Connors Investor Services Inc. Raises Stock Holdings in Green Dot Corporation $GDOT

Connors Investor Services Inc. increased its holdings in shares of Green Dot Corporation (NYSE:GDOT) by 23.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 335,932 shares of the financial services provider’s stock after purchasing an additional 62,850 shares during the quarter. Connors Investor Services Inc.’s holdings in Green Dot were worth $3,621,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its position in shares of Green Dot by 109.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 23,951 shares of the financial services provider’s stock worth $258,000 after purchasing an additional 12,533 shares in the last quarter. CWM LLC grew its position in shares of Green Dot by 131.8% during the second quarter. CWM LLC now owns 8,664 shares of the financial services provider’s stock worth $93,000 after purchasing an additional 4,926 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in shares of Green Dot during the second quarter worth about $413,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Green Dot during the second quarter worth about $117,000. Finally, DLD Asset Management LP purchased a new stake in shares of Green Dot during the first quarter worth about $549,000. Hedge funds and other institutional investors own 92.56% of the company’s stock.

Insider Activity

In other news, insider Christian Devin Ruppel sold 27,931 shares of Green Dot stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $12.39, for a total value of $346,065.09. Following the transaction, the insider directly owned 226,656 shares in the company, valued at approximately $2,808,267.84. This trade represents a 10.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on GDOT shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Green Dot in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods raised their target price on shares of Green Dot from $11.00 to $12.00 and gave the stock a “market perform” rating in a research report on Friday, July 11th. Northland Securities set a $18.00 price target on shares of Green Dot in a research note on Wednesday, October 15th. Finally, Zacks Research downgraded shares of Green Dot from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 16th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $13.50.

Green Dot Trading Down 0.1%

Shares of NYSE GDOT opened at $12.74 on Thursday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.07. The business has a fifty day simple moving average of $13.52 and a two-hundred day simple moving average of $10.93. The firm has a market cap of $705.39 million, a PE ratio of -28.94 and a beta of 0.78. Green Dot Corporation has a twelve month low of $6.12 and a twelve month high of $15.41.

Green Dot (NYSE:GDOT) last announced its quarterly earnings results on Monday, August 11th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.23. Green Dot had a positive return on equity of 9.93% and a negative net margin of 1.24%.The business had revenue of $501.16 million for the quarter, compared to the consensus estimate of $496.49 million. During the same period last year, the business posted $0.25 EPS. The business’s revenue was up 23.9% compared to the same quarter last year. Green Dot has set its FY 2025 guidance at 1.280-1.420 EPS. Analysts expect that Green Dot Corporation will post 0.87 earnings per share for the current fiscal year.

Green Dot Company Profile

Green Dot Corporation, a financial technology and registered bank holding company, provides various financial services to consumers and businesses in the United States. It operates through three segments: Consumer Services, Business to Business Services, and Money Movement Services. The company provides deposit account programs, including consumer and small business checking account products, network-branded reloadable prepaid debit cards and gift cards, and secured credit programs.