Walmart Inc. Takes Position in Green Dot Corporation $GDOT

Walmart Inc. purchased a new position in shares of Green Dot Corporation (NYSE:GDOT) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 975,000 shares of the financial services provider’s stock, valued at approximately $13,172,000. Green Dot comprises about 1.8% of Walmart Inc.’s holdings, making the stock its 3rd largest holding.

Several other institutional investors have also recently made changes to their positions in GDOT. Rangeley Capital LLC acquired a new position in Green Dot in the first quarter valued at approximately $1,826,000. OMERS ADMINISTRATION Corp increased its stake in Green Dot by 167.2% during the first quarter. OMERS ADMINISTRATION Corp now owns 330,200 shares of the financial services provider’s stock worth $3,705,000 after acquiring an additional 206,600 shares during the last quarter. Jacobs Asset Management LLC raised its position in Green Dot by 115.2% in the first quarter. Jacobs Asset Management LLC now owns 225,000 shares of the financial services provider’s stock valued at $2,524,000 after purchasing an additional 120,464 shares during the period. Entropy Technologies LP purchased a new stake in Green Dot in the first quarter valued at $173,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Green Dot by 167.0% in the 1st quarter. Renaissance Technologies LLC now owns 61,400 shares of the financial services provider’s stock valued at $689,000 after purchasing an additional 38,400 shares during the last quarter. Hedge funds and other institutional investors own 92.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Zacks Research cut Green Dot from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Green Dot in a report on Friday, July 17th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $16.12.

Green Dot Stock Up 0.6%

Green Dot stock opened at $13.54 on Wednesday. The firm has a market capitalization of $771.42 million, a P/E ratio of -26.54 and a beta of 0.84. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.07. Green Dot Corporation has a twelve month low of $10.10 and a twelve month high of $15.41. The stock’s fifty day simple moving average is $13.26 and its 200-day simple moving average is $12.43.

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

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.