Pinebridge Investments L.P. Cuts Holdings in Green Dot Co. (GDOT)

Pinebridge Investments L.P. reduced its position in Green Dot Co. (NYSE:GDOT) by 21.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 41,489 shares of the financial services provider’s stock after selling 11,547 shares during the period. Pinebridge Investments L.P. owned 0.08% of Green Dot worth $2,057,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Rothschild Asset Management Inc. acquired a new stake in Green Dot in the 3rd quarter worth approximately $29,051,000. Renaissance Technologies LLC boosted its stake in Green Dot by 57.4% in the 2nd quarter. Renaissance Technologies LLC now owns 821,842 shares of the financial services provider’s stock worth $31,666,000 after purchasing an additional 299,842 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Green Dot by 202.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 439,593 shares of the financial services provider’s stock worth $16,937,000 after purchasing an additional 294,121 shares in the last quarter. GMT Capital Corp acquired a new stake in Green Dot in the 3rd quarter worth approximately $13,178,000. Finally, Fuller & Thaler Asset Management Inc. acquired a new stake in Green Dot in the 3rd quarter worth approximately $7,420,000. Institutional investors and hedge funds own 79.26% of the company’s stock.

Green Dot Co. (NYSE:GDOT) traded up $0.87 during trading hours on Thursday, hitting $60.43. 226,500 shares of the stock traded hands, compared to its average volume of 355,454. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market cap of $3,026.84, a price-to-earnings ratio of 34.83 and a beta of 0.96. Green Dot Co. has a 52-week low of $23.39 and a 52-week high of $65.88.

Green Dot (NYSE:GDOT) last issued its quarterly earnings results on Tuesday, November 7th. The financial services provider reported $0.34 EPS for the quarter, topping the consensus estimate of $0.20 by $0.14. The company had revenue of $201.60 million during the quarter, compared to analyst estimates of $191.33 million. Green Dot had a net margin of 8.61% and a return on equity of 12.55%. The firm’s revenue was up 30.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.21 EPS. equities research analysts forecast that Green Dot Co. will post 1.71 EPS for the current year.

Several analysts have commented on GDOT shares. Zacks Investment Research upgraded shares of Green Dot from a “hold” rating to a “strong-buy” rating and set a $52.00 price objective for the company in a research note on Monday, August 14th. Craig Hallum started coverage on shares of Green Dot in a research note on Thursday, October 5th. They set a “buy” rating and a $70.00 price objective for the company. Lake Street Capital cut shares of Green Dot from a “buy” rating to a “hold” rating and lifted their price objective for the company from $44.00 to $55.00 in a research note on Wednesday, October 11th. Morgan Stanley set a $60.00 price objective on shares of Green Dot and gave the company a “hold” rating in a research note on Monday, November 20th. Finally, Cowen restated a “hold” rating and set a $52.00 price objective on shares of Green Dot in a research note on Friday, November 10th. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Green Dot has an average rating of “Buy” and a consensus target price of $53.36.

In other Green Dot news, General Counsel John C. Ricci sold 12,507 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $62.75, for a total value of $784,814.25. Following the transaction, the general counsel now owns 60,707 shares of the company’s stock, valued at $3,809,364.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Steven W. Streit sold 7,995 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $47.58, for a total transaction of $380,402.10. Following the completion of the transaction, the insider now directly owns 217,010 shares in the company, valued at approximately $10,325,335.80. The disclosure for this sale can be found here. In the last three months, insiders sold 167,756 shares of company stock valued at $9,576,375. 11.00% of the stock is owned by insiders.

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Green Dot Profile

Green Dot Corporation (Green Dot) is a pro-consumer financial technology innovator. The Company is a provider of reloadable prepaid debit cards and cash reload processing services in the United States. The Company operates through two segments: Account Services, and Processing and Settlement Services.

Institutional Ownership by Quarter for Green Dot (NYSE:GDOT)

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