Cubist Systematic Strategies LLC Sells 314,101 Shares of Green Dot Co. (NYSE:GDOT)

Cubist Systematic Strategies LLC lessened its holdings in Green Dot Co. (NYSE:GDOT) by 64.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 171,230 shares of the financial services provider’s stock after selling 314,101 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.32% of Green Dot worth $1,618,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Torno Capital LLC bought a new position in Green Dot during the 2nd quarter worth approximately $38,000. Marshall Wace LLP bought a new position in Green Dot during the 2nd quarter worth approximately $304,000. Magnetar Financial LLC bought a new position in Green Dot during the 2nd quarter worth approximately $152,000. Public Sector Pension Investment Board raised its holdings in Green Dot by 7.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 100,703 shares of the financial services provider’s stock worth $952,000 after purchasing an additional 7,091 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in Green Dot during the 2nd quarter worth approximately $142,000. Institutional investors own 92.56% of the company’s stock.

Green Dot Stock Down 5.9 %

Shares of GDOT stock opened at $11.02 on Wednesday. The firm has a 50 day moving average of $10.74 and a 200-day moving average of $9.82. Green Dot Co. has a 52 week low of $7.30 and a 52 week high of $14.05. The company has a market cap of $586.37 million, a price-to-earnings ratio of -23.45 and a beta of 0.91.

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

Wall Street Analyst Weigh In

Several research firms have issued reports on GDOT. Keefe, Bruyette & Woods restated a “market perform” rating and set a $11.00 price target on shares of Green Dot in a report on Monday, July 22nd. Barclays raised their price target on shares of Green Dot from $7.00 to $10.00 and gave the stock an “underweight” rating in a report on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $11.50.

Insider Activity at Green Dot

In other Green Dot news, major shareholder Topline Capital Partners, Lp purchased 162,243 shares of Green Dot stock in a transaction that occurred on Tuesday, September 24th. The stock was acquired at an average price of $11.87 per share, with a total value of $1,925,824.41. Following the transaction, the insider now owns 6,157,665 shares in the company, valued at approximately $73,091,483.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Topline Capital Management, Ll acquired 36,671 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were purchased at an average cost 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. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Topline Capital Partners, Lp acquired 162,243 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were purchased at an average cost of $11.87 per share, for a total transaction of $1,925,824.41. Following the completion of the acquisition, the insider now directly owns 6,157,665 shares in the company, valued at $73,091,483.55. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by insiders.

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.