Connor Clark & Lunn Investment Management Ltd. Has $1.64 Million Stake in Green Dot Co. (NYSE:GDOT)

Connor Clark & Lunn Investment Management Ltd. cut its position in shares of Green Dot Co. (NYSE:GDOT) by 34.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 140,220 shares of the financial services provider’s stock after selling 74,746 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Green Dot were worth $1,642,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. SG Capital Management LLC acquired a new stake in shares of Green Dot during the 1st quarter worth approximately $4,254,000. American Century Companies Inc. increased its stake in Green Dot by 79.0% in the second quarter. American Century Companies Inc. now owns 322,692 shares of the financial services provider’s stock valued at $3,049,000 after purchasing an additional 142,377 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Green Dot during the second quarter valued at about $685,000. State Board of Administration of Florida Retirement System boosted its position in shares of Green Dot by 40.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 18,689 shares of the financial services provider’s stock worth $174,000 after purchasing an additional 5,390 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC grew 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 buying an additional 104,829 shares during the period. Institutional investors own 92.56% of the company’s stock.

Wall Street Analyst Weigh In

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

Green Dot Stock Up 2.0 %

Shares of NYSE:GDOT opened at $10.43 on Tuesday. The business’s 50 day moving average is $11.46 and its 200 day moving average is $10.50. Green Dot Co. has a 12-month low of $7.70 and a 12-month high of $13.58. The stock has a market cap of $561.03 million, a price-to-earnings ratio of -9.93 and a beta of 0.91. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.05.

Insider Buying and Selling at Green Dot

In other Green Dot news, major shareholder Topline Capital Partners, Lp purchased 135,123 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were acquired at an average cost of $10.94 per share, for a total transaction of $1,478,245.62. Following the completion of the acquisition, the insider now owns 6,292,788 shares of the company’s stock, valued at $68,843,100.72. The trade was a 2.19 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Topline Capital Management, Ll acquired 36,671 shares of Green Dot stock in a transaction on Monday, September 23rd. The stock was acquired at an average price of $12.49 per share, with a total value of $458,020.79. Following the purchase, the insider now directly owns 5,995,422 shares in the company, valued at approximately $74,882,820.78. This trade represents a 0.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 334,037 shares of company stock worth $3,862,091. Corporate insiders own 1.10% 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.