Green Dot (NYSE:GDOT) Stock Price Down 4% – Here’s What Happened

Green Dot Co. (NYSE:GDOT)’s stock price fell 4% on Friday . The stock traded as low as $10.12 and last traded at $10.15. 167,455 shares changed hands during trading, a decline of 59% from the average session volume of 408,731 shares. The stock had previously closed at $10.57.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Craig Hallum increased their price target on Green Dot from $10.00 to $11.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Barclays lifted their price target on Green Dot from $7.00 to $10.00 and gave the stock an “underweight” rating in a research report on Monday, September 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $10.75.

Green Dot Stock Down 4.8 %

The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $541.10 million, a PE ratio of -9.58 and a beta of 0.90. The business has a fifty day moving average of $10.90 and a 200 day moving average of $10.63.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Headlands Technologies LLC increased its stake in shares of Green Dot by 44.3% in the second quarter. Headlands Technologies LLC now owns 3,957 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 1,214 shares during the period. Point72 Asset Management L.P. lifted its position in shares of Green Dot by 7.3% during the second quarter. Point72 Asset Management L.P. now owns 21,130 shares of the financial services provider’s stock worth $200,000 after purchasing an additional 1,430 shares in the last quarter. Amalgamated Bank boosted its holdings in Green Dot by 14.0% in the third quarter. Amalgamated Bank now owns 15,607 shares of the financial services provider’s stock valued at $183,000 after acquiring an additional 1,920 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Green Dot by 12.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,125 shares of the financial services provider’s stock worth $200,000 after acquiring an additional 2,331 shares during the period. Finally, nVerses Capital LLC bought a new position in Green Dot during the second quarter worth about $25,000. 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.