LMG Wealth Partners LLC Has $364,000 Stock Position in Green Dot Co. (NYSE:GDOT)

LMG Wealth Partners LLC cut its holdings in Green Dot Co. (NYSE:GDOT) by 74.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,500 shares of the financial services provider’s stock after selling 114,754 shares during the period. LMG Wealth Partners LLC owned approximately 0.07% of Green Dot worth $364,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Kent Lake Capital LLC bought a new stake in Green Dot during the first quarter valued at about $7,464,000. SG Capital Management LLC bought a new stake in Green Dot in the 1st quarter valued at $4,254,000. Assenagon Asset Management S.A. raised its position in shares of Green Dot by 11.7% during the first quarter. Assenagon Asset Management S.A. now owns 923,176 shares of the financial services provider’s stock valued at $8,613,000 after buying an additional 97,040 shares during the last quarter. BNP Paribas Financial Markets grew its position in Green Dot by 428.0% during the fourth quarter. BNP Paribas Financial Markets now owns 111,524 shares of the financial services provider’s stock worth $1,104,000 after buying an additional 90,402 shares in the last quarter. Finally, Hsbc Holdings PLC increased its stake in Green Dot by 33.3% during the fourth quarter. Hsbc Holdings PLC now owns 340,073 shares of the financial services provider’s stock valued at $3,408,000 after acquiring an additional 84,894 shares during the period. 92.56% of the stock is owned by institutional investors and hedge funds.

Green Dot Trading Down 1.4 %

NYSE GDOT traded down $0.16 during trading hours on Tuesday, reaching $11.01. 34,610 shares of the company’s stock were exchanged, compared to its average volume of 574,784. The firm has a fifty day moving average of $9.91 and a 200-day moving average of $9.37. Green Dot Co. has a one year low of $7.30 and a one year high of $14.99. The stock has a market cap of $585.84 million, a PE ratio of -23.77 and a beta of 0.96.

Green Dot (NYSE:GDOT) last announced its earnings results on Thursday, August 8th. The financial services provider reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. Green Dot had a positive return on equity of 4.01% and a negative net margin of 3.41%. The company had revenue of $407.10 million during the quarter, compared to analyst estimates of $381.87 million. During the same period last year, the company posted $0.20 earnings per share. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. As a group, research analysts forecast that Green Dot Co. will post 1 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on the company. StockNews.com upgraded Green Dot from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $11.00 price objective on shares of Green Dot in a report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $10.75.

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.