Prudential Financial Inc. Increases Stake in Green Dot Corporation $GDOT

Prudential Financial Inc. grew its stake in shares of Green Dot Corporation (NYSE:GDOT) by 14.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,327,367 shares of the financial services provider’s stock after purchasing an additional 165,026 shares during the quarter. Prudential Financial Inc. owned approximately 2.42% of Green Dot worth $14,309,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. American Century Companies Inc. boosted its position in Green Dot by 14.8% during the 2nd quarter. American Century Companies Inc. now owns 1,416,163 shares of the financial services provider’s stock valued at $15,266,000 after buying an additional 182,113 shares during the period. Rhumbline Advisers raised its stake in shares of Green Dot by 3.6% during the second quarter. Rhumbline Advisers now owns 84,504 shares of the financial services provider’s stock valued at $911,000 after acquiring an additional 2,938 shares during the last quarter. Nierenberg Investment Management Company Inc. grew its stake in shares of Green Dot by 337.3% in the second quarter. Nierenberg Investment Management Company Inc. now owns 339,110 shares of the financial services provider’s stock worth $3,656,000 after purchasing an additional 261,555 shares during the last quarter. Intech Investment Management LLC increased its holdings in Green Dot by 18.2% during the 2nd quarter. Intech Investment Management LLC now owns 33,474 shares of the financial services provider’s stock valued at $361,000 after purchasing an additional 5,164 shares during the period. Finally, Creative Planning purchased a new position in Green Dot during the 2nd quarter valued at about $287,000. 92.56% of the stock is owned by hedge funds and other institutional investors.

Green Dot Stock Up 3.9%

NYSE:GDOT opened at $12.30 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.54 and a quick ratio of 0.54. The firm’s 50-day moving average price is $12.52 and its 200-day moving average price is $11.64. The company has a market capitalization of $681.39 million, a PE ratio of -14.46 and a beta of 0.80. Green Dot Corporation has a 1-year low of $6.12 and a 1-year high of $15.41.

Green Dot (NYSE:GDOT) last posted its quarterly earnings data on Monday, November 10th. The financial services provider reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.11) by $0.17. Green Dot had a negative net margin of 2.33% and a positive return on equity of 9.81%. The business had revenue of $491.85 million for the quarter, compared to analyst estimates of $483.84 million. During the same quarter in the previous year, the firm posted $0.13 earnings per share. Green Dot’s quarterly revenue was up 20.8% on a year-over-year basis. Green Dot has set its FY 2025 guidance at 1.310-1.440 EPS. On average, equities analysts predict that Green Dot Corporation will post 0.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on GDOT shares. Zacks Research cut Green Dot from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 16th. Wall Street Zen lowered Green Dot from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. William Blair reissued a “market perform” rating on shares of Green Dot in a research report on Tuesday, November 11th. Northland Capmk lowered shares of Green Dot from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Finally, Northland Securities set a $14.25 target price on shares of Green Dot and gave the company a “market perform” rating in a research note on Tuesday. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $12.56.

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.