Vista Finance Boosts Stake in Green Brick Partners by 4.1%

Vista Finance LLC has increased its stake in Green Brick Partners, Inc. (NASDAQ: GRBK) by 4.1% during the second quarter of 2023, according to a recent filing with the Securities and Exchange Commission (SEC). The firm now holds 5,211 shares of the financial services provider, following the acquisition of an additional 204 shares in this period. As per the latest SEC disclosure, Vista Finance’s holdings are valued at approximately $328,000.

Several other institutional investors have also adjusted their positions in Green Brick Partners. Notably, the Manufacturers Life Insurance Company increased its stake by 56.7% in the first quarter, acquiring 164,273 shares to reach a total of 453,977 shares, valued at about $26.5 million. Granahan Investment Management LLC entered the market with a new position valued at around $6.7 million during the same quarter.

Allianz Asset Management GmbH raised its holding in Green Brick Partners significantly by 171.7% during the second quarter, now owning 131,310 shares valued at $8.26 million. Annex Advisory Services LLC also increased its stake by 16.3%, owning 546,427 shares worth approximately $34.36 million. Additionally, Nuveen LLC established a new position valued at about $4.33 million. Collectively, hedge funds and institutional investors control 78.24% of the company’s stock.

Market Analysts Provide Insights

In a separate development, B. Riley initiated coverage on Green Brick Partners stock on June 30, 2023, assigning a “neutral” rating and a price target of $62.00. Current analysis from MarketBeat indicates that the stock holds a consensus rating of “Hold” with an average price target set at $66.00.

Insider Activity and Company Performance

On August 12, 2023, Chief Operating Officer Jed Dolson sold 20,000 shares of the company’s stock at an average price of $66.76, amounting to a total transaction value of $1,335,200. Post-sale, Dolson retains 273,605 shares, valued at approximately $18.27 million, reflecting a 6.81% decrease in ownership. Corporate insiders now hold 29.70% of the stock.

Green Brick Partners’ shares opened at $67.24 on the last trading day, with a market capitalization of $2.93 billion. The company’s price-to-earnings ratio stands at 8.73 and a beta of 1.96. Financial metrics show a debt-to-equity ratio of 0.20, a quick ratio of 0.63, and a current ratio of 7.57. The stock has experienced a range between a fifty-two week low of $50.57 and a high of $84.19.

In its most recent quarterly earnings report, released on July 30, 2023, Green Brick Partners announced earnings per share of $1.85, falling short of analysts’ expectations of $1.94 by $0.09. The company reported a return on equity of 25.35% and a net margin of 17.70%. Additionally, quarterly revenue declined by 2.1% year-over-year, down from the previous year’s earnings per share of $2.32. Analysts project that Green Brick Partners will achieve earnings of $8.34 per share for the current fiscal year.

Green Brick Partners, Inc. operates as a diversified homebuilding and land development company in the United States, structured into three segments: Builder operations Central, Builder operations Southeast, and Land Development. This operational model supports its focus on home construction and land acquisition strategies, contributing to its significant market presence.