Is it a Wise Decision to Acquire Green Brick Partners (GRBK) Shares?

Greenlight Capital, an investment management firm, published its second-quarter 2022 investor letter – a copy of which can be downloaded here. The Greenlight Capital funds (the “Partnerships”) returned 8.4% in the second quarter of 2022 and 13.2% for the first half of 2022, compared to a 16.1% decline and a 20.0% decline for the S&P 500 index for the quarter and a half year, respectively. Go over the fund’s top 5 positions to have a glimpse of its finest picks for 2022.

In its Q2 2022 investor letter, Greenlight Capital mentioned Green Brick Partners, Inc. (NASDAQ:GRBK) and explained its insights for the company. Founded in 2006, Green Brick Partners, Inc. (NASDAQ:GRBK) is a Plano, Texas-based operative builders company with a $1.3 billion market capitalization. Green Brick Partners, Inc. (NASDAQ:GRBK) delivered a 0.10% return since the beginning of the year, while its 12-month returns are up by 17.49%. The stock closed at $30.36 per share on August 12, 2022.

Here is what Greenlight Capital has to say about Green Brick Partners, Inc. (NASDAQ:GRBK) in its Q2 2022 investor letter:

“Green Brick Partners (NASDAQ:GRBK). The shares ended the quarter at $19.57. This is about 1.1x book value and less than 4x consensus earnings. The company bought back 5% of its shares as of its last quarterly announcement and authorized another buyback of an additional 10% of the shares.”

Our calculations show that Green Brick Partners, Inc. (NASDAQ:GRBK) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Green Brick Partners, Inc. (NASDAQ:GRBK) was in 13 hedge fund portfolios at the end of the second quarter of 2022, compared to 12 funds in the previous quarter. Green Brick Partners, Inc. (NASDAQ:GRBK) delivered a 36.27% return in the past 3 months.

In July 2022, we also shared another hedge fund’s views on Green Brick Partners, Inc. (NASDAQ:GRBK) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q2 page.

Disclosure: None. This article is originally published at Insider Monkey.