Elgethun Capital Management Trims Holdings in Green Brick Partners, Inc. (NASDAQ:GRBK)

Elgethun Capital Management trimmed its position in Green Brick Partners, Inc. (NASDAQ:GRBK) by 46.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,800 shares of the financial services provider’s stock after selling 5,000 shares during the quarter. Elgethun Capital Management’s holdings in Green Brick Partners were worth $329,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GRBK. JPMorgan Chase & Co. boosted its stake in Green Brick Partners by 56.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 54,334 shares of the financial services provider’s stock worth $3,086,000 after purchasing an additional 19,517 shares during the period. ProShare Advisors LLC bought a new position in Green Brick Partners in the 2nd quarter worth approximately $235,000. US Bancorp DE boosted its stake in Green Brick Partners by 345.6% in the 2nd quarter. US Bancorp DE now owns 557 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 432 shares during the period. Moors & Cabot Inc. bought a new position in Green Brick Partners in the 2nd quarter worth approximately $312,000. Finally, Cetera Advisors LLC bought a new position in Green Brick Partners in the 2nd quarter worth approximately $279,000. 78.24% of the stock is owned by hedge funds and other institutional investors.

Green Brick Partners Stock Down 0.4 %

Shares of Green Brick Partners stock traded down $0.20 during trading on Tuesday, hitting $47.36. 36,464 shares of the stock traded hands, compared to its average volume of 386,020. The firm has a market cap of $2.15 billion, a P/E ratio of 8.29 and a beta of 1.67. The company has a current ratio of 7.97, a quick ratio of 1.49 and a debt-to-equity ratio of 0.28. Green Brick Partners, Inc. has a 52-week low of $22.92 and a 52-week high of $59.30. The stock’s fifty day simple moving average is $42.07 and its 200 day simple moving average is $48.69.

Green Brick Partners (NASDAQ:GRBK) last issued its quarterly earnings results on Tuesday, October 31st. The financial services provider reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.21. The business had revenue of $418.98 million during the quarter, compared to the consensus estimate of $403.47 million. Green Brick Partners had a return on equity of 23.90% and a net margin of 15.19%. On average, equities analysts predict that Green Brick Partners, Inc. will post 6.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GRBK. Wedbush reiterated a “neutral” rating and set a $40.00 target price on shares of Green Brick Partners in a research report on Thursday, August 3rd. StockNews.com began coverage on Green Brick Partners in a research report on Thursday, October 5th. They set a “hold” rating for the company.

Insiders Place Their Bets

In related news, Director David Einhorn sold 850,000 shares of Green Brick Partners stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $45.63, for a total transaction of $38,785,500.00. Following the completion of the sale, the director now owns 8,767,648 shares of the company’s stock, valued at $400,067,778.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 44.40% of the company’s stock.

About Green Brick Partners

Green Brick Partners, Inc is a diversified homebuilding and land development company that operates in Texas, Georgia, and Florida and has a non-controlling interest in a Colorado homebuilder. 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.