Griffin Asset Management Inc. Invests $232,000 in Green Dot Co. (NYSE:GDOT)

Griffin Asset Management Inc. bought a new position in shares of Green Dot Co. (NYSE:GDOT) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 19,812 shares of the financial services provider’s stock, valued at approximately $232,000.

Several other institutional investors and hedge funds have also bought and sold shares of GDOT. Kent Lake Capital LLC acquired a new stake in Green Dot in the first quarter valued at approximately $7,464,000. SG Capital Management LLC acquired a new stake in Green Dot in the 1st quarter valued at $4,254,000. American Century Companies Inc. increased its stake in Green Dot by 79.0% during the 2nd quarter. American Century Companies Inc. now owns 322,692 shares of the financial services provider’s stock valued at $3,049,000 after purchasing an additional 142,377 shares in the last quarter. Thompson Siegel & Walmsley LLC raised its holdings in Green Dot by 24.9% during the second quarter. Thompson Siegel & Walmsley LLC now owns 525,377 shares of the financial services provider’s stock worth $4,965,000 after buying an additional 104,829 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Green Dot by 17.7% in the second quarter. Bank of New York Mellon Corp now owns 544,166 shares of the financial services provider’s stock valued at $5,142,000 after buying an additional 82,022 shares in the last quarter. 92.56% of the stock is owned by institutional investors.

Analyst Ratings Changes

GDOT has been the topic of a number of analyst reports. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $11.00 target price on shares of Green Dot in a report on Monday, July 22nd. Craig Hallum raised their target price on Green Dot from $10.00 to $11.00 and gave the company a “hold” rating in a report on Friday, October 4th. Finally, Barclays upped their price target on Green Dot from $7.00 to $10.00 and gave the stock an “underweight” rating in a report on Monday, September 23rd. One research 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. According to MarketBeat.com, Green Dot has an average rating of “Hold” and an average price target of $10.75.

Insider Buying and Selling

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

Green Dot Stock Up 3.1 %

Green Dot stock opened at $11.70 on Thursday. Green Dot Co. has a 52 week low of $7.30 and a 52 week high of $12.99. The company’s 50 day moving average price is $11.12 and its two-hundred day moving average price is $9.97. The stock has a market cap of $622.56 million, a P/E ratio of -24.89 and a beta of 0.92.

Green Dot (NYSE:GDOT) last issued its quarterly 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 company had revenue of $407.10 million during the quarter, compared to the consensus estimate of $381.87 million. During the same period last year, the business posted $0.20 earnings per share. Green Dot’s revenue was up 11.3% on a year-over-year basis. On average, equities analysts anticipate that Green Dot Co. will post 1 EPS for the current year.

About Green Dot

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.