Connor Clark & Lunn Investment Management Ltd. Reduces Stock Holdings in Green Dot Co. (NYSE:GDOT)

Connor Clark & Lunn Investment Management Ltd. decreased its position in shares of Green Dot Co. (NYSE:GDOT - Free Report) by 34.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 140,220 shares of the financial services provider's stock after selling 74,746 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.26% of Green Dot worth $1,642,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. nVerses Capital LLC acquired a new stake in shares of Green Dot in the second quarter valued at approximately $25,000. Nisa Investment Advisors LLC boosted its holdings 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 valued at $25,000 after acquiring an additional 1,609 shares during the last quarter. Quarry LP acquired a new stake in Green Dot in the second quarter worth about $32,000. Headlands Technologies LLC lifted its position in Green Dot by 44.3% during the 2nd quarter. Headlands Technologies LLC now owns 3,957 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 1,214 shares during the period. Finally, Torno Capital LLC bought a new stake in shares of Green Dot during the second quarter worth approximately $38,000. 92.56% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Green Dot

In related news, insider Topline Capital Management, Ll bought 36,671 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was acquired at an average cost of $12.49 per share, with a total value of $458,020.79. Following the transaction, the insider now directly owns 5,995,422 shares in the company, valued at approximately $74,882,820.78. This trade represents a 0.62 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Topline Capital Partners, Lp bought 135,123 shares of Green Dot stock in a transaction that occurred on Friday, November 8th. The stock was bought at an average price of $10.94 per share, for a total transaction of $1,478,245.62. Following the completion of the acquisition, the insider now directly owns 6,292,788 shares of the company's stock, valued at $68,843,100.72. The trade was a 2.19 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 334,037 shares of company stock valued at $3,862,091. 1.10% of the stock is owned by corporate insiders.

Green Dot Stock Performance

GDOT traded down $0.23 during trading on Tuesday, hitting $10.20. The stock had a trading volume of 379,382 shares, compared to its average volume of 545,101. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.52 and a quick ratio of 0.52. The firm has a market cap of $548.39 million, a price-to-earnings ratio of -9.87 and a beta of 0.91. The company has a 50 day moving average price of $11.43 and a 200-day moving average price of $10.50. Green Dot Co. has a one year low of $7.70 and a one year high of $13.58.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Barclays upped their price target on Green Dot from $7.00 to $10.00 and gave the company an "underweight" rating in a research note on Monday, September 23rd. Craig Hallum lifted their price target on shares of Green Dot from $10.00 to $11.00 and gave the stock a "hold" rating in a research report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Green Dot has an average rating of "Hold" and an average target price of $10.75.

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.