Castleark Management LLC Increases Stake in Green Dot Corporation (GDOT)
Castleark Management LLC lifted its stake in shares of Green Dot Corporation (NYSE:GDOT) by 34.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 494,144 shares of the financial services provider’s stock after purchasing an additional 127,199 shares during the quarter. Castleark Management LLC owned about 0.98% of Green Dot Corporation worth $19,039,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in GDOT. Daiwa Securities Group Inc. acquired a new stake in Green Dot Corporation in the 2nd quarter valued at approximately $108,000. IFP Advisors Inc increased its position in Green Dot Corporation by 5,537.3% in the 2nd quarter. IFP Advisors Inc now owns 2,875 shares of the financial services provider’s stock valued at $111,000 after acquiring an additional 2,824 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in Green Dot Corporation in the 1st quarter valued at approximately $118,000. Turner Investments LLC acquired a new stake in Green Dot Corporation in the 2nd quarter valued at approximately $154,000. Finally, Riverhead Capital Management LLC increased its position in Green Dot Corporation by 55.0% in the 2nd quarter. Riverhead Capital Management LLC now owns 4,029 shares of the financial services provider’s stock valued at $155,000 after acquiring an additional 1,429 shares during the period. Institutional investors and hedge funds own 77.43% of the company’s stock.
Shares of Green Dot Corporation (NYSE GDOT) traded down 0.88% during trading on Wednesday, reaching $54.23. The company’s stock had a trading volume of 191,932 shares. The company has a market capitalization of $2.74 billion, a P/E ratio of 47.16 and a beta of 1.00. The company’s 50-day moving average is $48.90 and its 200-day moving average is $40.60. Green Dot Corporation has a 12 month low of $21.45 and a 12 month high of $55.57.
Green Dot Corporation (NYSE:GDOT) last released its earnings results on Tuesday, August 8th. The financial services provider reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.16. Green Dot Corporation had a net margin of 7.66% and a return on equity of 12.13%. The firm had revenue of $222.50 million during the quarter, compared to analyst estimates of $208.59 million. During the same quarter in the previous year, the business earned $0.27 EPS. The business’s quarterly revenue was up 28.2% compared to the same quarter last year. On average, analysts forecast that Green Dot Corporation will post $2.05 EPS for the current fiscal year.
In other Green Dot Corporation news, Director Kenneth C. Aldrich sold 10,000 shares of Green Dot Corporation stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $49.54, for a total transaction of $495,400.00. Following the completion of the sale, the director now owns 20,563 shares of the company’s stock, valued at approximately $1,018,691.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven W. Streit sold 7,995 shares of Green Dot Corporation stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $50.90, for a total transaction of $406,945.50. The disclosure for this sale can be found here. Insiders have sold a total of 154,297 shares of company stock valued at $7,127,934 in the last ninety days. Company insiders own 11.00% of the company’s stock.
Several analysts recently commented on the company. Lake Street Capital cut Green Dot Corporation from a “buy” rating to a “hold” rating and raised their target price for the company from $44.00 to $55.00 in a research report on Wednesday. Zacks Investment Research cut Green Dot Corporation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. BidaskClub upgraded Green Dot Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Craig Hallum assumed coverage on Green Dot Corporation in a research report on Thursday, October 5th. They issued a “buy” rating and a $70.00 target price on the stock. Finally, ValuEngine cut Green Dot Corporation from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Green Dot Corporation currently has an average rating of “Buy” and a consensus price target of $46.91.
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Green Dot Corporation Company Profile
Green Dot Corporation (Green Dot) is a pro-consumer financial technology innovator. The Company is a provider of reloadable prepaid debit cards and cash reload processing services in the United States. The Company operates through two segments: Account Services, and Processing and Settlement Services.
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