Green Brick Partners (NASDAQ:GRBK) Stock Rating Reaffirmed by Wedbush

Wedbush reaffirmed their neutral rating on shares of Green Brick Partners (NASDAQ:GRBK) in a report released on Thursday, Benzinga reports. Wedbush currently has a $49.00 target price on the financial services provider’s stock.

Several other research firms also recently issued reports on GRBK. StockNews.com downgraded shares of Green Brick Partners from a buy rating to a hold rating in a research note on Sunday, March 17th. B. Riley increased their price objective on Green Brick Partners from $55.00 to $59.00 and gave the stock a neutral rating in a research report on Monday, March 4th.

Green Brick Partners Stock Up 2.9 %

NASDAQ GRBK opened at $56.64 on Thursday. The business’s fifty day simple moving average is $55.84 and its 200-day simple moving average is $51.53. The company has a quick ratio of 1.44, a current ratio of 8.70 and a debt-to-equity ratio of 0.23. The firm has a market cap of $2.54 billion, a PE ratio of 8.59 and a beta of 1.73. Green Brick Partners has a 52 week low of $37.31 and a 52 week high of $61.62.

Green Brick Partners (NASDAQ:GRBK) last released its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $1.82 EPS for the quarter, beating the consensus estimate of $1.51 by $0.31. The firm had revenue of $447.34 million for the quarter, compared to analyst estimates of $440.44 million. Green Brick Partners had a net margin of 17.13% and a return on equity of 24.40%. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.37 EPS. As a group, equities analysts anticipate that Green Brick Partners will post 6.77 earnings per share for the current year.

Insider Transactions at Green Brick Partners

In other news, Director Richard S. Press purchased 1,000 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were acquired at an average cost of $51.84 per share, for a total transaction of $51,840.00. Following the completion of the purchase, the director now directly owns 88,063 shares in the company, valued at approximately $4,565,185.92. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 44.40% of the company’s stock.

Institutional Investors Weigh In On Green Brick Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of GRBK. Vanguard Group Inc. lifted its stake in shares of Green Brick Partners by 11.0% in the fourth quarter. Vanguard Group Inc. now owns 2,403,836 shares of the financial services provider’s stock valued at $124,855,000 after purchasing an additional 237,463 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Green Brick Partners by 76.5% during the 4th quarter. Pacer Advisors Inc. now owns 1,253,421 shares of the financial services provider’s stock worth $65,103,000 after acquiring an additional 543,450 shares in the last quarter. Salem Investment Counselors Inc. raised its holdings in Green Brick Partners by 1.7% during the first quarter. Salem Investment Counselors Inc. now owns 737,138 shares of the financial services provider’s stock worth $44,398,000 after purchasing an additional 12,035 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Green Brick Partners by 30.7% during the 3rd quarter. American Century Companies Inc. now owns 422,869 shares of the financial services provider’s stock worth $17,553,000 after buying an additional 99,240 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Green Brick Partners by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 214,490 shares of the financial services provider’s stock valued at $11,141,000 after acquiring an additional 9,556 shares during the last quarter. Institutional investors and hedge funds own 78.24% of the company’s stock.

About Green Brick Partners

Green Brick Partners, Inc (NYSE: GRBK), the third largest homebuilder in Dallas-Fort Worth, is a diversified homebuilding and land development company that operates in Texas, Georgia, and Florida. Green Brick owns five subsidiary homebuilders in Texas (CB JENI Homes, Normandy Homes, Southgate Homes, Trophy Signature Homes, and a 90% interest in Centre Living Homes), as well as a controlling interest in a homebuilder in Atlanta, Georgia (The Providence Group) and an 80% interest in a homebuilder in Port St.