Green Brick Partners, Inc. $GRBK Shares Purchased by Wealthedge Investment Advisors LLC

Key Points

• Wealthedge Investment Advisors LLC increased its stake in Green Brick Partners by 157.8% in Q1, owning 9,141 shares valued at approximately $533,000 after acquiring an additional 5,595 shares.
• Various institutional investors have also boosted their stakes, with GAMMA Investing LLC increasing its position by a staggering 7,878.6% during the same quarter.
• The company's recent earnings missed expectations, reporting $1.85 EPS for the quarter, which was below the consensus estimate of $1.94 per share.

Wealthedge Investment Advisors LLC increased its stake in shares of Green Brick Partners, Inc. (NASDAQ:GRBK - Free Report) by 157.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,141 shares of the financial services provider's stock after purchasing an additional 5,595 shares during the quarter. Wealthedge Investment Advisors LLC's holdings in Green Brick Partners were worth $533,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Sterling Capital Management LLC lifted its holdings in Green Brick Partners by 758.8% in the fourth quarter. Sterling Capital Management LLC now owns 730 shares of the financial services provider's stock valued at $41,000 after acquiring an additional 645 shares during the period. Byrne Asset Management LLC lifted its holdings in Green Brick Partners by 50.7% in the first quarter. Byrne Asset Management LLC now owns 2,170 shares of the financial services provider's stock valued at $127,000 after acquiring an additional 730 shares during the period. GAMMA Investing LLC lifted its holdings in Green Brick Partners by 36.8% in the first quarter. GAMMA Investing LLC now owns 2,400 shares of the financial services provider's stock valued at $140,000 after acquiring an additional 646 shares during the period. Covestor Ltd lifted its holdings in Green Brick Partners by 55.1% in the first quarter. Covestor Ltd now owns 2,457 shares of the financial services provider's stock valued at $143,000 after acquiring an additional 873 shares during the period. Finally, CWM LLC lifted its holdings in 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 during the period. 78.24% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, COO Jed Dolson sold 20,000 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $66.76, for a total value of $1,335,200.00. Following the completion of the transaction, the chief operating officer owned 273,605 shares of the company's stock, valued at approximately $18,265,869.80. The trade was a 6.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 29.70% of the company's stock.

Wall Street Analyst Weigh In

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

Green Brick Partners Price Performance

Shares of NASDAQ:GRBK traded down $1.18 during midday trading on Wednesday, hitting $68.00. 44,545 shares of the stock were exchanged, compared to its average volume of 290,831. The stock has a market cap of $2.96 billion, a P/E ratio of 8.83 and a beta of 1.83. 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 company has a 50 day moving average price of $64.58 and a 200-day moving average price of $60.83.

Green Brick Partners (NASDAQ:GRBK - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $1.85 earnings per share (EPS) 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%.The company's revenue was down 2.1% compared to the same quarter last year. During the same period last year, the company posted $2.32 EPS. On average, research analysts forecast that Green Brick Partners, Inc. will post 8.34 earnings per share 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.