Portolan Capital Management LLC Purchases 214,152 Shares of Green Dot Corporation $GDOT

Portolan Capital Management LLC boosted its position in Green Dot Corporation (NYSE:GDOT) by 15.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,615,280 shares of the financial services provider’s stock after acquiring an additional 214,152 shares during the period. Green Dot accounts for 1.2% of Portolan Capital Management LLC’s portfolio, making the stock its 27th largest position. Portolan Capital Management LLC owned 2.92% of Green Dot worth $21,693,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GDOT. State of Alaska Department of Revenue bought a new position in shares of Green Dot in the 3rd quarter valued at about $29,000. Virtus Advisers LLC bought a new stake in shares of Green Dot during the second quarter worth approximately $33,000. Ameritas Investment Partners Inc. lifted its holdings in Green Dot by 18.6% in the second quarter. Ameritas Investment Partners Inc. now owns 5,478 shares of the financial services provider’s stock valued at $59,000 after buying an additional 861 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Green Dot by 23.1% in the second quarter. Tower Research Capital LLC TRC now owns 6,504 shares of the financial services provider’s stock valued at $70,000 after buying an additional 1,221 shares during the period. Finally, Caxton Associates LLP bought a new position in Green Dot in the first quarter valued at approximately $96,000. 92.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GDOT has been the subject of a number of analyst reports. Northland Securities set a $14.25 target price on shares of Green Dot and gave the stock a “market perform” rating in a report on Tuesday, November 25th. Wall Street Zen downgraded Green Dot from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Green Dot in a research report on Thursday, January 22nd. Four investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $12.08.

Green Dot Stock Performance

Shares of NYSE:GDOT opened at $10.54 on Friday. The firm’s 50 day simple moving average is $12.00 and its 200 day simple moving average is $12.58. Green Dot Corporation has a fifty-two week low of $6.59 and a fifty-two week high of $15.41. The company has a market capitalization of $583.85 million, a price-to-earnings ratio of -12.39 and a beta of 0.82. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.54 and a quick ratio of 0.54.

Green Dot Company Profile

Green Dot Corporation (NYSE: GDOT) is a financial technology and bank holding company that provides prepaid debit cards, cash reload processing services and consumer banking products through its subsidiary, Green Dot Bank. The firm offers reloadable prepaid cards under its own brand and through partnerships with retailers, payments networks and banks. In addition to consumer-focused prepaid card accounts, Green Dot delivers payroll card services, government disbursement programs and B2B payment solutions that enable businesses to distribute funds digitally to end users.

Founded in 1999 by Steve Streit and headquartered in Austin, Texas, Green Dot began as a prepaid MasterCard provider sold through retail outlets.