Marshall Wace LLP Cuts Stake in Green Dot Co. (NYSE:GDOT)

Marshall Wace LLP cut its stake in shares of Green Dot Co. (NYSE:GDOT - Free Report) by 66.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 116,709 shares of the financial services provider's stock after selling 231,118 shares during the quarter. Marshall Wace LLP owned approximately 0.22% of Green Dot worth $1,242,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new stake in shares of Green Dot during the fourth quarter valued at approximately $44,000. KLP Kapitalforvaltning AS bought a new stake in shares of Green Dot in the fourth quarter worth about $84,000. New York State Common Retirement Fund lifted its position 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 worth $127,000 after buying an additional 4,600 shares in the last quarter. Polymer Capital Management US LLC bought a new position in Green Dot during the fourth quarter valued at approximately $131,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Green Dot by 25.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 16,513 shares of the financial services provider's stock valued at $164,000 after buying an additional 3,339 shares in the last quarter. 92.56% of the stock is owned by hedge funds and other institutional investors.

Green Dot Stock Performance

Shares of GDOT traded up $0.05 during trading hours on Monday, reaching $8.28. 39,792 shares of the company traded hands, compared to its average volume of 603,280. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.05. The business has a fifty day moving average price of $7.67 and a 200-day moving average price of $9.30. Green Dot Co. has a 12-month low of $6.12 and a 12-month high of $13.58. The stock has a market capitalization of $448.75 million, a P/E ratio of -7.91 and a beta of 0.87.

Analyst Ratings Changes

GDOT has been the subject of a number of research reports. Barclays lowered their target price on Green Dot from $10.00 to $7.00 and set an "underweight" rating for the company in a research report on Monday, March 3rd. Northland Capmk upgraded shares of Green Dot from a "hold" rating to a "strong-buy" rating in a 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 report on Friday, February 28th. Craig Hallum upgraded Green Dot from a "hold" rating to a "buy" rating and set a $14.00 price target on the stock in a report on Friday, March 14th. Finally, Northland Securities upgraded shares of Green Dot from a "market perform" rating to an "outperform" rating and set a $12.00 price objective on the stock in a research report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Green Dot has a consensus rating of "Moderate Buy" and an average target price of $10.75.

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.