Wealthedge Investment Advisors LLC Boosts Stake in Green Brick Partners, Inc. (NASDAQ:GRBK)

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 raised its position in Green Brick Partners, Inc. (NASDAQ:GRBK - Free Report) by 157.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,141 shares of the financial services provider's stock after buying an additional 5,595 shares during the period. Wealthedge Investment Advisors LLC's holdings in Green Brick Partners were worth $533,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in Green Brick Partners by 3.3% in the 1st quarter. Principal Financial Group Inc. now owns 170,135 shares of the financial services provider's stock valued at $9,921,000 after buying an additional 5,375 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Green Brick Partners during the 1st quarter worth approximately $371,000. GAMMA Investing LLC increased its stake 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 worth $8,160,000 after purchasing an additional 138,190 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Green Brick Partners by 4.5% during the 4th quarter. Ameriprise Financial Inc. now owns 110,320 shares of the financial services provider's stock worth $6,232,000 after purchasing an additional 4,746 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Green Brick Partners by 52.5% during the 4th quarter. Bank of America Corp DE now owns 89,055 shares of the financial services provider's stock worth $5,031,000 after purchasing an additional 30,677 shares during the last quarter. Hedge funds and other institutional investors own 78.24% of the company's stock.

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 target for the company.

Insider Buying and Selling

In related news, COO Jed Dolson sold 20,000 shares of the firm's stock in a transaction that occurred on 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 directly owned 273,605 shares of the company's stock, valued at approximately $18,265,869.80. This trade represents a 6.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 29.70% of the company's stock.

Green Brick Partners Trading Down 0.9%

Shares of GRBK stock opened at $70.29 on Friday. The company has a 50 day moving average of $64.05 and a 200-day moving average of $60.67. The firm has a market cap of $3.06 billion, a P/E ratio of 9.13 and a beta of 1.83. Green Brick Partners, Inc. has a 12-month low of $50.57 and a 12-month high of $84.66. The company has a quick ratio of 0.63, a current ratio of 7.57 and a debt-to-equity ratio of 0.20.

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 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 for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.32 earnings per share. Sell-side analysts anticipate that Green Brick Partners, Inc. will post 8.34 earnings per share for the current year.

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.

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