Green Dot Co. (GDOT) is Harvest Capital Strategies LLC’s Largest Position
Harvest Capital Strategies LLC cut its holdings in Green Dot Co. (NYSE:GDOT) by 66.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 747,371 shares of the financial services provider’s stock after selling 1,460,665 shares during the quarter. Green Dot makes up about 7.8% of Harvest Capital Strategies LLC’s holdings, making the stock its biggest holding. Harvest Capital Strategies LLC’s holdings in Green Dot were worth $45,037,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Eagle Asset Management Inc. purchased a new stake in Green Dot during the 4th quarter valued at about $82,309,000. Carillon Tower Advisers Inc. purchased a new stake in shares of Green Dot during the 4th quarter valued at about $57,764,000. Rothschild Asset Management Inc. purchased a new stake in shares of Green Dot during the 3rd quarter valued at about $29,051,000. BlackRock Inc. boosted its holdings in shares of Green Dot by 8.2% during the 4th quarter. BlackRock Inc. now owns 6,457,247 shares of the financial services provider’s stock valued at $389,113,000 after acquiring an additional 490,902 shares during the last quarter. Finally, OppenheimerFunds Inc. boosted its holdings in shares of Green Dot by 2,582.7% during the 4th quarter. OppenheimerFunds Inc. now owns 322,455 shares of the financial services provider’s stock valued at $19,432,000 after acquiring an additional 310,435 shares during the last quarter. 83.11% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Steven W. Streit sold 12,495 shares of the firm’s stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $66.75, for a total value of $834,041.25. Following the completion of the transaction, the insider now directly owns 178,121 shares of the company’s stock, valued at $11,889,576.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Mark L. Shifke sold 6,500 shares of the firm’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $68.09, for a total transaction of $442,585.00. Following the completion of the transaction, the chief financial officer now directly owns 688,013 shares of the company’s stock, valued at $46,846,805.17. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 310,525 shares of company stock worth $19,117,851. 11.00% of the stock is owned by company insiders.
Green Dot (NYSE:GDOT) last released its earnings results on Wednesday, February 21st. The financial services provider reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. Green Dot had a net margin of 9.65% and a return on equity of 12.32%. The company had revenue of $212.99 million for the quarter, compared to analysts’ expectations of $206.07 million. During the same quarter last year, the business earned $0.19 EPS. The firm’s revenue was up 30.9% compared to the same quarter last year. equities analysts forecast that Green Dot Co. will post 2.44 earnings per share for the current year.
GDOT has been the topic of a number of recent analyst reports. Citigroup raised shares of Green Dot from a “neutral” rating to a “buy” rating and raised their price target for the company from $66.00 to $68.00 in a report on Tuesday, February 13th. William Blair reaffirmed an “outperform” rating on shares of Green Dot in a report on Monday, February 12th. Morgan Stanley set a $60.00 price target on shares of Green Dot and gave the company a “hold” rating in a report on Monday, November 20th. Compass Point downgraded shares of Green Dot from a “buy” rating to a “neutral” rating in a report on Tuesday. Finally, Craig Hallum reiterated a “buy” rating and issued a $75.00 price objective (up previously from $70.00) on shares of Green Dot in a research note on Thursday, February 22nd. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $63.29.
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Green Dot 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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