Salem Investment Counselors Inc. Sells 59,896 Shares of Green Brick Partners, Inc. (NASDAQ:GRBK)

Salem Investment Counselors Inc. reduced its stake in shares of Green Brick Partners, Inc. (NASDAQ:GRBK) by 8.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 679,172 shares of the financial services provider’s stock after selling 59,896 shares during the period. Green Brick Partners makes up 1.3% of Salem Investment Counselors Inc.’s investment portfolio, making the stock its 15th biggest position. Salem Investment Counselors Inc.’s holdings in Green Brick Partners were worth $38,366,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Hollencrest Capital Management bought a new position in Green Brick Partners in the 3rd quarter valued at about $29,000. Blue Trust Inc. boosted its position in shares of Green Brick Partners by 43.6% during the 3rd quarter. Blue Trust Inc. now owns 1,142 shares of the financial services provider’s stock worth $95,000 after acquiring an additional 347 shares in the last quarter. GAMMA Investing LLC increased its stake in Green Brick Partners by 20.9% in the third quarter. GAMMA Investing LLC now owns 1,766 shares of the financial services provider’s stock valued at $147,000 after acquiring an additional 305 shares during the last quarter. Grey Fox Wealth Advisors LLC acquired a new position in Green Brick Partners during the third quarter valued at approximately $209,000. Finally, nVerses Capital LLC lifted its stake in Green Brick Partners by 31.8% during the third quarter. nVerses Capital LLC now owns 2,900 shares of the financial services provider’s stock worth $242,000 after purchasing an additional 700 shares during the last quarter. Institutional investors own 78.24% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Green Brick Partners Price Performance

Shares of Green Brick Partners stock traded up $1.11 during midday trading on Monday, hitting $55.60. 75,985 shares of the company traded hands, compared to its average volume of 252,130. The firm’s fifty day moving average price is $64.79 and its 200-day moving average price is $70.32. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 7.22 and a beta of 1.84. Green Brick Partners, Inc. has a 12 month low of $48.38 and a 12 month high of $84.66. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.63 and a current ratio of 7.57.

Green Brick Partners (NASDAQ:GRBK) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.07 by ($0.09). Green Brick Partners had a return on equity of 25.35% and a net margin of 17.70%. The company had revenue of $523.70 million for the quarter, compared to analyst estimates of $539.86 million. During the same quarter last year, the company posted $1.56 earnings per share. The firm’s quarterly revenue was up 25.0% on a year-over-year basis. As a group, sell-side analysts forecast that Green Brick Partners, Inc. will post 8.24 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.