Connors Investor Services Inc. Buys 62,850 Shares of Green Dot Corporation $GDOT

Connors Investor Services Inc. raised its stake in Green Dot Corporation (NYSE:GDOT) by 23.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 335,932 shares of the financial services provider’s stock after purchasing an additional 62,850 shares during the quarter. Connors Investor Services Inc. owned 0.61% of Green Dot worth $3,621,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Brooklyn Investment Group increased its stake in shares of Green Dot by 350,400.0% during the first quarter. Brooklyn Investment Group now owns 3,505 shares of the financial services provider’s stock valued at $30,000 after buying an additional 3,504 shares during the period. GAMMA Investing LLC increased its stake in shares of Green Dot by 152.0% during the first quarter. GAMMA Investing LLC now owns 5,663 shares of the financial services provider’s stock valued at $48,000 after buying an additional 3,416 shares during the period. CWM LLC increased its stake in shares of Green Dot by 131.8% during the second quarter. CWM LLC now owns 8,664 shares of the financial services provider’s stock valued at $93,000 after buying an additional 4,926 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Green Dot during the second quarter valued at approximately $117,000. Finally, Caxton Associates LLP purchased a new position in shares of Green Dot during the first quarter valued at approximately $96,000. Institutional investors own 92.56% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on GDOT. Northland Securities set a $18.00 target price on Green Dot in a research note on Wednesday, October 15th. Zacks Research cut Green Dot from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Green Dot in a research note on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods upped their price target on Green Dot from $11.00 to $12.00 and gave the stock a “market perform” rating in a research note on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $13.50.

Green Dot Trading Down 0.1%

Green Dot stock opened at $12.74 on Thursday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.07. The business’s fifty day simple moving average is $13.52 and its two-hundred day simple moving average is $10.93. Green Dot Corporation has a 12 month low of $6.12 and a 12 month high of $15.41. The company has a market capitalization of $705.39 million, a price-to-earnings ratio of -28.94 and a beta of 0.78.

Green Dot (NYSE:GDOT) last announced its quarterly earnings results on Monday, August 11th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.23. The firm had revenue of $501.16 million for the quarter, compared to the consensus estimate of $496.49 million. Green Dot had a positive return on equity of 9.93% and a negative net margin of 1.24%.The company’s quarterly revenue was up 23.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.25 earnings per share. Green Dot has set its FY 2025 guidance at 1.280-1.420 EPS. As a group, equities analysts predict that Green Dot Corporation will post 0.87 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Christian Devin Ruppel sold 27,931 shares of the company’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $12.39, for a total transaction of $346,065.09. Following the transaction, the insider directly owned 226,656 shares of the company’s stock, valued at $2,808,267.84. This represents a 10.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.40% of the stock is currently owned by insiders.

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.