Stock Traders Buy High Volume of Green Dot Put Options (GDOT)

Green Dot Co. (NYSE:GDOT) was the target of unusually large options trading activity on Monday. Traders purchased 2,333 put options on the stock. This represents an increase of 3,382% compared to the typical daily volume of 67 put options.

In other news, insider Steven W. Streit sold 29,580 shares of the firm’s stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $80.24, for a total transaction of $2,373,499.20. Following the sale, the insider now owns 55,001 shares in the company, valued at approximately $4,413,280.24. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jess Unruh sold 2,147 shares of the firm’s stock in a transaction on Friday, February 1st. The shares were sold at an average price of $75.29, for a total transaction of $161,647.63. Following the sale, the insider now owns 62,930 shares in the company, valued at approximately $4,737,999.70. The disclosure for this sale can be found here. Insiders sold a total of 106,749 shares of company stock worth $8,562,667 over the last quarter. Corporate insiders own 9.70% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in GDOT. Victory Capital Management Inc. bought a new position in shares of Green Dot during the 3rd quarter valued at $56,810,000. BlackRock Inc. grew its holdings in shares of Green Dot by 7.1% during the 3rd quarter. BlackRock Inc. now owns 7,745,801 shares of the financial services provider’s stock valued at $687,983,000 after purchasing an additional 514,669 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of Green Dot during the 4th quarter valued at $24,043,000. Bank of New York Mellon Corp grew its holdings in shares of Green Dot by 33.4% during the 4th quarter. Bank of New York Mellon Corp now owns 1,186,853 shares of the financial services provider’s stock valued at $94,379,000 after purchasing an additional 297,348 shares during the last quarter. Finally, Emerald Advisers LLC bought a new stake in Green Dot in the 4th quarter worth $23,554,000. 91.10% of the stock is currently owned by institutional investors.

Several analysts have recently weighed in on the stock. Craig Hallum set a $115.00 price objective on shares of Green Dot and gave the company a “buy” rating in a research report on Thursday, November 8th. Deutsche Bank set a $79.00 price objective on shares of Green Dot and gave the company a “hold” rating in a research report on Thursday, November 8th. Citigroup set a $105.00 price objective on shares of Green Dot and gave the company a “buy” rating in a research report on Friday, November 9th. Barclays assumed coverage on shares of Green Dot in a research report on Wednesday, November 14th. They set an “overweight” rating and a $103.00 price objective on the stock. Finally, Zacks Investment Research upgraded shares of Green Dot from a “hold” rating to a “strong-buy” rating and set a $91.00 price objective on the stock in a research report on Wednesday, November 14th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $90.69.

GDOT stock opened at $74.79 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.04 and a current ratio of 1.04. Green Dot has a 52 week low of $56.73 and a 52 week high of $93.00. The firm has a market cap of $3.88 billion, a P/E ratio of 47.34 and a beta of 0.73.

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About Green Dot

Green Dot Corporation, together with its subsidiaries, operates as a pro-consumer bank holding company that provides personal banking for the masses. It operates through two segments, Account Services and Processing, and Settlement Services. The company offers deposit as account programs, such reloadable prepaid debit cards under the consumer brand names of GPR cards, consumer checking accounts, small business checking accounts, network-branded gift cards, secured credit cards, and other financial services.

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