Lord Abbett & CO. LLC Sells 58,812 Shares of Green Brick Partners, Inc. (NASDAQ:GRBK)

Lord Abbett & CO. LLC trimmed its stake in Green Brick Partners, Inc. (NASDAQ:GRBK - Free Report) by 19.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 owned about 0.56% of Green Brick Partners worth $20,771,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Oppenheimer & Co. Inc. acquired a new stake in shares of Green Brick Partners in the third quarter valued at about $1,352,000. Assenagon Asset Management S.A. increased its position in Green Brick Partners by 22.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 79,697 shares of the financial services provider's stock valued at $4,562,000 after purchasing an additional 14,376 shares during the period. Empowered Funds LLC bought a new position in Green Brick Partners during the 3rd quarter worth approximately $4,065,000. Caxton Associates LP acquired a new position in shares of Green Brick Partners in the 2nd quarter worth approximately $858,000. Finally, Principal Financial Group Inc. boosted its stake in shares of Green Brick Partners by 15.3% in the 3rd quarter. Principal Financial Group Inc. now owns 158,760 shares of the financial services provider's stock valued at $13,260,000 after purchasing an additional 21,012 shares during the last quarter. 78.24% of the stock is owned by institutional investors.

Green Brick Partners Trading Down 0.1 %

Shares of GRBK stock traded down $0.08 during trading hours on Monday, hitting $64.14. 192,772 shares of the company were exchanged, compared to its average volume of 381,778. The company has a 50 day simple moving average of $72.68 and a two-hundred day simple moving average of $70.23. The firm has a market cap of $2.85 billion, a P/E ratio of 8.33 and a beta of 1.80. 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, Inc. has a fifty-two week low of $48.38 and a fifty-two week high of $84.66.

Green Brick Partners (NASDAQ:GRBK - Get Free Report) last posted its quarterly 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). 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 during the quarter, compared to analyst estimates of $539.86 million. During the same quarter in the previous year, the business posted $1.56 earnings per share. The company's revenue for the quarter was up 25.0% compared to the same quarter last year. Equities analysts anticipate that Green Brick Partners, Inc. will post 8.24 EPS for the current year.

Wall Street Analyst Weigh In

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

Green Brick Partners Company Profile

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.