Green Dot Co. (NYSE:GDOT) Stock Holdings Trimmed by Millennium Management LLC

Millennium Management LLC lessened its position in Green Dot Co. (NYSE:GDOT - Free Report) by 59.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 285,298 shares of the financial services provider's stock after selling 419,890 shares during the period. Millennium Management LLC owned about 0.54% of Green Dot worth $2,696,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Kent Lake Capital LLC acquired a new stake in Green Dot in the 1st quarter worth about $7,464,000. Bank of New York Mellon Corp boosted its position 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 worth $5,142,000 after acquiring an additional 82,022 shares during the last quarter. Thompson Siegel & Walmsley LLC grew its holdings in Green Dot by 24.9% in the second quarter. Thompson Siegel & Walmsley LLC now owns 525,377 shares of the financial services provider's stock valued at $4,965,000 after purchasing an additional 104,829 shares during the period. SG Capital Management LLC acquired a new position in Green Dot during the first quarter worth approximately $4,254,000. Finally, American Century Companies Inc. raised its stake in Green Dot by 79.0% during the second quarter. American Century Companies Inc. now owns 322,692 shares of the financial services provider's stock worth $3,049,000 after purchasing an additional 142,377 shares during the period. Hedge funds and other institutional investors own 92.56% of the company's stock.

Wall Street Analyst Weigh In

GDOT has been the subject of several research reports. Craig Hallum boosted their price objective on shares of Green Dot from $10.00 to $11.00 and gave the company a "hold" rating in a research note on Friday, October 4th. Barclays boosted their price target on Green Dot from $7.00 to $10.00 and gave the company an "underweight" rating in a research report on Monday, September 23rd. Finally, Keefe, Bruyette & Woods restated a "market perform" rating and issued a $11.00 price objective on shares of Green Dot in a report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, Green Dot presently has a consensus rating of "Hold" and an average target price of $10.75.

Green Dot Stock Performance

Green Dot stock traded up $0.35 during trading on Wednesday, reaching $11.70. 314,040 shares of the company's stock were exchanged, compared to its average volume of 557,834. The company's 50-day moving average is $11.12 and its two-hundred day moving average is $9.97. Green Dot Co. has a 52-week low of $7.30 and a 52-week high of $12.99. The firm has a market cap of $622.56 million, a price-to-earnings ratio of -24.89 and a beta of 0.92.

Green Dot (NYSE:GDOT - Get Free Report) last issued its earnings results on Thursday, August 8th. The financial services provider reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.02. The company had revenue of $407.10 million during the quarter, compared to the consensus estimate of $381.87 million. Green Dot had a positive return on equity of 4.01% and a negative net margin of 3.41%. The company's revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.20 earnings per share. Analysts anticipate that Green Dot Co. will post 1 EPS for the current year.

Insider Activity

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

Green Dot 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.