Connor Clark & Lunn Investment Management Ltd. Purchases 3,152 Shares of Green Dot Co. (NYSE:GDOT)

Connor Clark & Lunn Investment Management Ltd. boosted its position in Green Dot Co. (NYSE:GDOT) by 2.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 143,372 shares of the financial services provider’s stock after acquiring an additional 3,152 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.27% of Green Dot worth $1,525,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Illinois Municipal Retirement Fund lifted its holdings in shares of Green Dot by 12.2% in the fourth quarter. Illinois Municipal Retirement Fund now owns 27,070 shares of the financial services provider’s stock worth $288,000 after acquiring an additional 2,954 shares during the last quarter. Martingale Asset Management L P increased its position in Green Dot by 3.7% during the 3rd quarter. Martingale Asset Management L P now owns 93,596 shares of the financial services provider’s stock worth $1,096,000 after purchasing an additional 3,300 shares in the last quarter. New York State Common Retirement Fund lifted its stake in Green Dot by 63.1% in the 4th quarter. New York State Common Retirement Fund now owns 11,892 shares of the financial services provider’s stock valued at $127,000 after purchasing an additional 4,600 shares during the last quarter. Intech Investment Management LLC boosted its position in Green Dot by 33.1% in the third quarter. Intech Investment Management LLC now owns 20,007 shares of the financial services provider’s stock valued at $234,000 after buying an additional 4,977 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Green Dot by 3.0% during the fourth quarter. Principal Financial Group Inc. now owns 260,772 shares of the financial services provider’s stock worth $2,775,000 after buying an additional 7,642 shares during the last quarter. 92.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Topline Capital Management, Ll sold 380,611 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $10.44, for a total value of $3,973,578.84. Following the sale, the insider now directly owns 5,708,126 shares of the company’s stock, valued at approximately $59,592,835.44. This represents a 6.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Topline Capital Partners, Lp sold 331,339 shares of Green Dot stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $10.54, for a total transaction of $3,492,313.06. Following the transaction, the insider now directly owns 5,376,787 shares of the company’s stock, valued at $56,671,334.98. This represents a 5.80 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 959,180 shares of company stock valued at $10,071,696. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GDOT. Barclays cut their price objective on Green Dot from $10.00 to $7.00 and set an “underweight” rating on the stock in a report on Monday, March 3rd. Keefe, Bruyette & Woods reduced their price target on Green Dot from $12.00 to $10.00 and set a “market perform” rating on the stock in a report on Friday, February 28th. Finally, Craig Hallum raised Green Dot from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research note on Friday, March 14th.

Green Dot Stock Performance

NYSE GDOT opened at $7.55 on Thursday. The company has a market capitalization of $409.17 million, a price-to-earnings ratio of -7.19 and a beta of 1.06. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.05. Green Dot Co. has a twelve month low of $6.12 and a twelve month high of $13.58. The stock has a fifty day simple moving average of $8.44 and a 200 day simple moving average of $10.16.

Green Dot 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.