Green Brick Partners, Inc. $GRBK Shares Sold by Harbor Capital Advisors Inc.

Key Points

• Harbor Capital Advisors Inc. reduced its stake in Green Brick Partners by 3.2%, owning 216,945 shares after selling 7,264 shares this quarter, making it the company's 28th largest holding.
• Green Brick Partners reported a net margin of 17.70% and a return on equity of 25.35%, but its earnings of $1.85 per share fell short of analyst expectations by $0.09.
• Several institutional investors, including Goldman Sachs Group Inc. and UBS Asset Management, increased their stakes in Green Brick Partners, indicating growing interest as 78.24% of the stock is now held by institutional investors.

Harbor Capital Advisors Inc. lessened its holdings in Green Brick Partners, Inc. (NASDAQ:GRBK - Free Report) by 3.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 216,945 shares of the financial services provider's stock after selling 7,264 shares during the quarter. Green Brick Partners accounts for approximately 0.6% of Harbor Capital Advisors Inc.'s holdings, making the stock its 28th largest holding. Harbor Capital Advisors Inc. owned 0.49% of Green Brick Partners worth $13,642,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Chemistry Wealth Management LLC acquired a new position in shares of Green Brick Partners in the 2nd quarter valued at $224,000. SCS Capital Management LLC purchased a new position in Green Brick Partners during the 1st quarter worth approximately $351,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Green Brick Partners by 7.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 65,597 shares of the financial services provider's stock worth $3,825,000 after acquiring an additional 4,763 shares during the period. Goldman Sachs Group Inc. lifted its position in Green Brick Partners by 13.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 270,236 shares of the financial services provider's stock worth $15,757,000 after acquiring an additional 31,547 shares during the period. Finally, Punch & Associates Investment Management Inc. lifted its holdings in shares of Green Brick Partners by 1.9% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 389,910 shares of the financial services provider's stock valued at $22,736,000 after buying an additional 7,254 shares during the period. 78.24% of the stock is currently owned by hedge funds and other institutional investors.

Green Brick Partners Trading Down 2.0%

Shares of NASDAQ:GRBK traded down $1.48 on Friday, hitting $71.17. The company had a trading volume of 558,482 shares, compared to its average volume of 285,083. The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of 9.24 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 1 year low of $50.57 and a 1 year high of $84.66. The firm's 50-day simple moving average is $68.40 and its two-hundred day simple moving average is $62.72.

Green Brick Partners (NASDAQ:GRBK - Get Free Report) last announced its quarterly 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 return on equity of 25.35% and a net margin of 17.70%.Green Brick Partners's revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.32 earnings per share. Equities analysts anticipate that Green Brick Partners, Inc. will post 8.34 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Jed Dolson sold 20,000 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $66.76, for a total transaction 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 approximately $18,265,869.80. This trade represents a 6.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 29.70% of the stock is owned by company insiders.

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 investment analysts have rated the stock with a Hold rating, According to MarketBeat, Green Brick Partners has a consensus rating of "Hold" and an average price target of $66.00.

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.