Walmart Inc. Invests $13.17 Million in Green Dot Corporation $GDOT

Key Points

• Walmart acquired 975,000 Green Dot shares worth approximately $13.17 million in the second quarter, making GDOT about 1.8% of Walmart’s holdings and its third-largest position.
• Institutional ownership remains high at 92.56%, with investors including Jane Street Group and MIRAE Asset Global ETFs increasing their stakes.
• Green Dot exceeded revenue expectations but missed quarterly EPS estimates, reporting $591.29 million in revenue and $0.26 EPS. Analysts have a consensus “Hold” rating with an average price target of $16.12.

Walmart Inc. bought a new stake in shares of Green Dot Corporation (NYSE:GDOT - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 975,000 shares of the financial services provider's stock, valued at approximately $13,172,000. Green Dot makes up about 1.8% of Walmart Inc.'s holdings, making the stock its 3rd largest position. Walmart Inc. owned about 1.72% of Green Dot as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in GDOT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Green Dot by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,801 shares of the financial services provider's stock worth $268,000 after acquiring an additional 1,341 shares in the last quarter. Caxton Associates LLP purchased a new position in Green Dot during the first quarter valued at $96,000. Empowered Funds LLC grew its position in shares of Green Dot by 7.2% in the first quarter. Empowered Funds LLC now owns 198,919 shares of the financial services provider's stock valued at $1,679,000 after purchasing an additional 13,437 shares during the period. Jane Street Group LLC grew its position in shares of Green Dot by 235.6% in the first quarter. Jane Street Group LLC now owns 447,546 shares of the financial services provider's stock valued at $3,777,000 after purchasing an additional 314,208 shares during the period. Finally, Creative Planning purchased a new stake in shares of Green Dot during the second quarter worth about $287,000. Institutional investors and hedge funds own 92.56% of the company's stock.

Green Dot Price Performance

GDOT stock opened at $13.54 on Wednesday. Green Dot Corporation has a 1 year low of $10.10 and a 1 year high of $15.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.45 and a quick ratio of 0.45. The firm has a market capitalization of $771.42 million, a PE ratio of -26.54 and a beta of 0.84. The business has a 50 day simple moving average of $13.26 and a 200-day simple moving average of $12.43.

Green Dot (NYSE:GDOT - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The financial services provider reported $0.26 EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.11). The company had revenue of $591.29 million for the quarter, compared to analysts' expectations of $541.16 million. Green Dot had a positive return on equity of 6.92% and a negative net margin of 1.14%. Equities research analysts anticipate that Green Dot Corporation will post 1.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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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