Green Brick Partners, Inc. (NASDAQ:GRBK – Get Free Report) shares were down 8.7% during trading on Thursday following a dissappointing earnings announcement. The stock traded as low as $69.26 and last traded at $69.52. Approximately 151,267 shares traded hands during trading, a decline of 61% from the average daily volume of 387,979 shares. The stock had previously closed at $76.15.
The financial services provider reported $1.98 earnings per share for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.10). The company had revenue of $523.70 million for the quarter, compared to the consensus estimate of $539.86 million. Green Brick Partners had a return on equity of 25.42% and a net margin of 17.78%. Green Brick Partners’s revenue was up 25.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.56 EPS.
Wall Street Analyst Weigh In
GRBK has been the subject of a number of research reports. B. Riley increased their target price on Green Brick Partners from $62.00 to $78.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Wedbush reissued a “neutral” rating and issued a $60.00 price objective (up from $53.00) on shares of Green Brick Partners in a research report on Monday, August 5th.
Institutional Trading of Green Brick Partners
Institutional investors and hedge funds have recently made changes to their positions in the business. Blue Trust Inc. purchased a new position in Green Brick Partners in the 2nd quarter worth about $48,000. nVerses Capital LLC raised its stake in shares of Green Brick Partners by 1,000.0% during the second quarter. nVerses Capital LLC now owns 2,200 shares of the financial services provider’s stock valued at $126,000 after acquiring an additional 2,000 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Green Brick Partners by 20.9% during 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 in the last quarter. Grey Fox Wealth Advisors LLC purchased a new stake in shares of Green Brick Partners in the third quarter valued at approximately $209,000. Finally, Hennion & Walsh Asset Management Inc. bought a new position in Green Brick Partners in the first quarter worth approximately $233,000. 78.24% of the stock is currently owned by institutional investors.
Green Brick Partners Price Performance
The company has a market capitalization of $3.09 billion, a PE ratio of 10.65 and a beta of 1.80. The firm has a fifty day simple moving average of $78.70 and a 200 day simple moving average of $66.70. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.87 and a current ratio of 8.28.
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.
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