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 holdings in Green Brick Partners, Inc. (NASDAQ:GRBK - Free Report) by 3.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 649,786 shares of the financial services provider's stock after selling 19,858 shares during the quarter. Green Brick Partners accounts for about 1.3% of Salem Investment Counselors Inc.'s portfolio, making the stock its 14th biggest holding. Salem Investment Counselors Inc. owned 1.48% of Green Brick Partners worth $40,859,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. SCS Capital Management LLC acquired a new stake in Green Brick Partners in the 1st quarter valued at about $351,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Green Brick Partners by 7.8% in 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 valued at $3,825,000 after acquiring an additional 4,763 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Green Brick Partners by 13.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 270,236 shares of the financial services provider's stock valued at $15,757,000 after acquiring an additional 31,547 shares during the last quarter. Punch & Associates Investment Management Inc. lifted its holdings in 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 acquiring an additional 7,254 shares during the last quarter. Finally, Granahan Investment Management LLC purchased a new stake in Green Brick Partners during the first quarter valued at about $6,695,000. 78.24% of the stock is owned by institutional investors and hedge funds.

Green Brick Partners Price Performance

NASDAQ GRBK opened at $73.66 on Friday. The company has a 50 day simple moving average of $67.74 and a 200-day simple moving average of $62.31. The company has a debt-to-equity ratio of 0.20, a current ratio of 7.57 and a quick ratio of 0.63. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of 9.57 and a beta of 1.89. Green Brick Partners, Inc. has a 52-week low of $50.57 and a 52-week high of $84.66.

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 (EPS) for the quarter, missing analysts' consensus estimates of $1.94 by ($0.09). Green Brick Partners had a return on equity of 25.35% and a net margin of 17.70%.The firm's quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.32 earnings per share. Equities research analysts predict that Green Brick Partners, Inc. will post 8.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, COO Jed Dolson sold 15,000 shares of the stock in a transaction that occurred on 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 directly owned 258,605 shares of the company's stock, valued at $17,781,679.80. This represents a 5.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 29.70% of the stock is owned by company insiders.

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.

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