Nierenberg Investment Management Company Inc. Grows Stock Holdings in Green Dot Corporation $GDOT

Nierenberg Investment Management Company Inc. raised its position in shares of Green Dot Corporation (NYSE:GDOT) by 337.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 339,110 shares of the financial services provider’s stock after acquiring an additional 261,555 shares during the period. Green Dot makes up approximately 1.9% of Nierenberg Investment Management Company Inc.’s investment portfolio, making the stock its 6th largest position. Nierenberg Investment Management Company Inc. owned about 0.62% of Green Dot worth $3,656,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in GDOT. DLD Asset Management LP acquired a new stake in shares of Green Dot during the first quarter worth $549,000. Strs Ohio acquired a new position in shares of Green Dot in the first quarter valued at about $603,000. Cubist Systematic Strategies LLC bought a new position in Green Dot during the first quarter worth about $507,000. XTX Topco Ltd increased its position in Green Dot by 436.8% during the first quarter. XTX Topco Ltd now owns 230,175 shares of the financial services provider’s stock worth $1,943,000 after acquiring an additional 187,293 shares during the period. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in Green Dot in the 2nd quarter worth about $117,000. Institutional investors own 92.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GDOT. Weiss Ratings reissued a “sell (d-)” rating on shares of Green Dot in a research report on Wednesday, October 8th. Northland Securities set a $18.00 price objective on Green Dot in a report on Wednesday, October 15th. Wall Street Zen downgraded shares of Green Dot from a “buy” rating to a “hold” rating in a research report on Saturday. William Blair reiterated a “market perform” rating on shares of Green Dot in a research report on Tuesday, November 11th. Finally, Zacks Research lowered shares of Green Dot from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 16th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Green Dot has a consensus rating of “Hold” and an average price target of $13.50.

Green Dot Stock Down 0.4%

Shares of NYSE:GDOT opened at $10.55 on Wednesday. Green Dot Corporation has a 12-month low of $6.12 and a 12-month high of $15.41. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.07. The stock has a market cap of $584.59 million, a price-to-earnings ratio of -12.42 and a beta of 0.80. The business’s 50 day moving average is $12.79 and its 200 day moving average is $11.55.

Green Dot (NYSE:GDOT) last announced its earnings results on Monday, November 10th. The financial services provider reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.11) by $0.17. The company had revenue of $491.85 million during the quarter, compared to the consensus estimate of $483.84 million. Green Dot had a negative net margin of 2.33% and a positive return on equity of 9.81%. The firm’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.13 earnings per share. Green Dot has set its FY 2025 guidance at 1.310-1.440 EPS. On average, sell-side analysts forecast that Green Dot Corporation will post 0.87 earnings per share for the current fiscal year.

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.