In a recent 13D filing with the US Securities and Exchange Commission, Dan Loeb‘s Third Point reiterated its stake in Green Brick Partners, Inc. (NASDAQ:GRBK), which contains 8.08 million shares, equal to 16.6% of the company’s total outstanding stock. The filing added that Third Point has entered into ordinary course re-balancing transaction that brought no alteration in the total amount of shares owned by Third Point.
“(a) Third Point Master Purchased 482,400 shares of Common Stock, (b) other Funds purchased 305,600 shares of Common Stock and (c) Third Point LP sold 788,000 shares of Common Stock. All of the rebalancing transactions were effected at the same time at a price of $7.1975 per share of Common Stock, net of commissions,” the filing said.
Green Brick Partners is a real estate operator that offers home building services and land development, and its stock had dropped by 11.45% over the last 12 months. Recently Green Brick has made serious investment moves and bought two proprieties in Atlanta, planning to build more than 150 home units, with a build-out value of around $75 million. The Providence Group of Georgia, a subsidiary of Green Brick Partners, Inc. (NASDAQ:GRBK), will be in charge of the project.
Other hedge funds that have reported long positions in Green Brick Partners, Inc. (NASDAQ:GRBK), are David Einhorn’s Greenlight Capital, Terence Hogan’s Addison Clark Management, Rod Hinze’s KeyPoint Capital Management, and Marc Majzner’s Clearline Capital.
On the other hand, investors who lost interest in this stock, include Richard Driehaus’s Driehaus Capital that cut the largest stake worth about $5.8 million in stock, and Israel Englander’s Millennium Management, which dumped $5.4 million worth of shares.
You can access the original SEC filing by clicking here.
Ownership Summary Table
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| Third Point | 0 | 8,083,022 | 0 | 8,083,022 | 8,083,022 | 16.6% |
| Daniel S. Loeb | 99,943 | 8,083,022 | 99,943 | 8,083,022 | 8,182,965 | 16.8% |
| Third Point Partners | 0 | 1,902,647 | 0 | 1,902,647 | 1,902,647 | 3.9% |
| Third Point Partners Qualified | 0 | 1,705,143 | 0 | 1,705,143 | 1,705,143 | 3.5% |
| Third Point Offshore Master Fund | 0 | 2,657,778 | 0 | 2,657,778 | 2,657,778 | 5.4% |
| Third Point Advisors II | 0 | 2,657,778 | 0 | 2,657,778 | 2,657,778 | 5.4% |
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Page 1 of 11 – SEC Filing
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Amendment No. 9)
Under the Securities Exchange Act of 1934
Green Brick Partners, Inc.
(Name of Company)
Common Stock, $0.01 per share
(Title of Class of Securities)
392709101
(CUSIP Number)
Joshua L. Targoff
Third Point LLC
390 Park Avenue, 19th Floor
New York, NY 10022
(212) 715-3880
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
(with copies to)
Manuel A. Miranda, Esq.
Willkie Farr & Gallagher LLP
787 Seventh Avenue
New York, NY 10019
(212) 728-8747
April 8, 2016
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box: ☐
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 240.13d-7 for other parties to whom copies are to be sent.
* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
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