Cresset Asset Management LLC Sells 19,081 Shares of Green Brick Partners, Inc. $GRBK

Cresset Asset Management LLC lessened its stake in Green Brick Partners, Inc. (NASDAQ:GRBK) by 53.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,312 shares of the financial services provider’s stock after selling 19,081 shares during the period. Cresset Asset Management LLC’s holdings in Green Brick Partners were worth $1,026,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cetera Investment Advisers grew its position in Green Brick Partners by 26.4% in the first quarter. Cetera Investment Advisers now owns 5,368 shares of the financial services provider’s stock worth $313,000 after acquiring an additional 1,122 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Green Brick Partners by 10.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 438,707 shares of the financial services provider’s stock valued at $25,581,000 after purchasing an additional 41,083 shares in the last quarter. Invesco Ltd. lifted its stake in Green Brick Partners by 0.9% during the first quarter. Invesco Ltd. now owns 262,783 shares of the financial services provider’s stock worth $15,323,000 after purchasing an additional 2,230 shares during the last quarter. Nuveen LLC purchased a new position in shares of Green Brick Partners in the 1st quarter worth about $4,333,000. Finally, Public Sector Pension Investment Board increased its position in shares of Green Brick Partners by 27.3% during the 1st quarter. Public Sector Pension Investment Board now owns 97,417 shares of the financial services provider’s stock valued at $5,680,000 after purchasing an additional 20,875 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, BTIG Research began coverage on Green Brick Partners in a research report on Monday, December 1st. They issued a “neutral” rating for the company. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $66.00.

Green Brick Partners Stock Up 3.7%

Shares of NASDAQ:GRBK opened at $66.63 on Thursday. The stock’s 50-day moving average price is $66.15 and its 200-day moving average price is $66.18. Green Brick Partners, Inc. has a 12-month low of $50.57 and a 12-month high of $77.93. The stock has a market capitalization of $2.90 billion, a P/E ratio of 8.65 and a beta of 2.00. 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 (NASDAQ:GRBK) last released its earnings results on Wednesday, October 29th. The financial services provider reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.29. Green Brick Partners had a return on equity of 25.35% and a net margin of 17.70%.The business’s quarterly revenue was down 4.7% on a year-over-year basis. During the same period last year, the firm posted $1.98 earnings per share. On average, equities analysts anticipate 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.