Smith Graham & Co. Investment Advisors LP Boosts Stock Position in Green Dot Co. (NYSE:GDOT)

Smith Graham & Co. Investment Advisors LP lifted its holdings in shares of Green Dot Co. (NYSE:GDOT - Free Report) by 54.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 597,403 shares of the financial services provider's stock after purchasing an additional 209,818 shares during the period. Smith Graham & Co. Investment Advisors LP owned about 1.14% of Green Dot worth $5,914,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its stake in Green Dot by 39.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 7,352 shares of the financial services provider's stock valued at $73,000 after acquiring an additional 2,074 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of Green Dot during the fourth quarter valued at about $53,000. Assenagon Asset Management S.A. increased its position in shares of Green Dot by 6.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 826,136 shares of the financial services provider's stock valued at $8,179,000 after buying an additional 48,207 shares during the period. SG Americas Securities LLC increased its position in shares of Green Dot by 4.9% during the fourth quarter. SG Americas Securities LLC now owns 27,367 shares of the financial services provider's stock valued at $271,000 after buying an additional 1,285 shares during the period. Finally, Moody National Bank Trust Division increased its position in shares of Green Dot by 23.0% during the fourth quarter. Moody National Bank Trust Division now owns 14,391 shares of the financial services provider's stock valued at $142,000 after buying an additional 2,695 shares during the period. 92.56% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Truist Financial upped their price target on Green Dot from $10.00 to $11.00 and gave the company a "buy" rating in a research report on Thursday, February 29th. Barclays lowered Green Dot from an "equal weight" rating to an "underweight" rating and cut their price objective for the stock from $8.00 to $7.00 in a report on Thursday, December 14th. Keefe, Bruyette & Woods cut their price objective on Green Dot from $12.50 to $11.00 and set a "market perform" rating for the company in a report on Friday, April 5th. Finally, TheStreet lowered Green Dot from a "c-" rating to a "d" rating in a report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. According to MarketBeat, Green Dot has an average rating of "Hold" and a consensus price target of $10.75.

Green Dot Stock Performance

Shares of Green Dot stock traded down $0.18 during midday trading on Friday, reaching $8.00. 795,894 shares of the company's stock traded hands, compared to its average volume of 729,966. Green Dot Co. has a 12 month low of $7.30 and a 12 month high of $21.37. The company has a market cap of $422.64 million, a PE ratio of 61.54 and a beta of 1.04. The stock has a 50 day moving average of $8.63 and a 200-day moving average of $9.65.

Green Dot (NYSE:GDOT - Get Free Report) last announced its earnings results on Tuesday, February 27th. The financial services provider reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. The business had revenue of $361.72 million for the quarter, compared to analysts' expectations of $350.14 million. Green Dot had a return on equity of 6.78% and a net margin of 0.45%. On average, equities analysts anticipate that Green Dot Co. will post 0.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Principal Co Lp Starboard sold 150,000 shares of the firm's stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $8.17, for a total value of $1,225,500.00. Following the transaction, the insider now owns 276,595 shares of the company's stock, valued at $2,259,781.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Green Dot news, CRO Christian Devin Ruppel bought 33,000 shares of the firm's stock in a transaction that occurred on Monday, March 11th. The shares were bought at an average price of $9.06 per share, with a total value of $298,980.00. Following the purchase, the executive now owns 101,715 shares of the company's stock, valued at $921,537.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Principal Co Lp Starboard sold 150,000 shares of Green Dot stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $8.17, for a total value of $1,225,500.00. Following the sale, the insider now directly owns 276,595 shares in the company, valued at approximately $2,259,781.15. The disclosure for this sale can be found here. Insiders own 11.80% 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.