Prudential Financial Inc. Decreases Stock Position in Green Dot Co. (NYSE:GDOT)

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Prudential Financial Inc. cut its holdings in Green Dot Co. (NYSE:GDOT) by 42.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 32,799 shares of the financial services provider’s stock after selling 23,749 shares during the quarter. Prudential Financial Inc.’s holdings in Green Dot were worth $1,604,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in GDOT. TimesSquare Capital Management LLC purchased a new stake in Green Dot in the first quarter valued at about $18,215,000. Rice Hall James & Associates LLC purchased a new position in shares of Green Dot in the second quarter worth about $14,555,000. Stephens Investment Management Group LLC raised its stake in shares of Green Dot by 23.6% in the second quarter. Stephens Investment Management Group LLC now owns 1,106,376 shares of the financial services provider’s stock worth $54,102,000 after purchasing an additional 211,017 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in shares of Green Dot by 59.3% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 481,660 shares of the financial services provider’s stock worth $29,213,000 after purchasing an additional 179,300 shares during the last quarter. Finally, Alta Capital Management LLC purchased a new position in shares of Green Dot in the second quarter worth about $8,437,000. Institutional investors own 89.58% of the company’s stock.

Green Dot stock traded up $0.41 during midday trading on Thursday, hitting $27.72. 15,205 shares of the company were exchanged, compared to its average volume of 625,306. The firm has a market capitalization of $1.44 billion, a PE ratio of 10.89 and a beta of 1.10. Green Dot Co. has a fifty-two week low of $24.19 and a fifty-two week high of $93.00. The business has a fifty day simple moving average of $32.73 and a two-hundred day simple moving average of $48.90. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.01 and a current ratio of 1.01.

Green Dot (NYSE:GDOT) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $0.78 EPS for the quarter, topping the consensus estimate of $0.45 by $0.33. The firm had revenue of $278.33 million for the quarter, compared to analyst estimates of $266.93 million. Green Dot had a return on equity of 16.77% and a net margin of 10.81%. Green Dot’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the company earned $0.74 earnings per share. As a group, equities analysts expect that Green Dot Co. will post 2.18 earnings per share for the current year.

In related news, CRO Brett Narlinger sold 5,602 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $28.32, for a total transaction of $158,648.64. Following the sale, the executive now directly owns 71,624 shares of the company’s stock, valued at $2,028,391.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 7.80% of the stock is owned by company insiders.

GDOT has been the subject of several research analyst reports. Barclays set a $41.00 price objective on Green Dot and gave the stock a “buy” rating in a research note on Monday, August 12th. Canaccord Genuity initiated coverage on Green Dot in a research note on Thursday, September 12th. They issued a “hold” rating and a $29.00 price objective for the company. TheStreet cut Green Dot from a “b-” rating to a “c+” rating in a research note on Thursday, August 8th. Needham & Company LLC reduced their price objective on Green Dot to $42.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, Deutsche Bank reduced their price objective on Green Dot from $44.00 to $29.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $49.69.

Green Dot Company Profile

Green Dot Corporation operates as a financial technology and bank holding company in the United States. It operates in two segments, Account Services, and Processing and Settlement Services. The company offers deposit account programs, such network-branded reloadable prepaid debit cards under the consumer brand names of GPR cards, consumer and small business checking accounts, network-branded gift cards, secured credit cards, and other financial services.

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Institutional Ownership by Quarter for Green Dot (NYSE:GDOT)

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