Green Dot (NYSE:GDOT) Trading Down 4% – Should You Sell?

Shares of Green Dot Co. (NYSE:GDOT) traded down 4% on Wednesday . The stock traded as low as $10.23 and last traded at $10.23. 50,380 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 544,611 shares. The stock had previously closed at $10.66.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Barclays upped their target price on shares of Green Dot from $7.00 to $10.00 and gave the company an “underweight” rating in a research note on Monday, September 23rd. Craig Hallum upped their price target on shares of Green Dot from $10.00 to $11.00 and gave the company a “hold” rating in a report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $10.75.

Green Dot Stock Up 0.2 %

The stock’s 50-day moving average is $11.50 and its 200-day moving average is $10.47. The stock has a market cap of $551.35 million, a P/E ratio of -9.74 and a beta of 0.91. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.05.

Insiders Place Their Bets

In other Green Dot news, insider Topline Capital Management, Ll purchased 36,671 shares of the stock in a transaction on Monday, September 23rd. The shares were purchased at an average price of $12.49 per share, with a total value of $458,020.79. Following the acquisition, the insider now directly owns 5,995,422 shares of the company’s stock, valued at $74,882,820.78. This represents a 0.62 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Topline Capital Partners, Lp bought 135,123 shares of Green Dot stock in a transaction dated Friday, November 8th. The stock was purchased at an average price of $10.94 per share, for a total transaction of $1,478,245.62. Following the purchase, the insider now directly owns 6,292,788 shares in the company, valued at $68,843,100.72. This represents a 2.19 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 334,037 shares of company stock worth $3,862,091 over the last ninety days. 1.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp lifted its position in Green Dot by 5.6% during the 3rd quarter. State Street Corp now owns 2,520,389 shares of the financial services provider’s stock valued at $29,514,000 after purchasing an additional 133,200 shares during the period. Geode Capital Management LLC increased its stake in shares of Green Dot by 9.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,222,996 shares of the financial services provider’s stock valued at $14,324,000 after acquiring an additional 101,008 shares during the last quarter. Kent Lake Capital LLC bought a new stake in shares of Green Dot in the 1st quarter valued at about $7,464,000. Bank of New York Mellon Corp increased its stake in shares of Green Dot by 17.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 544,166 shares of the financial services provider’s stock valued at $5,142,000 after acquiring an additional 82,022 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC increased its stake in shares of Green Dot by 24.9% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 525,377 shares of the financial services provider’s stock valued at $4,965,000 after acquiring an additional 104,829 shares during the last quarter. Institutional investors and hedge funds own 92.56% of the company’s stock.

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.