Granahan Investment Management LLC Invests $6.70 Million in Green Brick Partners, Inc. $GRBK

Key Points

• Granahan Investment Management LLC has acquired a new stake in Green Brick Partners, Inc., purchasing 114,813 shares valued at approximately $6.7 million, equating to about 0.26% of the company.
• Several institutional investors, including Principal Financial Group and GAMMA Investing LLC, have increased their holdings in Green Brick Partners, with hedge funds collectively owning 78.24% of the company's stock.
• Green Brick Partners reported $1.85 EPS for the quarter, missing estimates, with a projected 8.34 EPS for the current fiscal year, indicating potential challenges ahead for the company.

Granahan Investment Management LLC bought a new position in shares of Green Brick Partners, Inc. (NASDAQ:GRBK - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 114,813 shares of the financial services provider's stock, valued at approximately $6,695,000. Granahan Investment Management LLC owned 0.26% of Green Brick Partners at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its holdings in Green Brick Partners by 3.3% during the 1st quarter. Principal Financial Group Inc. now owns 170,135 shares of the financial services provider's stock worth $9,921,000 after buying an additional 5,375 shares during the period. Janney Montgomery Scott LLC bought a new position in shares of Green Brick Partners in the 1st quarter worth about $371,000. GAMMA Investing LLC raised its position in shares of Green Brick Partners by 7,878.6% in the 1st quarter. GAMMA Investing LLC now owns 139,944 shares of the financial services provider's stock worth $8,160,000 after acquiring an additional 138,190 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Green Brick Partners by 10.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 438,707 shares of the financial services provider's stock worth $25,581,000 after acquiring an additional 41,083 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Green Brick Partners by 4.5% in the 4th quarter. Ameriprise Financial Inc. now owns 110,320 shares of the financial services provider's stock worth $6,232,000 after acquiring an additional 4,746 shares in the last quarter. 78.24% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Green Brick Partners

In other news, COO Jed Dolson sold 20,000 shares of the business's stock in a transaction that occurred on 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 transaction, the chief operating officer owned 273,605 shares in the company, valued at $18,265,869.80. The trade was a 6.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 29.70% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, B. Riley initiated 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 analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Green Brick Partners currently has a consensus rating of "Hold" and a consensus target price of $66.00.

Green Brick Partners Stock Down 1.3%

GRBK stock traded down $0.99 during mid-day trading on Tuesday, reaching $73.83. 413,392 shares of the company traded hands, compared to its average volume of 286,275. The stock has a market cap of $3.22 billion, a price-to-earnings ratio of 9.59 and a beta of 1.89. The company has a quick ratio of 0.63, a current ratio of 7.57 and a debt-to-equity ratio of 0.20. Green Brick Partners, Inc. has a fifty-two week low of $50.57 and a fifty-two week high of $84.66. The firm's 50 day moving average price is $67.04 and its 200 day moving average price is $61.90.

Green Brick Partners (NASDAQ:GRBK - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $1.85 earnings per share (EPS) 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%. During the same period last year, the company posted $2.32 EPS. The business's revenue was down 2.1% on a year-over-year basis. As a group, equities research analysts predict that Green Brick Partners, Inc. will post 8.34 EPS for the current fiscal 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.