Granahan Investment Management LLC Purchases New Stake 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 acquired a new stake in Green Brick Partners, Inc. (NASDAQ:GRBK - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 114,813 shares of the financial services provider's stock, valued at approximately $6,695,000. Granahan Investment Management LLC owned about 0.26% of Green Brick Partners at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in Green Brick Partners by 3.3% in the 1st quarter. Principal Financial Group Inc. now owns 170,135 shares of the financial services provider's stock valued at $9,921,000 after acquiring an additional 5,375 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in Green Brick Partners in the first quarter valued at approximately $371,000. GAMMA Investing LLC raised its holdings in Green Brick Partners by 7,878.6% in the first quarter. GAMMA Investing LLC now owns 139,944 shares of the financial services provider's stock valued at $8,160,000 after buying an additional 138,190 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in 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 buying an additional 41,083 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in shares of Green Brick Partners by 4.5% during the fourth quarter. Ameriprise Financial Inc. now owns 110,320 shares of the financial services provider's stock valued at $6,232,000 after purchasing an additional 4,746 shares during the period. 78.24% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO Jed Dolson sold 15,000 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $68.76, for a total transaction of $1,031,400.00. Following the completion of the transaction, the chief operating officer directly owned 258,605 shares in the company, valued at $17,781,679.80. The trade was a 5.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 29.70% of the company's stock.

Analyst Ratings Changes

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

Green Brick Partners Trading Down 2.4%

GRBK traded down $1.74 during trading on Wednesday, reaching $72.03. The company had a trading volume of 81,988 shares, compared to its average volume of 285,071. 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 12-month low of $50.57 and a 12-month high of $84.66. The firm's 50-day simple moving average is $67.21 and its 200 day simple moving average is $61.98. The company has a market cap of $3.14 billion, a price-to-earnings ratio of 9.36 and a beta of 1.89.

Green Brick Partners (NASDAQ:GRBK - Get Free Report) last released its earnings results on Wednesday, July 30th. The financial services provider reported $1.85 earnings per share 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%. The business's revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.32 EPS. Equities research analysts anticipate that Green Brick Partners, Inc. will post 8.34 earnings per share for the current year.

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.