Green Brick Partners (NASDAQ:GRBK) PT Raised to $62.00

Green Brick Partners (NASDAQ:GRBK) had its price target boosted by B. Riley from $59.00 to $62.00 in a report released on Friday, Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock. B. Riley also issued estimates for Green Brick Partners’ Q2 2024 earnings at $1.81 EPS, Q3 2024 earnings at $1.85 EPS and Q4 2024 earnings at $1.86 EPS.

Several other brokerages have also issued reports on GRBK. StockNews.com lowered Green Brick Partners from a buy rating to a hold rating in a research note on Sunday, March 17th. Wedbush reaffirmed a neutral rating and set a $49.00 target price on shares of Green Brick Partners in a report on Thursday, May 2nd.

Green Brick Partners Price Performance

GRBK stock opened at $56.41 on Friday. Green Brick Partners has a one year low of $37.31 and a one year high of $61.62. The company has a debt-to-equity ratio of 0.23, a current ratio of 8.70 and a quick ratio of 1.16. The stock has a market cap of $2.53 billion, a PE ratio of 8.56 and a beta of 1.73. The firm has a 50 day simple moving average of $55.82 and a two-hundred day simple moving average of $51.65.

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

Insiders Place Their Bets

In other news, Director Richard S. Press bought 1,000 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were purchased at an average price of $52.41 per share, for a total transaction of $52,410.00. Following the completion of the acquisition, the director now owns 87,063 shares of the company’s stock, valued at $4,562,971.83. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Richard S. Press acquired 1,000 shares of the stock in a transaction dated Friday, March 8th. The stock was purchased at an average cost of $52.41 per share, with a total value of $52,410.00. Following the completion of the purchase, the director now owns 87,063 shares in the company, valued at approximately $4,562,971.83. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Richard Arthur Costello sold 40,000 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $56.77, for a total value of $2,270,800.00. Following the completion of the sale, the chief financial officer now directly owns 52,116 shares in the company, valued at $2,958,625.32. The disclosure for this sale can be found here. Insiders own 44.40% of the company’s stock.

Institutional Investors Weigh In On Green Brick Partners

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Green Brick Partners by 10.1% during the third quarter. Vanguard Group Inc. now owns 2,166,373 shares of the financial services provider’s stock valued at $89,926,000 after buying an additional 199,471 shares during the period. Lord Abbett & CO. LLC grew its holdings in shares of Green Brick Partners by 123.1% during the 3rd quarter. Lord Abbett & CO. LLC now owns 149,294 shares of the financial services provider’s stock worth $6,197,000 after acquiring an additional 82,384 shares during the period. Graham Capital Management L.P. bought a new position in shares of Green Brick Partners in the 3rd quarter worth approximately $1,229,000. GAMMA Investing LLC purchased a new position in shares of Green Brick Partners in the 4th quarter valued at approximately $60,000. Finally, Qube Research & Technologies Ltd boosted its position in shares of Green Brick Partners by 155.2% during the third quarter. Qube Research & Technologies Ltd now owns 159,387 shares of the financial services provider’s stock valued at $6,616,000 after purchasing an additional 96,923 shares in the last quarter. 78.24% of the stock is owned by hedge funds and other institutional investors.

Green Brick Partners Company Profile

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.