Craig Hallum Upgrades Green Dot (NYSE:GDOT) to “Buy”

Green Dot (NYSE:GDOT) was upgraded by equities research analysts at Craig Hallum from a “hold” rating to a “buy” rating in a note issued to investors on Friday, MarketBeat Ratings reports. The firm presently has a $14.00 price objective on the financial services provider’s stock. Craig Hallum’s target price suggests a potential upside of 111.32% from the stock’s previous close.

A number of other equities research analysts also recently commented on the company. Keefe, Bruyette & Woods reduced their target price on Green Dot from $12.00 to $10.00 and set a “market perform” rating on the stock in a research report on Friday, February 28th. Barclays decreased their target price on shares of Green Dot from $10.00 to $7.00 and set an “underweight” rating on the stock in a research report on Monday, March 3rd.

Green Dot Stock Up 4.5 %

Shares of NYSE GDOT opened at $6.63 on Friday. Green Dot has a 1 year low of $6.12 and a 1 year high of $13.58. The company has a market capitalization of $356.34 million, a P/E ratio of -6.31 and a beta of 1.06. The company has a 50 day simple moving average of $8.70 and a 200-day simple moving average of $10.29. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.52 and a quick ratio of 0.52.

Insider Buying and Selling at Green Dot

In related news, major shareholder Topline Capital Partners, Lp sold 331,339 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $10.54, for a total transaction of $3,492,313.06. Following the sale, the insider now directly owns 5,376,787 shares in the company, valued at approximately $56,671,334.98. This represents a 5.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Topline Capital Management, Ll sold 247,230 shares of Green Dot stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $10.54, for a total transaction of $2,605,804.20. Following the completion of the transaction, the insider now owns 6,088,737 shares of the company’s stock, valued at $64,175,287.98. This represents a 3.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 959,180 shares of company stock valued at $10,071,696 in the last 90 days. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Green Dot

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Mackenzie Financial Corp purchased a new position in Green Dot in the fourth quarter valued at $291,000. ProShare Advisors LLC boosted its position in shares of Green Dot by 45.8% during the 4th quarter. ProShare Advisors LLC now owns 16,192 shares of the financial services provider’s stock worth $172,000 after acquiring an additional 5,089 shares in the last quarter. Nuveen Asset Management LLC boosted its position in shares of Green Dot by 1.1% during the 4th quarter. Nuveen Asset Management LLC now owns 647,396 shares of the financial services provider’s stock worth $6,888,000 after acquiring an additional 6,964 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Green Dot by 10.6% in the 4th quarter. Millennium Management LLC now owns 71,452 shares of the financial services provider’s stock valued at $760,000 after acquiring an additional 6,844 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Green Dot by 4.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,460 shares of the financial services provider’s stock worth $324,000 after acquiring an additional 1,292 shares in the last quarter. 92.56% of the stock is currently owned by institutional investors and hedge funds.

About Green Dot

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.