Green Brick Partners (NASDAQ:GRBK) Sets New 12-Month High at $62.30

Green Brick Partners, Inc. (NASDAQ:GRBK)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $62.30 and last traded at $62.14, with a volume of 676188 shares. The stock had previously closed at $56.40.

Analysts Set New Price Targets

Several equities research analysts have recently commented on GRBK shares. Wedbush restated a “neutral” rating and set a $49.00 price objective on shares of Green Brick Partners in a report on Thursday, May 2nd. B. Riley lifted their price target on shares of Green Brick Partners from $59.00 to $62.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Finally, StockNews.com downgraded shares of Green Brick Partners from a “buy” rating to a “hold” rating in a report on Sunday, March 17th.

Green Brick Partners Trading Up 10.1 %

The stock has a market capitalization of $2.79 billion, a PE ratio of 9.05 and a beta of 1.80. The company has a quick ratio of 1.16, a current ratio of 8.70 and a debt-to-equity ratio of 0.23. The firm has a 50 day moving average price of $55.84 and a 200 day moving average price of $54.71.

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 analysts’ consensus estimates of $1.51 by $0.31. The business had revenue of $447.34 million during the quarter, compared to analyst estimates of $440.44 million. Green Brick Partners had a return on equity of 24.40% and a net margin of 17.13%. Green Brick Partners’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.37 EPS. Equities analysts expect that Green Brick Partners, Inc. will post 7.46 EPS for the current fiscal year.

Insider Buying and Selling at Green Brick Partners

In related news, CFO Richard Arthur Costello sold 40,000 shares of the business’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 sale, the chief financial officer now directly owns 52,116 shares in the company, valued at approximately $2,958,625.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Richard Arthur Costello sold 40,000 shares of Green Brick Partners stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $56.77, for a total value of $2,270,800.00. Following the completion of the transaction, the chief financial officer now directly owns 52,116 shares in the company, valued at approximately $2,958,625.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard S. Press bought 1,474 shares of the stock in a transaction on Monday, May 6th. The shares were acquired at an average cost of $57.44 per share, for a total transaction of $84,666.56. Following the acquisition, the director now directly owns 1,000 shares in the company, valued at $57,440. The disclosure for this purchase can be found here. Company insiders own 44.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in GRBK. TBH Global Asset Management LLC lifted its holdings in shares of Green Brick Partners by 3.2% in the first quarter. TBH Global Asset Management LLC now owns 8,941 shares of the financial services provider’s stock worth $539,000 after buying an additional 279 shares in the last quarter. Texas Permanent School Fund Corp increased its holdings in Green Brick Partners by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 22,240 shares of the financial services provider’s stock worth $1,340,000 after acquiring an additional 288 shares during the period. ProShare Advisors LLC lifted its stake in Green Brick Partners by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 5,245 shares of the financial services provider’s stock worth $316,000 after purchasing an additional 363 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Green Brick Partners by 37.4% in the 1st quarter. GAMMA Investing LLC now owns 1,577 shares of the financial services provider’s stock valued at $95,000 after purchasing an additional 429 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of Green Brick Partners by 3.1% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 14,771 shares of the financial services provider’s stock valued at $890,000 after purchasing an additional 444 shares in the last quarter. Institutional investors own 78.24% of the company’s stock.

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.