Lyon Street Capital LLC Has $5.89 Million Stake in Green Dot Co. (GDOT)
Lyon Street Capital LLC trimmed its holdings in Green Dot Co. (NYSE:GDOT) by 67.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 118,711 shares of the financial services provider’s stock after selling 244,079 shares during the period. Green Dot accounts for 2.3% of Lyon Street Capital LLC’s holdings, making the stock its 17th largest position. Lyon Street Capital LLC owned 0.24% of Green Dot worth $5,886,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in GDOT. AMP Capital Investors Ltd acquired a new position in Green Dot during the third quarter valued at approximately $362,000. Allianz Asset Management GmbH raised its position in Green Dot by 6.1% during the third quarter. Allianz Asset Management GmbH now owns 67,343 shares of the financial services provider’s stock valued at $3,338,000 after purchasing an additional 3,888 shares in the last quarter. Engineers Gate Manager LP raised its position in Green Dot by 108.1% during the third quarter. Engineers Gate Manager LP now owns 41,719 shares of the financial services provider’s stock valued at $2,068,000 after purchasing an additional 21,676 shares in the last quarter. OxFORD Asset Management LLP acquired a new position in Green Dot during the third quarter valued at approximately $1,695,000. Finally, Elk Creek Partners LLC raised its position in Green Dot by 3.5% during the third quarter. Elk Creek Partners LLC now owns 270,318 shares of the financial services provider’s stock valued at $13,402,000 after purchasing an additional 9,185 shares in the last quarter. Institutional investors own 79.26% of the company’s stock.
Shares of Green Dot Co. (NYSE:GDOT) traded down $0.25 during trading hours on Wednesday, hitting $59.56. 396,800 shares of the stock traded hands, compared to its average volume of 356,005. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.09. Green Dot Co. has a 52 week low of $23.39 and a 52 week high of $65.88. The firm has a market capitalization of $3,039.54, a P/E ratio of 34.98 and a beta of 0.96.
In related news, CEO Steven W. Streit sold 2,665 shares of the business’s stock in a transaction on Tuesday, October 17th. The shares were sold at an average price of $53.91, for a total value of $143,670.15. Following the sale, the chief executive officer now owns 176,621 shares of the company’s stock, valued at $9,521,638.11. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel John C. Ricci sold 4,916 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $62.20, for a total transaction of $305,775.20. Following the completion of the sale, the general counsel now directly owns 60,707 shares in the company, valued at approximately $3,775,975.40. The disclosure for this sale can be found here. In the last three months, insiders sold 175,751 shares of company stock worth $9,957,097. 11.00% of the stock is currently owned by insiders.
Several brokerages have commented on GDOT. Cowen restated a “hold” rating on shares of Green Dot in a research report on Thursday, August 10th. BidaskClub upgraded shares of Green Dot from a “hold” rating to a “buy” rating in a report on Friday, August 11th. Lake Street Capital upgraded shares of Green Dot from a “hold” rating to a “buy” rating and upped their price target for the stock from $41.00 to $44.00 in a report on Wednesday, August 9th. Deutsche Bank upped their price target on shares of Green Dot from $37.00 to $42.00 and gave the stock a “hold” rating in a report on Wednesday, August 9th. Finally, ValuEngine downgraded shares of Green Dot from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $53.36.
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About Green Dot
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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