Green Dot (NYSE:GDOT) Shares Up 4.3% on Insider Buying Activity

Green Dot Co. (NYSE:GDOT) shares were up 4.3% during mid-day trading on Tuesday after an insider bought additional shares in the company. The company traded as high as $11.21 and last traded at $11.19. Approximately 80,915 shares changed hands during trading, a decline of 85% from the average daily volume of 543,469 shares. The stock had previously closed at $10.73.

Specifically, major shareholder Topline Capital Partners, Lp acquired 135,123 shares of the business’s stock in a transaction on Friday, November 8th. The stock was purchased at an average price of $10.94 per share, with a total value of $1,478,245.62. Following the acquisition, the insider now directly owns 6,292,788 shares of the company’s stock, valued at approximately $68,843,100.72. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Wall Street Analysts Forecast Growth

GDOT has been the subject of several research analyst reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $11.00 price target on shares of Green Dot in a research note on Monday, July 22nd. 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. Finally, Barclays upped their price objective on shares of Green Dot from $7.00 to $10.00 and gave the stock an “underweight” rating in a report on Monday, September 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Green Dot presently has a consensus rating of “Hold” and a consensus price target of $10.75.

Green Dot Stock Up 6.2 %

The business has a 50 day moving average of $11.52 and a 200 day moving average of $10.39. The firm has a market cap of $611.78 million, a price-to-earnings ratio of -10.74 and a beta of 0.91.

Hedge Funds Weigh In On Green Dot

Several large investors have recently bought and sold shares of GDOT. nVerses Capital LLC bought a new position in shares of Green Dot during the 2nd quarter worth approximately $25,000. Nisa Investment Advisors LLC increased its position in 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 worth $25,000 after buying an additional 1,609 shares in the last quarter. Headlands Technologies LLC boosted its stake in Green Dot by 89.2% during the first quarter. Headlands Technologies LLC now owns 2,743 shares of the financial services provider’s stock valued at $26,000 after buying an additional 1,293 shares during the last quarter. Quarry LP purchased a new position in Green Dot during the 2nd quarter worth $32,000. Finally, Torno Capital LLC purchased a new position in Green Dot during the 2nd quarter worth $38,000. 92.56% of the stock is currently owned by institutional investors and hedge funds.

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.