Squarepoint Ops LLC Sells 18,913 Shares of Green Brick Partners, Inc. $GRBK

Key Points

• Squarepoint Ops LLC cut its Green Brick Partners stake by 45.5% in the second quarter, selling 18,913 shares and retaining 22,627 shares valued at approximately $1.81 million.
• Institutional ownership remains substantial at 78.24%, with BlackRock, Punch & Associates, and other major investors establishing or increasing positions during the period.
• Green Brick reported quarterly EPS of $1.70, beating estimates of $1.39, although revenue declined 10.1% year over year. Analysts maintain a “Hold” consensus, while the stock recently traded at $67.25.

Squarepoint Ops LLC reduced its stake in Green Brick Partners, Inc. (NASDAQ:GRBK - Free Report) by 45.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,627 shares of the financial services provider's stock after selling 18,913 shares during the period. Squarepoint Ops LLC owned approximately 0.05% of Green Brick Partners worth $1,811,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of GRBK. BlackRock Inc. acquired a new stake in Green Brick Partners in the 2nd quarter valued at $389,594,000. Northwestern Mutual Wealth Management Co. raised its stake in Green Brick Partners by 451,033.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 464,667 shares of the financial services provider's stock worth $29,116,000 after acquiring an additional 464,564 shares in the last quarter. Punch & Associates Investment Management Inc. acquired a new position in Green Brick Partners during the second quarter worth $30,446,000. The Manufacturers Life Insurance Company bought a new position in shares of Green Brick Partners during the second quarter valued at $27,857,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Green Brick Partners during the second quarter valued at $16,702,000. Institutional investors own 78.24% of the company's stock.

Analysts Set New Price Targets

Separately, Citizens Jmp restated a "market perform" rating on shares of Green Brick Partners in a research note on Tuesday, May 19th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of "Hold".

Green Brick Partners Stock Down 2.3%

NASDAQ GRBK opened at $67.25 on Wednesday. The stock's 50 day simple moving average is $71.45 and its 200 day simple moving average is $69.81. The company has a debt-to-equity ratio of 0.20, a current ratio of 7.57 and a quick ratio of 0.63. Green Brick Partners, Inc. has a one year low of $60.44 and a one year high of $83.18. The firm has a market cap of $2.89 billion, a PE ratio of 8.73 and a beta of 1.80.

Green Brick Partners (NASDAQ:GRBK - Get Free Report) last announced its earnings results on Wednesday, July 29th. The financial services provider reported $1.70 EPS for the quarter, topping the consensus estimate of $1.39 by $0.31. Green Brick Partners had a return on equity of 25.35% and a net margin of 17.70%.The firm's revenue for the quarter was down 10.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.85 EPS. As a group, sell-side analysts forecast that Green Brick Partners, Inc. will post 8.34 earnings per share for the current fiscal year.

Green Brick Partners Profile

Green Brick Partners, Inc is a residential homebuilder and land development company headquartered in Plano, Texas. The company acquires and develops residential land and builds single-family homes, townhomes and other residential properties for a range of buyers, including first-time, move-up and luxury customers.

Green Brick operates primarily in high-growth markets in North Texas, including the Dallas-Fort Worth metropolitan area, and in the Atlanta, Georgia, region. Its homebuilding operations are conducted through several brands, including Trophy Signature Homes, CB JENI Homes, Normandy Homes and Southgate Homes.

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