Green Dot Co. (NYSE:GDOT) Short Interest Up 6.8% in September

by · The Cerbat Gem

Green Dot Co. (NYSE:GDOT – Get Free Report) was the recipient of a significant growth in short interest in September. As of September 30th, there was short interest totalling 1,580,000 shares, a growth of 6.8% from the September 15th total of 1,480,000 shares. Based on an average daily volume of 435,300 shares, the days-to-cover ratio is currently 3.6 days. Approximately 3.1% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GDOT. Craig Hallum upped their price objective on shares of Green Dot from $10.00 to $11.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Barclays boosted their target price on shares of Green Dot from $7.00 to $10.00 and gave the company an “underweight” rating in a report on Monday, September 23rd. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $11.00 price target on shares of Green Dot in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Green Dot currently has a consensus rating of “Hold” and an average price target of $10.75.

Read Our Latest Stock Analysis on GDOT

Insider Transactions at Green Dot

In other Green Dot news, major shareholder Topline Capital Partners, Lp bought 162,243 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The shares were acquired at an average cost of $11.87 per share, for a total transaction of $1,925,824.41. Following the transaction, the insider now directly owns 6,157,665 shares in the company, valued at approximately $73,091,483.55. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder Topline Capital Partners, Lp bought 162,243 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were purchased at an average cost of $11.87 per share, with a total value of $1,925,824.41. Following the acquisition, the insider now owns 6,157,665 shares of the company’s stock, valued at $73,091,483.55. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Topline Capital Management, Ll purchased 36,671 shares of Green Dot stock in a transaction on Monday, September 23rd. The stock was bought at an average price of $12.49 per share, for a total transaction of $458,020.79. Following the transaction, the insider now directly owns 5,995,422 shares in the company, valued at approximately $74,882,820.78. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Green Dot

A number of large investors have recently modified their holdings of the company. Nisa Investment Advisors LLC lifted its stake in shares of Green Dot by 162.0% in the second quarter. Nisa Investment Advisors LLC now owns 2,602 shares of the financial services provider’s stock valued at $25,000 after buying an additional 1,609 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Green Dot in the 2nd quarter worth about $25,000. Headlands Technologies LLC lifted its holdings in shares of Green Dot by 89.2% in the first quarter. Headlands Technologies LLC now owns 2,743 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 1,293 shares in the last quarter. Quarry LP bought a new position in Green Dot during the 2nd quarter valued at $32,000. Finally, Torno Capital LLC bought a new position in shares of Green Dot during the second quarter valued at about $38,000. 92.56% of the stock is currently owned by institutional investors.

Green Dot Stock Up 2.1 %

NYSE:GDOT opened at $11.95 on Friday. Green Dot has a twelve month low of $7.30 and a twelve month high of $12.99. The firm has a market capitalization of $635.86 million, a P/E ratio of -25.43 and a beta of 0.92. The company has a fifty day moving average of $11.18 and a 200-day moving average of $9.99.

Green Dot (NYSE:GDOT – Get Free Report) last issued its earnings results on Thursday, August 8th. The financial services provider reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. Green Dot had a positive return on equity of 4.01% and a negative net margin of 3.41%. The business had revenue of $407.10 million during the quarter, compared to analyst estimates of $381.87 million. During the same period in the previous year, the company posted $0.20 EPS. The firm’s revenue was up 11.3% compared to the same quarter last year. On average, analysts anticipate that Green Dot will post 1 EPS for the current fiscal year.

About Green Dot

(Get Free Report)

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.

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