Green Brick Partners, Inc. (NASDAQ:GRBK) Shares Sold by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC cut its stake in shares of Green Brick Partners, Inc. (NASDAQ:GRBK) by 19.1% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 248,691 shares of the financial services provider’s stock after selling 58,812 shares during the period. Lord Abbett & CO. LLC’s holdings in Green Brick Partners were worth $20,771,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GRBK. Hollencrest Capital Management purchased a new position in Green Brick Partners in the 3rd quarter valued at about $29,000. Blue Trust Inc. acquired a new stake in shares of Green Brick Partners in the second quarter worth approximately $48,000. nVerses Capital LLC raised its stake in Green Brick Partners by 1,000.0% in the 2nd quarter. nVerses Capital LLC now owns 2,200 shares of the financial services provider’s stock valued at $126,000 after purchasing an additional 2,000 shares during the last quarter. GAMMA Investing LLC raised its stake in Green Brick Partners by 20.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the financial services provider’s stock valued at $147,000 after purchasing an additional 305 shares during the last quarter. Finally, Grey Fox Wealth Advisors LLC purchased a new position in Green Brick Partners in the 3rd quarter valued at $209,000. 78.24% of the stock is owned by hedge funds and other institutional investors.

Green Brick Partners Price Performance

Shares of GRBK stock opened at $64.22 on Monday. The company has a debt-to-equity ratio of 0.20, a current ratio of 7.57 and a quick ratio of 0.63. The company has a market capitalization of $2.86 billion, a PE ratio of 8.34 and a beta of 1.80. The firm’s 50-day moving average is $72.97 and its two-hundred day moving average is $70.15. Green Brick Partners, Inc. has a 12 month low of $48.38 and a 12 month high of $84.66.

Green Brick Partners (NASDAQ:GRBK) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $1.98 EPS for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.09). The business had revenue of $523.70 million during the quarter, compared to analysts’ expectations of $539.86 million. Green Brick Partners had a net margin of 17.70% and a return on equity of 25.35%. Green Brick Partners’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.56 EPS. Analysts predict that Green Brick Partners, Inc. will post 8.24 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, JMP Securities reiterated a “market perform” rating on shares of Green Brick Partners in a research report on Tuesday, December 3rd.

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.