Sunbelt Securities Inc. Acquires New Stake in Green Dot Co. (NYSE:GDOT)

Sunbelt Securities Inc. acquired a new stake in shares of Green Dot Co. (NYSE:GDOT) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 16,000 shares of the financial services provider’s stock, valued at approximately $782,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. boosted its stake in shares of Green Dot by 87.7% during the first quarter. Jacobs Levy Equity Management Inc. now owns 191,117 shares of the financial services provider’s stock valued at $11,591,000 after acquiring an additional 89,310 shares during the last quarter. Globeflex Capital L P lifted its position in Green Dot by 72,871.4% during the first quarter. Globeflex Capital L P now owns 10,216 shares of the financial services provider’s stock worth $620,000 after buying an additional 10,202 shares during the period. Aurora Investment Counsel purchased a new position in Green Dot during the first quarter worth about $1,686,000. KAMES CAPITAL plc lifted its position in Green Dot by 12.7% during the second quarter. KAMES CAPITAL plc now owns 1,081,699 shares of the financial services provider’s stock worth $52,884,000 after buying an additional 121,850 shares during the period. Finally, Securian Asset Management Inc purchased a new position in Green Dot during the first quarter worth about $351,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

GDOT has been the topic of several recent analyst reports. Northland Securities reduced their target price on Green Dot from $58.00 to $35.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. Zacks Investment Research upgraded Green Dot from a “sell” rating to a “hold” rating and set a $29.00 target price on the stock in a research report on Tuesday. Deutsche Bank reduced their target price on Green Dot from $44.00 to $29.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Keefe, Bruyette & Woods downgraded Green Dot from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $60.00 to $35.00 in a research report on Thursday, August 8th. Finally, Loop Capital reiterated a “buy” rating and set a $75.00 target price on shares of Green Dot in a research report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $58.82.



Shares of Green Dot stock traded down $0.35 during trading hours on Wednesday, reaching $28.87. The stock had a trading volume of 29,875 shares, compared to its average volume of 805,227. The business’s 50 day simple moving average is $46.28. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 11.23 and a beta of 0.96. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.01 and a quick ratio of 1.04. Green Dot Co. has a 1 year low of $24.19 and a 1 year high of $93.00.

Green Dot (NYSE:GDOT) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.33. Green Dot had a return on equity of 16.77% and a net margin of 10.81%. The business had revenue of $278.33 million during the quarter, compared to analyst estimates of $266.93 million. During the same quarter last year, the firm earned $0.74 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, equities analysts predict that Green Dot Co. will post 2.09 earnings per share for the current fiscal year.

In other news, insider Konrad Alt sold 919 shares of Green Dot stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $41.91, for a total value of $38,515.29. Following the completion of the transaction, the insider now owns 76,724 shares in the company, valued at approximately $3,215,502.84. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Glinda Bridgforth-Hodges sold 6,787 shares of Green Dot stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $47.43, for a total value of $321,907.41. Following the completion of the transaction, the director now owns 2,578 shares of the company’s stock, valued at approximately $122,274.54. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,238 shares of company stock valued at $630,772. 7.80% of the stock is owned by insiders.

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

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