Prudential Financial Inc. Grows Stake in Green Dot Co. (NYSE:GDOT)

Prudential Financial Inc. raised its stake in Green Dot Co. (NYSE:GDOT - Free Report) by 135.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 660,919 shares of the financial services provider's stock after acquiring an additional 380,692 shares during the quarter. Prudential Financial Inc. owned approximately 1.23% of Green Dot worth $7,032,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Intech Investment Management LLC lifted its stake in shares of Green Dot by 33.1% during the third quarter. Intech Investment Management LLC now owns 20,007 shares of the financial services provider's stock valued at $234,000 after buying an additional 4,977 shares during the period. Quantbot Technologies LP lifted its stake in shares of Green Dot by 49.7% during the 3rd quarter. Quantbot Technologies LP now owns 30,750 shares of the financial services provider's stock worth $360,000 after purchasing an additional 10,212 shares during the period. FMR LLC boosted its holdings in shares of Green Dot by 62.8% during the third quarter. FMR LLC now owns 43,835 shares of the financial services provider's stock worth $513,000 after purchasing an additional 16,917 shares during the last quarter. Public Sector Pension Investment Board grew its position in shares of Green Dot by 13.2% in the third quarter. Public Sector Pension Investment Board now owns 114,003 shares of the financial services provider's stock valued at $1,335,000 after purchasing an additional 13,300 shares during the period. Finally, Martingale Asset Management L P increased its stake in Green Dot by 3.7% in the third quarter. Martingale Asset Management L P now owns 93,596 shares of the financial services provider's stock valued at $1,096,000 after purchasing an additional 3,300 shares during the last quarter. 92.56% of the stock is currently owned by hedge funds and other institutional investors.

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Green Dot Trading Down 8.8 %

Shares of NYSE GDOT traded down $0.72 during midday trading on Friday, hitting $7.44. The stock had a trading volume of 1,464,450 shares, compared to its average volume of 595,630. The company has a fifty day moving average price of $8.26 and a 200 day moving average price of $9.91. The company has a market capitalization of $403.47 million, a price-to-earnings ratio of -7.09 and a beta of 1.06. Green Dot Co. has a 1-year low of $6.12 and a 1-year high of $13.58. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.05.

Analysts Set New Price Targets

Several analysts have commented on GDOT shares. Craig Hallum upgraded Green Dot from a "hold" rating to a "buy" rating and set a $14.00 price target for the company in a report on Friday, March 14th. Barclays lowered their target price on shares of Green Dot from $10.00 to $7.00 and set an "underweight" rating for the company in a report on Monday, March 3rd. Finally, Keefe, Bruyette & Woods cut their price target on shares of Green Dot from $12.00 to $10.00 and set a "market perform" rating on the stock in a research note on Friday, February 28th.

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.