Inspire Investing LLC Purchases New Position in Green Dot Corporation $GDOT

Inspire Investing LLC acquired a new stake in Green Dot Corporation (NYSE:GDOT) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 145,535 shares of the financial services provider’s stock, valued at approximately $1,633,000.

Other hedge funds also recently made changes to their positions in the company. Summit Securities Group LLC purchased a new stake in shares of Green Dot in the 4th quarter valued at about $66,000. Tower Research Capital LLC TRC grew its stake in Green Dot by 23.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,504 shares of the financial services provider’s stock worth $70,000 after buying an additional 1,221 shares during the last quarter. Caxton Associates LLP acquired a new position in Green Dot during the first quarter worth approximately $96,000. OLD National Bancorp IN purchased a new stake in Green Dot in the fourth quarter valued at approximately $128,000. Finally, DRW Securities LLC purchased a new stake in Green Dot in the fourth quarter valued at approximately $154,000. Hedge funds and other institutional investors own 92.56% of the company’s stock.

Green Dot Stock Up 1.1%

Shares of NYSE:GDOT opened at $13.49 on Wednesday. The company has a market cap of $764.39 million, a price-to-earnings ratio of -10.22 and a beta of 0.86. Green Dot Corporation has a fifty-two week low of $9.31 and a fifty-two week high of $15.41. The firm’s 50-day simple moving average is $12.75 and its 200-day simple moving average is $12.27. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.07.

Green Dot (NYSE:GDOT) last announced its quarterly earnings data on Monday, May 11th. The financial services provider reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.24. Green Dot had a negative net margin of 3.25% and a positive return on equity of 7.56%. The firm had revenue of $652.03 million during the quarter, compared to the consensus estimate of $597.39 million. As a group, equities research analysts predict that Green Dot Corporation will post 1.33 earnings per share for the current year.

Analysts Set New Price Targets

GDOT has been the topic of a number of research reports. Zacks Research upgraded shares of Green Dot from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 29th. Craig Hallum reiterated a “buy” rating and issued a $18.00 price target on shares of Green Dot in a research report on Tuesday, March 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Green Dot in a research note on Tuesday, April 21st. Finally, Wall Street Zen raised shares of Green Dot from a “sell” rating to a “hold” rating in a research report on Sunday, March 22nd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $14.75.

About Green Dot

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.