Pembroke Management LTD reduced its position in Green Dot Co. (NYSE:GDOT) by 0.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 252,389 shares of the financial services provider’s stock after selling 2,011 shares during the quarter. Pembroke Management LTD owned approximately 0.47% of Green Dot worth $12,342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. Tortoise Index Solutions LLC bought a new position in shares of Green Dot in the first quarter worth $43,000. Manchester Capital Management LLC bought a new stake in Green Dot during the first quarter valued at $53,000. FNY Investment Advisers LLC boosted its stake in Green Dot by 708.8% during the first quarter. FNY Investment Advisers LLC now owns 1,100 shares of the financial services provider’s stock valued at $66,000 after buying an additional 964 shares during the period. Stephens Inc. AR bought a new stake in Green Dot during the first quarter valued at $105,000. Finally, Quantamental Technologies LLC bought a new stake in Green Dot during the first quarter valued at $174,000. 87.03% of the stock is owned by institutional investors and hedge funds.
GDOT has been the subject of several research analyst reports. Needham & Company LLC dropped their price objective on Green Dot from $75.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. SunTrust Banks dropped their price objective on Green Dot to $70.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Zacks Investment Research raised Green Dot from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research note on Tuesday, July 9th. ValuEngine raised Green Dot from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Northland Securities lowered Green Dot from an “outperform” rating to a “market perform” rating and set a $58.00 price objective for the company. in a research note on Thursday, May 9th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $81.85.
Green Dot (NYSE:GDOT) last issued its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.10. Green Dot had a return on equity of 15.74% and a net margin of 10.56%. The firm had revenue of $340.51 million during the quarter, compared to analyst estimates of $330.17 million. During the same quarter in the previous year, the company posted $1.40 earnings per share. The company’s revenue was up 6.3% compared to the same quarter last year. As a group, research analysts predict that Green Dot Co. will post 2.11 earnings per share for the current fiscal year.
In other news, CFO Mark L. Shifke sold 1,250 shares of Green Dot stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $65.11, for a total value of $81,387.50. Following the transaction, the chief financial officer now owns 591,740 shares in the company, valued at $38,528,191.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CRO Brett Narlinger sold 5,532 shares of Green Dot stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $48.87, for a total value of $270,348.84. Following the completion of the transaction, the executive now owns 81,554 shares in the company, valued at approximately $3,985,543.98. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,488 shares of company stock valued at $712,159. Corporate insiders own 7.80% of the company’s stock.
Green Dot Company Profile
Green Dot Corporation operates as a financial technology and bank holding company in the United States. It operates in two segments, Account Services, and Processing and Settlement Services. The company offers deposit account programs, such network-branded reloadable prepaid debit cards under the consumer brand names of GPR cards, consumer and small business checking accounts, network-branded gift cards, secured credit cards, and other financial services.
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