Morton Capital Management LLC CA Has $178,000 Position in Green Dot Co. (NYSE:GDOT)

Morton Capital Management LLC CA decreased its position in shares of Green Dot Co. (NYSE:GDOT) by 18.1% during the 4th quarter, HoldingsChannel reports. The fund owned 17,946 shares of the financial services provider’s stock after selling 3,960 shares during the period. Morton Capital Management LLC CA’s holdings in Green Dot were worth $178,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of GDOT. PNC Financial Services Group Inc. raised its position in Green Dot by 22.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,718 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 688 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Green Dot in the 2nd quarter worth about $114,000. Point72 Middle East FZE raised its position in shares of Green Dot by 3,257.1% in the 2nd quarter. Point72 Middle East FZE now owns 6,177 shares of the financial services provider’s stock worth $116,000 after acquiring an additional 5,993 shares in the last quarter. State of Wyoming grew its stake in shares of Green Dot by 7.7% in the 4th quarter. State of Wyoming now owns 8,812 shares of the financial services provider’s stock valued at $139,000 after buying an additional 633 shares during the period. Finally, Caxton Associates LP acquired a new stake in shares of Green Dot in the 3rd quarter valued at about $141,000. Institutional investors and hedge funds own 92.56% of the company’s stock.

Insider Buying and Selling at Green Dot

In other Green Dot news, insider Principal Co Lp Starboard sold 150,000 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $8.17, for a total transaction of $1,225,500.00. Following the sale, the insider now owns 276,595 shares of the company’s stock, valued at approximately $2,259,781.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CRO Christian Devin Ruppel purchased 33,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were purchased at an average price of $9.06 per share, with a total value of $298,980.00. Following the completion of the acquisition, the executive now owns 101,715 shares in the company, valued at approximately $921,537.90. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Principal Co Lp Starboard sold 150,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $8.17, for a total transaction of $1,225,500.00. Following the completion of the transaction, the insider now directly owns 276,595 shares in the company, valued at approximately $2,259,781.15. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on GDOT shares. Keefe, Bruyette & Woods reduced their target price on Green Dot from $15.00 to $12.50 and set a “market perform” rating for the company in a research note on Wednesday, February 28th. Barclays downgraded Green Dot from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $8.00 to $7.00 in a research note on Thursday, December 14th. TheStreet downgraded Green Dot from a “c-” rating to a “d” rating in a research note on Thursday, February 1st. Finally, Truist Financial lifted their price target on Green Dot from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Green Dot presently has an average rating of “Hold” and an average target price of $11.13.

Green Dot Price Performance

Shares of NYSE GDOT traded up $0.29 during midday trading on Wednesday, reaching $9.19. The company’s stock had a trading volume of 539,373 shares, compared to its average volume of 755,473. The stock has a market capitalization of $485.24 million, a P/E ratio of 70.66 and a beta of 1.03. The firm has a 50 day moving average price of $8.74 and a 200-day moving average price of $10.05. Green Dot Co. has a 12-month low of $7.30 and a 12-month high of $21.37.

Green Dot (NYSE:GDOT) last posted its quarterly earnings results on Tuesday, February 27th. The financial services provider reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. The company had revenue of $361.72 million for the quarter, compared to analysts’ expectations of $350.14 million. Green Dot had a net margin of 0.45% and a return on equity of 6.78%. On average, equities analysts predict that Green Dot Co. will post 0.84 EPS for the current year.

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.