AMI Asset Management Corp Boosts Stock Position in Green Dot Co. (NYSE:GDOT)

AMI Asset Management Corp grew its stake in Green Dot Co. (NYSE:GDOT) by 14.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 374,288 shares of the financial services provider’s stock after buying an additional 46,083 shares during the quarter. AMI Asset Management Corp’s holdings in Green Dot were worth $9,451,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Cutler Group LP acquired a new position in shares of Green Dot in the 2nd quarter valued at about $29,000. Neo Ivy Capital Management acquired a new position in Green Dot in the 2nd quarter worth about $63,000. Ladenburg Thalmann Financial Services Inc. raised its holdings in Green Dot by 38.1% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,346 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 371 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new position in Green Dot in the 2nd quarter worth about $68,000. Finally, Advisory Services Network LLC raised its holdings in shares of Green Dot by 81.8% during the second quarter. Advisory Services Network LLC now owns 2,000 shares of the financial services provider’s stock valued at $98,000 after acquiring an additional 900 shares during the last quarter. 88.87% of the stock is owned by institutional investors and hedge funds.

Shares of Green Dot stock opened at $25.41 on Thursday. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 10.04 and a beta of 1.11. Green Dot Co. has a fifty-two week low of $22.45 and a fifty-two week high of $93.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a 50 day moving average of $25.79 and a 200 day moving average of $42.79.

Green Dot (NYSE:GDOT) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.33. The company had revenue of $278.33 million during the quarter, compared to analyst estimates of $266.93 million. Green Dot had a return on equity of 16.77% and a net margin of 10.81%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.74 earnings per share. Analysts forecast that Green Dot Co. will post 2.18 EPS for the current year.

In related news, CRO Brett Narlinger sold 5,602 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $28.32, for a total value of $158,648.64. Following the completion of the transaction, the executive now directly owns 71,624 shares in the company, valued at $2,028,391.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 7.80% of the company’s stock.

A number of research firms have recently issued reports on GDOT. Canaccord Genuity began coverage on Green Dot in a research report on Thursday, September 12th. They issued a “hold” rating and a $29.00 price target for the company. Craig Hallum dropped their price target on Green Dot from $100.00 to $50.00 and set a “buy” rating for the company 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 price target for the company in a research report on Tuesday, August 13th. TheStreet lowered Green Dot from a “b-” rating to a “c+” rating in a research report on Thursday, August 8th. Finally, Deutsche Bank dropped their price target on Green Dot from $44.00 to $29.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $49.23.

About Green Dot

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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