Assenagon Asset Management SA increased its holdings in shares of Green Brick Partners, Inc. (NASDAQ:GRBK – Free Report) by 22.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,697 shares of the financial services provider after acquiring an additional 14,376 shares during the same period. According to the most recent SEC filing, Assenagon Asset Management SA owned 0.18% of Green Brick Partners valued at $4,562,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Green Brick Partners by 12.8% in the 1st quarter. Vanguard Group Inc. now owns 2,711,140 shares of the financial services provider’s stock worth $163,292,000 after buying an additional 307,304 shares in the last quarter. Salem Investment Counselors Inc. increased its holdings in shares of Green Brick Partners by 0.8% in the 2nd quarter. Salem Investment Counselors Inc. now owns 743,183 shares of the financial services provider’s stock worth $42,540,000 after buying an additional 6,045 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Green Brick Partners by 6.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 511,482 shares of the financial services provider’s stock valued at $30,808,000 after purchasing an additional 32,373 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Green Brick Partners by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 214,490 shares of the financial services provider’s stock valued at $11,141,000 after purchasing an additional 9,556 shares in the last quarter. Finally, Annex Advisory Services LLC bought a new stake in shares of Green Brick Partners in the 2nd quarter valued at about $10,687,000. 78.24% of the shares are owned by hedge funds and other institutional investors.
Insiders place their bets
In other Green Brick Partners news, Director David Einhorn sold 1,000,000 shares of Green Brick Partners stock in a transaction that occurred on Thursday, July 11. The shares were sold at an average price of $57.80, for a total value of $57,800,000.00. Following the transaction, the director now directly owns 1,302,690 shares of the company’s stock, valued at approximately $75,295,482. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 44.40% of the company’s stock.
Upgrades and downgrades by analysts
Several brokerages have recently commented on GRBK. B. Riley increased their price target on Green Brick Partners from $62.00 to $78.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Wedbush reiterated a “neutral” rating and issued a $60.00 price target (previously $53.00) on shares of Green Brick Partners in a research note on Monday, August 5th.
Get our latest stock report on GRBK
Green Brick Partners shares fell 0.3%
GRBK shares opened at $70.80 on Monday. The company has a debt-to-equity ratio of 0.22, a short-to-earnings ratio of 1.16 and a short-to-earnings ratio of 8.28. The stock’s 50-day moving average is $63.77 and its 200-day moving average is $58.36. The company has a market cap of $3.18 billion, a price-to-earnings ratio of 10.74 and a beta of 1.80. Green Brick Partners, Inc. has a twelve-month low of $37.31 and a twelve-month high of $78.39.
Green Brick Partners (NASDAQ:GRBK – Get Free Report) last released its quarterly earnings results on Wednesday, July 31. The financial services provider reported earnings per share of $2.32 for the quarter, beating the consensus estimate of $1.77 by $0.55. The company had revenue of $560.63 million for the quarter, compared to the consensus estimate of $501.51 million. Green Brick Partners generated return on equity of 25.42% and net margin of 17.78%. The company’s revenue grew 22.9% year-over-year for the quarter. During the same period last year, the company posted earnings per share of $1.63. As a group, research analysts forecast that Green Brick Partners, Inc. will post earnings per share of $7.46 for the current year.
Profile of Green Brick Partners
(Free report)
Green Brick Partners, Inc (NYSE: GRBK), the third largest homebuilder in Dallas-Fort Worth, is a diversified homebuilding and land development company with operations in Texas, Georgia and Florida. Green Brick owns five subsidiaries in Texas (CB JENI Homes, Normandy Homes, Southgate Homes, Trophy Signature Homes and a 90% interest in Centre Living Homes), as well as a majority interest in a homebuilder in Atlanta, Georgia (The Providence Group) and an 80% interest in a homebuilder in Port St.
See also
Get daily news and reviews for Green Brick Partners – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Green Brick Partners and related companies with MarketBeat.com’s FREE daily email newsletter.
