First Horizon Advisors Inc. increased its stake in shares of Green Brick Partners, Inc. (NASDAQ:GRBK) by 30.0% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 9,100 shares of the financial services provider’s stock after buying an additional 2,100 shares during the quarter. First Horizon Advisors Inc.’s holdings in Green Brick Partners were worth $206,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. New York State Common Retirement Fund increased its holdings in Green Brick Partners by 11.4% during the first quarter. New York State Common Retirement Fund now owns 90,800 shares of the financial services provider’s stock worth $2,059,000 after buying an additional 9,300 shares during the last quarter. Lord Abbett & CO. LLC purchased a new position in shares of Green Brick Partners in the first quarter worth about $10,035,000. Tieton Capital Management LLC grew its stake in Green Brick Partners by 44.7% during the first quarter. Tieton Capital Management LLC now owns 384,845 shares of the financial services provider’s stock valued at $8,728,000 after acquiring an additional 118,870 shares in the last quarter. HighTower Advisors LLC grew its stake in Green Brick Partners by 118.3% during the first quarter. HighTower Advisors LLC now owns 44,670 shares of the financial services provider’s stock valued at $1,000,000 after acquiring an additional 24,210 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in Green Brick Partners during the first quarter valued at approximately $249,000. Institutional investors and hedge funds own 84.58% of the company’s stock.
GRBK has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Green Brick Partners from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research report on Friday, May 7th. B. Riley lifted their target price on shares of Green Brick Partners from $31.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, May 6th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $29.00.
Green Brick Partners (NASDAQ:GRBK) last released its earnings results on Monday, May 3rd. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.02. The company had revenue of $234.48 million during the quarter, compared to analyst estimates of $225.68 million. Green Brick Partners had a net margin of 12.41% and a return on equity of 19.57%. Research analysts forecast that Green Brick Partners, Inc. will post 3.32 earnings per share for the current fiscal year.
In related news, Director John R. Farris purchased 4,200 shares of the stock in a transaction that occurred on Tuesday, May 18th. The stock was bought at an average cost of $22.73 per share, for a total transaction of $95,466.00. Following the completion of the transaction, the director now directly owns 140,828 shares in the company, valued at $3,201,020.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Harry Brandler purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, May 11th. The stock was bought at an average price of $23.03 per share, with a total value of $230,300.00. Following the completion of the transaction, the director now owns 17,658 shares of the company’s stock, valued at $406,663.74. The disclosure for this purchase can be found here. Company insiders own 39.60% of the company’s stock.
Green Brick Partners Company Profile
Green Brick Partners, Inc operates as a homebuilding and land development company in the United States. It operates in three segments: Builder operations Central, Builder operations Southeast, and Land development. The company is involved in the land acquisition and development, entitlements, design, construction, title and mortgage services, marketing, and sale of townhomes, patio homes, single family homes, and luxury semi-custom homes in residential neighborhoods and master planned communities; development and sale of lots; and land and construction financing business.
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