Assenagon Asset Management S.A. Sells 46,511 Shares of Green Brick Partners, Inc. $GRBK

Key Points

• Assenagon Asset Management S.A. significantly reduced its stake in Green Brick Partners by 72.4%, selling 46,511 shares and leaving them with 17,712 shares valued at approximately $1.11 million.
• Several other hedge funds increased their positions in Green Brick Partners, with Annex Advisory Services raising its stake by 72.8% in the first quarter, while institutional investors collectively hold 78.24% of the company's stock.
• Green Brick Partners reported a 12-month low of $50.57 and a 12-month high of $84.66, with a net margin of 17.70% and a return on equity of 25.35% despite a year-over-year revenue decline of 2.1%.

Assenagon Asset Management S.A. decreased its stake in Green Brick Partners, Inc. (NASDAQ:GRBK - Free Report) by 72.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,712 shares of the financial services provider's stock after selling 46,511 shares during the period. Assenagon Asset Management S.A.'s holdings in Green Brick Partners were worth $1,114,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Annex Advisory Services LLC raised its position in Green Brick Partners by 72.8% in the first quarter. Annex Advisory Services LLC now owns 469,955 shares of the financial services provider's stock worth $27,403,000 after acquiring an additional 198,024 shares during the period. The Manufacturers Life Insurance Company raised its position in Green Brick Partners by 56.7% in the first quarter. The Manufacturers Life Insurance Company now owns 453,977 shares of the financial services provider's stock worth $26,471,000 after acquiring an additional 164,273 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Green Brick Partners by 10.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 438,707 shares of the financial services provider's stock valued at $25,581,000 after purchasing an additional 41,083 shares during the period. Punch & Associates Investment Management Inc. raised its position in shares of Green Brick Partners by 1.9% in the first quarter. Punch & Associates Investment Management Inc. now owns 389,910 shares of the financial services provider's stock valued at $22,736,000 after purchasing an additional 7,254 shares during the period. Finally, GW&K Investment Management LLC raised its position in shares of Green Brick Partners by 2.4% in the first quarter. GW&K Investment Management LLC now owns 334,275 shares of the financial services provider's stock valued at $19,492,000 after purchasing an additional 7,967 shares during the period. Institutional investors own 78.24% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, B. Riley assumed coverage on shares of Green Brick Partners in a research report on Monday, June 30th. They issued a "neutral" rating and a $62.00 price target on the stock. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $66.00.

Insider Buying and Selling

In related news, COO Jed Dolson sold 20,000 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $66.76, for a total transaction of $1,335,200.00. Following the completion of the transaction, the chief operating officer owned 273,605 shares of the company's stock, valued at approximately $18,265,869.80. The trade was a 6.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 29.70% of the company's stock.

Green Brick Partners Stock Performance

NASDAQ GRBK opened at $72.24 on Friday. The company's 50 day moving average is $68.99 and its 200-day moving average is $63.04. Green Brick Partners, Inc. has a 12-month low of $50.57 and a 12-month high of $84.66. The company has a quick ratio of 0.63, a current ratio of 7.57 and a debt-to-equity ratio of 0.20. The firm has a market cap of $3.15 billion, a P/E ratio of 9.38 and a beta of 1.89.

Green Brick Partners (NASDAQ:GRBK - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $1.85 EPS for the quarter, missing the consensus estimate of $1.94 by ($0.09). Green Brick Partners had a net margin of 17.70% and a return on equity of 25.35%. Green Brick Partners's revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.32 EPS. Sell-side analysts predict that Green Brick Partners, Inc. will post 8.34 earnings per share for the current year.

About Green Brick Partners

Green Brick Partners, Inc is a diversified homebuilding and land development company in the United States. The company operates through three segments: Builder operations Central, Builder operations Southeast, and Land Development. The Builder operations Central segment operates builders in Texas; and the closing and delivery of homes.

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