Raymond James Financial Inc. Has $8.63 Million Position in Green Brick Partners, Inc. $GRBK

Key Points

• Raymond James Financial Inc. decreased its holdings in Green Brick Partners, Inc. by 11.9%, selling 19,999 shares, and now owns 147,958 shares worth approximately $8.63 million.
• Several institutional investors increased their stakes in Green Brick Partners during the first quarter, with Byrne Asset Management boosting its position by 50.7%.
• Green Brick Partners reported a quarterly earnings miss of $1.85 per share, falling short of analysts' expectations, amid a 2.1% decline in revenue year-over-year.

Raymond James Financial Inc. cut its stake in Green Brick Partners, Inc. (NASDAQ:GRBK - Free Report) by 11.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 147,958 shares of the financial services provider's stock after selling 19,999 shares during the quarter. Raymond James Financial Inc. owned approximately 0.34% of Green Brick Partners worth $8,627,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Elgethun Capital Management raised its position in shares of Green Brick Partners by 3.4% in the first quarter. Elgethun Capital Management now owns 6,000 shares of the financial services provider's stock valued at $350,000 after purchasing an additional 200 shares during the period. American Century Companies Inc. grew its stake in shares of Green Brick Partners by 0.5% in the first quarter. American Century Companies Inc. now owns 39,166 shares of the financial services provider's stock valued at $2,284,000 after acquiring an additional 207 shares in the last quarter. Kendall Capital Management grew its stake in shares of Green Brick Partners by 1.5% in the first quarter. Kendall Capital Management now owns 17,323 shares of the financial services provider's stock valued at $1,010,000 after acquiring an additional 255 shares in the last quarter. CWM LLC grew its stake in shares of Green Brick Partners by 13.5% in the first quarter. CWM LLC now owns 2,958 shares of the financial services provider's stock valued at $172,000 after acquiring an additional 352 shares in the last quarter. Finally, Vestcor Inc grew its stake in shares of Green Brick Partners by 4.6% in the first quarter. Vestcor Inc now owns 8,062 shares of the financial services provider's stock valued at $470,000 after acquiring an additional 356 shares in the last quarter. 78.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Green Brick Partners Price Performance

Green Brick Partners stock traded up $2.70 during trading hours on Thursday, reaching $72.00. 205,436 shares of the stock were exchanged, compared to its average volume of 285,523. The company has a market cap of $3.14 billion, a P/E ratio of 9.35 and a beta of 1.88. The company has a current ratio of 7.57, a quick ratio of 0.63 and a debt-to-equity ratio of 0.20. Green Brick Partners, Inc. has a twelve month low of $50.57 and a twelve month high of $84.66. The stock has a 50 day moving average of $66.42 and a two-hundred day moving average of $61.57.

Green Brick Partners (NASDAQ:GRBK - Get Free Report) last announced its quarterly earnings data 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 last year, the company earned $2.32 EPS. Equities analysts expect that Green Brick Partners, Inc. will post 8.34 EPS for the current fiscal year.

Insider Transactions at Green Brick Partners

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 transaction of $1,031,400.00. Following the sale, the chief operating officer directly owned 258,605 shares in the company, valued at $17,781,679.80. This represents a 5.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 29.70% of the stock is owned by insiders.

Green Brick Partners Company 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.