OppenheimerFunds Inc. Grows Stake in Green Dot Co. (GDOT)
OppenheimerFunds Inc. lifted its position in shares of Green Dot Co. (NYSE:GDOT) by 2,582.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 322,455 shares of the financial services provider’s stock after purchasing an additional 310,435 shares during the period. OppenheimerFunds Inc.’s holdings in Green Dot were worth $19,432,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. LS Investment Advisors LLC grew its holdings in shares of Green Dot by 70.4% during the fourth quarter. LS Investment Advisors LLC now owns 2,618 shares of the financial services provider’s stock worth $158,000 after purchasing an additional 1,082 shares during the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of Green Dot by 13.3% during the second quarter. Ameritas Investment Partners Inc. now owns 4,013 shares of the financial services provider’s stock worth $155,000 after purchasing an additional 472 shares during the last quarter. Shelton Capital Management bought a new stake in shares of Green Dot during the third quarter worth about $210,000. Brown Advisory Inc. bought a new stake in shares of Green Dot during the third quarter worth about $229,000. Finally, Quantbot Technologies LP grew its holdings in shares of Green Dot by 212.7% during the third quarter. Quantbot Technologies LP now owns 4,866 shares of the financial services provider’s stock worth $241,000 after purchasing an additional 3,310 shares during the last quarter. Institutional investors own 82.25% of the company’s stock.
In other Green Dot news, CEO Steven W. Streit sold 6,830 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $59.58, for a total value of $406,931.40. Following the transaction, the chief executive officer now directly owns 176,621 shares of the company’s stock, valued at $10,523,079.18. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Steven W. Streit sold 20,490 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $59.96, for a total value of $1,228,580.40. Following the completion of the transaction, the insider now directly owns 176,621 shares in the company, valued at $10,590,195.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 328,015 shares of company stock worth $20,018,961. Insiders own 11.00% of the company’s stock.
Green Dot (NYSE:GDOT) last issued its quarterly earnings results on Wednesday, February 21st. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.04. Green Dot had a return on equity of 12.32% and a net margin of 9.65%. The firm had revenue of $212.99 million for the quarter, compared to analyst estimates of $206.07 million. During the same period in the previous year, the firm earned $0.19 earnings per share. The company’s revenue was up 30.9% compared to the same quarter last year. analysts predict that Green Dot Co. will post 2.44 EPS for the current year.
GDOT has been the topic of several research reports. Craig Hallum restated a “buy” rating and set a $75.00 price target (up from $70.00) on shares of Green Dot in a report on Thursday, February 22nd. Citigroup raised Green Dot from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $66.00 to $68.00 in a research note on Tuesday, February 13th. Guggenheim reaffirmed a “buy” rating on shares of Green Dot in a research note on Wednesday, January 10th. Zacks Investment Research raised Green Dot from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research note on Monday, November 13th. Finally, BTIG Research raised Green Dot from a “neutral” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Wednesday, November 8th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $63.29.
COPYRIGHT VIOLATION WARNING: “OppenheimerFunds Inc. Grows Stake in Green Dot Co. (GDOT)” was reported by Watch List News and is the property of of Watch List News. If you are accessing this article on another publication, it was copied illegally and republished in violation of US and international copyright and trademark legislation. The legal version of this article can be viewed at https://www.watchlistnews.com/oppenheimerfunds-inc-grows-stake-in-green-dot-co-gdot/1909049.html.
Green Dot Profile
Green Dot Corporation (Green Dot) is a pro-consumer financial technology innovator. The Company is a provider of reloadable prepaid debit cards and cash reload processing services in the United States. The Company operates through two segments: Account Services, and Processing and Settlement Services.
Want to see what other hedge funds are holding GDOT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Green Dot Co. (NYSE:GDOT).
Receive News & Ratings for Green Dot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Green Dot and related companies with MarketBeat.com's FREE daily email newsletter.