Green Brick Partners, Inc. $GRBK Shares Sold by Salem Investment Counselors Inc.

Key Points

• Salem Investment Counselors Inc. reduced its holdings in Green Brick Partners by 3% in Q2, now owning 649,786 shares, which represents approximately 1.3% of its portfolio.
• Green Brick Partners reported $1.85 earnings per share in its latest quarterly earnings, which fell short of analyst expectations of $1.94.
• The firm's current market capitalization is $3.21 billion, with shares trading at around $73.66, reflecting a recent price performance near its 52-week high of $84.66.

Salem Investment Counselors Inc. trimmed its stake in shares of Green Brick Partners, Inc. (NASDAQ:GRBK - Free Report) by 3.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 649,786 shares of the financial services provider's stock after selling 19,858 shares during the period. Green Brick Partners accounts for 1.3% of Salem Investment Counselors Inc.'s portfolio, making the stock its 14th largest holding. Salem Investment Counselors Inc. owned approximately 1.48% of Green Brick Partners worth $40,859,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Green Brick Partners during the first quarter valued at $46,000. Byrne Asset Management LLC raised its stake in shares of Green Brick Partners by 50.7% during the 1st quarter. Byrne Asset Management LLC now owns 2,170 shares of the financial services provider's stock worth $127,000 after buying an additional 730 shares during the period. GAMMA Investing LLC raised its stake in Green Brick Partners by 36.8% in the 1st quarter. GAMMA Investing LLC now owns 2,400 shares of the financial services provider's stock valued at $140,000 after purchasing an additional 646 shares during the last quarter. Covestor Ltd grew its holdings in Green Brick Partners by 55.1% in the 1st quarter. Covestor Ltd now owns 2,457 shares of the financial services provider's stock valued at $143,000 after buying an additional 873 shares in the last quarter. Finally, CWM LLC grew its holdings in shares of Green Brick Partners by 13.5% during the 1st quarter. CWM LLC now owns 2,958 shares of the financial services provider's stock worth $172,000 after purchasing an additional 352 shares during the period. 78.24% of the stock is owned by hedge funds and other institutional investors.

Green Brick Partners Stock Down 1.8%

Shares of GRBK traded down $1.28 during mid-day trading on Friday, reaching $71.36. The company's stock had a trading volume of 113,522 shares, compared to its average volume of 282,523. 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 company has a market cap of $3.11 billion, a price-to-earnings ratio of 9.25 and a beta of 1.89. Green Brick Partners, Inc. has a 1 year low of $50.57 and a 1 year high of $84.66. The business has a fifty day moving average of $68.31 and a 200 day moving average of $62.64.

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 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%. The company's quarterly revenue was down 2.1% compared to the same quarter last year. During the same period last year, the firm posted $2.32 earnings per share. As a group, analysts forecast that Green Brick Partners, Inc. will post 8.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Green Brick Partners news, COO Jed Dolson sold 15,000 shares of the stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $68.76, for a total value of $1,031,400.00. Following the completion of the sale, the chief operating officer owned 258,605 shares in the company, valued at approximately $17,781,679.80. This trade represents a 5.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 29.70% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, B. Riley started coverage on Green Brick Partners in a research note on Monday, June 30th. They set 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 MarketBeat, Green Brick Partners has an average rating of "Hold" and a consensus target price of $66.00.

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.