Thursday, May 8th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.36. The company had revenue of $555.96 million for the quarter, compared to analysts' expectations of $503.20 million. Green Dot had a negative net margin of 3.39% and a positive return on equity of 3.84%. The firm's quarterly revenue was up 23.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.59 EPS. On average, analysts predict that Green Dot Co. will post 0.87 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Northland Securities raised shares of 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. Northland Capmk upgraded Green Dot from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 9th. Barclays upped their target price on Green Dot from $7.00 to $10.00 and gave the stock an "underweight" rating in a research note on Monday, May 12th. Keefe, Bruyette & Woods cut 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 report on Friday, February 28th. Finally, Craig Hallum upgraded shares of Green Dot from a "hold" rating to a "buy" rating and set a $14.00 price objective for the company in a research report on Friday, March 14th. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $11.50.

Insider Activity

In related news, insider Christian Devin Ruppel sold 10,189 shares of the company's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $11.00, for a total value of $112,079.00. Following the completion of the sale, the insider now owns 253,139 shares of the company's stock, valued at approximately $2,784,529. This represents a 3.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.40% of the company's stock.

Green Dot Company 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.