Topline Capital Management LLC Cuts Stock Position in Green Dot Corporation $GDOT

Key Points

• Topline Capital Management trimmed its Green Dot stake by 7.1% in Q3, selling 350,724 shares and ending the quarter with 4,614,562 shares; Green Dot represents about 10.7% of Topline’s portfolio and Topline owned ~8.33% of the company (~$61.97M) at quarter end.
• Several other institutions materially increased or initiated positions (Arrowstreet +403.1%, Jane Street +235.6%, Nierenberg +337.3%, Acuitas a new ~$5.59M position), and hedge funds/institutions now own roughly 92.56% of Green Dot.
• Shares traded around $10.54 (50-day/200-day moving averages ~$12.00/$12.58), market cap ~ $584M and a negative P/E; analysts’ consensus is a Reduce rating with an average target price of $12.08.

Topline Capital Management LLC lowered its position in Green Dot Corporation (NYSE:GDOT - Free Report) by 7.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,614,562 shares of the financial services provider's stock after selling 350,724 shares during the period. Green Dot makes up approximately 10.7% of Topline Capital Management LLC's investment portfolio, making the stock its biggest holding. Topline Capital Management LLC owned approximately 8.33% of Green Dot worth $61,974,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of GDOT. Arrowstreet Capital Limited Partnership grew its stake in shares of Green Dot by 403.1% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,223,123 shares of the financial services provider's stock valued at $13,185,000 after buying an additional 980,012 shares during the last quarter. Acuitas Investments LLC purchased a new position in Green Dot during the 3rd quarter valued at $5,587,000. Jane Street Group LLC boosted its holdings in Green Dot by 235.6% during the 1st quarter. Jane Street Group LLC now owns 447,546 shares of the financial services provider's stock valued at $3,777,000 after acquiring an additional 314,208 shares during the period. American Century Companies Inc. grew its position in Green Dot by 22.2% in the 3rd quarter. American Century Companies Inc. now owns 1,730,308 shares of the financial services provider's stock valued at $23,238,000 after acquiring an additional 314,145 shares during the last quarter. Finally, Nierenberg Investment Management Company Inc. increased its stake in Green Dot by 337.3% in the second quarter. Nierenberg Investment Management Company Inc. now owns 339,110 shares of the financial services provider's stock worth $3,656,000 after purchasing an additional 261,555 shares during the period. Hedge funds and other institutional investors own 92.56% of the company's stock.

Green Dot Stock Performance

Shares of Green Dot stock opened at $10.54 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.07. The stock's fifty day moving average price is $12.00 and its 200-day moving average price is $12.58. The firm has a market cap of $583.85 million, a P/E ratio of -12.39 and a beta of 0.82. Green Dot Corporation has a 12 month low of $6.59 and a 12 month high of $15.41.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GDOT. Weiss Ratings reiterated a "sell (d-)" rating on shares of Green Dot in a research report on Thursday, January 22nd. Northland Securities set a $14.25 price target on shares of Green Dot and gave the stock a "market perform" rating in a research note on Tuesday, November 25th. Finally, Wall Street Zen lowered shares of Green Dot from a "hold" rating to a "sell" rating in a report on Saturday. Four analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Reduce" and an average target price of $12.08.

Green Dot 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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