Renaissance Technologies LLC Grows Stock Holdings in Green Dot Corporation $GDOT

Renaissance Technologies LLC boosted its stake in shares of Green Dot Corporation (NYSE:GDOT) by 167.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 61,400 shares of the financial services provider’s stock after buying an additional 38,400 shares during the quarter. Renaissance Technologies LLC owned 0.11% of Green Dot worth $689,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Summit Securities Group LLC acquired a new stake in shares of Green Dot during the 4th quarter valued at approximately $66,000. Tower Research Capital LLC TRC grew its holdings in shares of Green Dot by 23.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,504 shares of the financial services provider’s stock worth $70,000 after acquiring an additional 1,221 shares during the period. OLD National Bancorp IN purchased a new position in Green Dot in the 4th quarter valued at approximately $128,000. Caxton Associates LLP purchased a new position in Green Dot in the 1st quarter valued at approximately $96,000. Finally, DRW Securities LLC purchased a new position in Green Dot in the 4th quarter valued at approximately $154,000. 92.56% of the stock is owned by hedge funds and other institutional investors.

Green Dot Stock Performance

Green Dot stock opened at $13.51 on Monday. Green Dot Corporation has a fifty-two week low of $10.10 and a fifty-two week high of $15.41. The company has a market capitalization of $769.88 million, a price-to-earnings ratio of -26.49 and a beta of 0.84. The stock has a fifty day moving average of $13.23 and a two-hundred day moving average of $12.42. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.45 and a current ratio of 0.45.

Green Dot (NYSE:GDOT) last issued its quarterly earnings data on Monday, August 10th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.11). The company had revenue of $591.29 million during the quarter, compared to analysts’ expectations of $541.16 million. Green Dot had a negative net margin of 1.14% and a positive return on equity of 6.92%. On average, analysts anticipate that Green Dot Corporation will post 1.33 EPS for the current fiscal year.

Analysts Set New Price Targets

GDOT has been the topic of a number of research analyst reports. Zacks Research downgraded Green Dot from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Green Dot in a research note on Friday, July 17th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $16.12.

Green Dot Profile

Green Dot Corporation (NYSE: GDOT) is a financial technology and bank holding company that provides prepaid debit cards, cash reload processing services and consumer banking products through its subsidiary, Green Dot Bank. The firm offers reloadable prepaid cards under its own brand and through partnerships with retailers, payments networks and banks. In addition to consumer-focused prepaid card accounts, Green Dot delivers payroll card services, government disbursement programs and B2B payment solutions that enable businesses to distribute funds digitally to end users.

Founded in 1999 by Steve Streit and headquartered in Austin, Texas, Green Dot began as a prepaid MasterCard provider sold through retail outlets.