First Citizens Bank & Trust Co. Buys 6,963 Shares of Green Brick Partners, Inc. $GRBK

First Citizens Bank & Trust Co. boosted its stake in Green Brick Partners, Inc. (NASDAQ:GRBK - Free Report) by 202.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,405 shares of the financial services provider's stock after buying an additional 6,963 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in Green Brick Partners were worth $654,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. GAMMA Investing LLC lifted its holdings in shares of Green Brick Partners by 36.8% during the first quarter. GAMMA Investing LLC now owns 2,400 shares of the financial services provider's stock valued at $140,000 after acquiring an additional 646 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of Green Brick Partners during the first quarter worth approximately $371,000. TBH Global Asset Management LLC raised its stake in shares of Green Brick Partners by 5.9% in the first quarter. TBH Global Asset Management LLC now owns 8,941 shares of the financial services provider's stock valued at $521,000 after acquiring an additional 496 shares during the last quarter. Kendall Capital Management boosted its holdings in shares of Green Brick Partners by 1.5% in the 1st quarter. Kendall Capital Management now owns 17,323 shares of the financial services provider's stock worth $1,010,000 after acquiring an additional 255 shares in the last quarter. Finally, WCM Investment Management LLC grew its position in Green Brick Partners by 0.8% during the 1st quarter. WCM Investment Management LLC now owns 144,759 shares of the financial services provider's stock worth $8,357,000 after acquiring an additional 1,213 shares during the last quarter. 78.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Green Brick Partners Price Performance

Shares of GRBK stock opened at $68.06 on Friday. The firm's 50 day moving average price is $70.38 and its two-hundred day moving average price is $64.69. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.63 and a current ratio of 7.57. Green Brick Partners, Inc. has a 52-week low of $50.57 and a 52-week high of $77.93. The stock has a market cap of $2.96 billion, a PE ratio of 8.84 and a beta of 1.96.

Green Brick Partners (NASDAQ:GRBK - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $1.85 earnings per share for the quarter, missing analysts' consensus estimates of $1.94 by ($0.09). Green Brick Partners had a net margin of 17.70% and a return on equity of 25.35%. The company's quarterly revenue was down 2.1% compared to the same quarter last year. During the same period last year, the company posted $2.32 earnings per share. As a group, analysts forecast that Green Brick Partners, Inc. will post 8.34 EPS for the current year.

Insider Activity

In other news, COO Jed Dolson sold 20,000 shares of the company's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $66.76, for a total value of $1,335,200.00. Following the completion of the sale, the chief operating officer directly owned 273,605 shares of the company's stock, valued at $18,265,869.80. This represents a 6.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 29.70% of the company's stock.

Green Brick Partners Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.