Summit Global Investments Has $439,000 Stake in Green Brick Partners, Inc. (NASDAQ:GRBK)

Summit Global Investments cut its position in Green Brick Partners, Inc. (NASDAQ:GRBK) by 62.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,457 shares of the financial services provider’s stock after selling 14,266 shares during the quarter. Summit Global Investments’ holdings in Green Brick Partners were worth $439,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of GRBK. Nisa Investment Advisors LLC raised its position in shares of Green Brick Partners by 5,000.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,020 shares of the financial services provider’s stock valued at $53,000 after buying an additional 1,000 shares in the last quarter. GAMMA Investing LLC bought a new position in Green Brick Partners during the 4th quarter worth $60,000. Planned Solutions Inc. acquired a new position in Green Brick Partners in the 4th quarter valued at $123,000. Optimum Investment Advisors lifted its position in shares of Green Brick Partners by 433.3% during the 4th quarter. Optimum Investment Advisors now owns 2,400 shares of the financial services provider’s stock valued at $125,000 after acquiring an additional 1,950 shares during the period. Finally, Whittier Trust Co. grew its holdings in shares of Green Brick Partners by 148.8% during the 4th quarter. Whittier Trust Co. now owns 2,508 shares of the financial services provider’s stock worth $130,000 after purchasing an additional 1,500 shares in the last quarter. 78.24% of the stock is currently owned by institutional investors and hedge funds.

Green Brick Partners Price Performance

Shares of GRBK stock opened at $56.64 on Monday. The company has a market cap of $2.54 billion, a P/E ratio of 8.59 and a beta of 1.73. The company has a quick ratio of 1.44, a current ratio of 8.70 and a debt-to-equity ratio of 0.23. Green Brick Partners, Inc. has a twelve month low of $37.31 and a twelve month high of $61.62. The business has a fifty day simple moving average of $55.84 and a 200 day simple moving average of $51.53.

Green Brick Partners (NASDAQ:GRBK) last released its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.31. Green Brick Partners had a net margin of 17.13% and a return on equity of 24.40%. The business had revenue of $447.34 million during the quarter, compared to analysts’ expectations of $440.44 million. During the same period in the prior year, the company earned $1.37 EPS. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. On average, sell-side analysts forecast that Green Brick Partners, Inc. will post 6.77 EPS for the current fiscal year.

Insider Transactions at Green Brick Partners

In other news, Director Richard S. Press acquired 1,000 shares of the stock in a transaction dated Friday, March 8th. The stock was bought at an average price of $52.41 per share, with a total value of $52,410.00. Following the completion of the purchase, the director now directly owns 87,063 shares of the company’s stock, valued at approximately $4,562,971.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 44.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Wedbush reaffirmed a “neutral” rating and set a $49.00 price objective on shares of Green Brick Partners in a research report on Thursday. StockNews.com downgraded shares of Green Brick Partners from a “buy” rating to a “hold” rating in a report on Sunday, March 17th. Finally, B. Riley lifted their price objective on shares of Green Brick Partners from $59.00 to $62.00 and gave the company a “neutral” rating in a research note on Friday.

Green Brick Partners Company Profile

Green Brick Partners, Inc (NYSE: GRBK), the third largest homebuilder in Dallas-Fort Worth, is a diversified homebuilding and land development company that operates in Texas, Georgia, and Florida. Green Brick owns five subsidiary homebuilders in Texas (CB JENI Homes, Normandy Homes, Southgate Homes, Trophy Signature Homes, and a 90% interest in Centre Living Homes), as well as a controlling interest in a homebuilder in Atlanta, Georgia (The Providence Group) and an 80% interest in a homebuilder in Port St.