Public Sector Pension Investment Board Raises Stock Holdings in Green Brick Partners, Inc. $GRBK

Key Points

• The Public Sector Pension Investment Board increased its stake in Green Brick Partners, Inc. by 27.3% during the first quarter, owning approximately $5.68 million worth of shares.
• Insider trading activities included COO Jed Dolson selling 15,000 shares for approximately $1.03 million, reducing his position by 5.48%.
• Despite reporting EPS of $1.85, which was below the consensus estimate of $1.94, analysts forecast an annual EPS of $8.34 for Green Brick Partners.

Public Sector Pension Investment Board boosted its holdings in Green Brick Partners, Inc. (NASDAQ:GRBK - Free Report) by 27.3% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 97,417 shares of the financial services provider's stock after acquiring an additional 20,875 shares during the quarter. Public Sector Pension Investment Board owned 0.22% of Green Brick Partners worth $5,680,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its position in shares of Green Brick Partners by 1,342.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 289,704 shares of the financial services provider's stock valued at $16,365,000 after purchasing an additional 269,615 shares during the last quarter. Annex Advisory Services LLC increased its position in shares of Green Brick Partners by 72.8% during the 1st quarter. Annex Advisory Services LLC now owns 469,955 shares of the financial services provider's stock valued at $27,403,000 after purchasing an additional 198,024 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Green Brick Partners by 7,878.6% during the 1st quarter. GAMMA Investing LLC now owns 139,944 shares of the financial services provider's stock valued at $8,160,000 after purchasing an additional 138,190 shares during the last quarter. Twinbeech Capital LP bought a new position in shares of Green Brick Partners during the 4th quarter valued at about $6,473,000. Finally, Voloridge Investment Management LLC increased its position in shares of Green Brick Partners by 65.3% during the 4th quarter. Voloridge Investment Management LLC now owns 193,597 shares of the financial services provider's stock valued at $10,936,000 after purchasing an additional 76,482 shares during the last quarter. 78.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, COO Jed Dolson sold 15,000 shares of the company's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $68.76, for a total value of $1,031,400.00. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 29.70% of the stock is currently owned by insiders.

Green Brick Partners Trading Up 6.1%

Shares of NASDAQ:GRBK traded up $4.0710 during trading on Friday, reaching $71.1210. 69,814 shares of the company traded hands, compared to its average volume of 289,804. Green Brick Partners, Inc. has a 52-week low of $50.57 and a 52-week high of $84.66. The company has a current ratio of 7.57, a quick ratio of 0.63 and a debt-to-equity ratio of 0.20. The business's fifty day moving average is $64.83 and its 200-day moving average is $60.93. The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of 9.23 and a beta of 1.83.

Green Brick Partners (NASDAQ:GRBK - Get Free Report) last released its quarterly earnings data 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%.During the same period in the previous year, the firm posted $2.32 earnings per share. The company's revenue for the quarter was down 2.1% on a year-over-year basis. As a group, analysts forecast that Green Brick Partners, Inc. will post 8.34 EPS for the current 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.