Corton Capital Inc. Takes Position in Green Dot Corporation $GDOT

Corton Capital Inc. bought a new stake in Green Dot Corporation (NYSE:GDOT) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 20,897 shares of the financial services provider’s stock, valued at approximately $225,000.

A number of other institutional investors have also recently bought and sold shares of the business. American Century Companies Inc. grew its stake in Green Dot by 18.5% in the 1st quarter. American Century Companies Inc. now owns 1,234,050 shares of the financial services provider’s stock valued at $10,415,000 after purchasing an additional 193,016 shares during the period. Nuveen LLC bought a new position in Green Dot in the 1st quarter valued at $5,901,000. Jane Street Group LLC grew its stake in Green Dot by 235.6% in the 1st quarter. Jane Street Group LLC now owns 447,546 shares of the financial services provider’s stock valued at $3,777,000 after purchasing an additional 314,208 shares during the period. Connors Investor Services Inc. grew its stake in Green Dot by 23.0% in the 2nd quarter. Connors Investor Services Inc. now owns 335,932 shares of the financial services provider’s stock valued at $3,621,000 after purchasing an additional 62,850 shares during the period. Finally, XTX Topco Ltd increased its position in Green Dot by 436.8% in the first quarter. XTX Topco Ltd now owns 230,175 shares of the financial services provider’s stock worth $1,943,000 after buying an additional 187,293 shares during the last quarter. Institutional investors own 92.56% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Northland Securities set a $18.00 target price on Green Dot in a research report on Wednesday, October 15th. Keefe, Bruyette & Woods lifted their price target on Green Dot from $11.00 to $12.00 and gave the company a “market perform” rating in a research report on Friday, July 11th. Zacks Research cut Green Dot from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 16th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Green Dot in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $13.50.

Insiders Place Their Bets

In related news, insider Christian Devin Ruppel sold 27,931 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $12.39, for a total transaction of $346,065.09. Following the completion of the sale, the insider directly owned 226,656 shares in the company, valued at $2,808,267.84. This represents a 10.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.40% of the stock is owned by corporate insiders.

Green Dot Stock Performance

Shares of NYSE GDOT opened at $11.57 on Tuesday. The stock has a market cap of $640.86 million, a price-to-earnings ratio of -26.29 and a beta of 0.80. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.07. Green Dot Corporation has a 1-year low of $6.12 and a 1-year high of $15.41. The stock’s 50-day moving average is $13.33 and its 200 day moving average is $11.29.

Green Dot (NYSE:GDOT) last issued its earnings results on Monday, August 11th. The financial services provider reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.23. The company had revenue of $501.16 million during the quarter, compared to analysts’ expectations of $496.49 million. Green Dot had a positive return on equity of 9.93% and a negative net margin of 1.24%.Green Dot’s quarterly revenue was up 23.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.25 EPS. Green Dot has set its FY 2025 guidance at 1.280-1.420 EPS. On average, sell-side analysts anticipate that Green Dot Corporation will post 0.87 EPS for the current fiscal year.

Green Dot 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.