Green Brick Partners (NASDAQ:GRBK) Hits New 12-Month High at $73.71

Green Brick Partners, Inc. (NASDAQ:GRBK) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $73.71 and last traded at $73.66, with a volume of 88040 shares trading hands. The stock had previously closed at $71.79.

Analysts Set New Price Targets

Several brokerages recently issued reports on GRBK. B. Riley boosted their price objective on Green Brick Partners from $59.00 to $62.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Wedbush reiterated a “neutral” rating and issued a $49.00 price objective on shares of Green Brick Partners in a research report on Thursday, May 2nd.

Green Brick Partners Price Performance

The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of 11.02 and a beta of 1.80. The company has a 50-day moving average of $58.41 and a 200-day moving average of $55.91. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 8.70.

Green Brick Partners (NASDAQ:GRBK) last released its 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 analysts’ expectations of $440.44 million. Green Brick Partners had a return on equity of 24.40% and a net margin of 17.13%. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.37 EPS. As a group, research analysts anticipate that Green Brick Partners, Inc. will post 7.46 EPS for the current fiscal year.

Insider Buying and Selling at Green Brick Partners

In other news, Director David Einhorn sold 1,000,000 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $57.80, for a total transaction of $57,800,000.00. Following the sale, the director now owns 1,302,690 shares in the company, valued at approximately $75,295,482. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Richard Arthur Costello sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $56.77, for a total transaction of $2,270,800.00. Following the sale, the chief financial officer now owns 52,116 shares in the company, valued at approximately $2,958,625.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director David Einhorn sold 1,000,000 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $57.80, for a total value of $57,800,000.00. Following the sale, the director now owns 1,302,690 shares in the company, valued at approximately $75,295,482. The disclosure for this sale can be found here. Company insiders own 44.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GRBK. Vanguard Group Inc. increased its holdings in shares of Green Brick Partners by 10.1% during the 3rd quarter. Vanguard Group Inc. now owns 2,166,373 shares of the financial services provider’s stock worth $89,926,000 after acquiring an additional 199,471 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Green Brick Partners by 84.5% during the 4th quarter. SG Americas Securities LLC now owns 12,534 shares of the financial services provider’s stock worth $651,000 after acquiring an additional 5,740 shares during the last quarter. Raymond James & Associates increased its holdings in shares of Green Brick Partners by 138.8% during the 4th quarter. Raymond James & Associates now owns 36,829 shares of the financial services provider’s stock worth $1,913,000 after acquiring an additional 21,404 shares during the last quarter. Planned Solutions Inc. acquired a new position in shares of Green Brick Partners during the 4th quarter worth approximately $123,000. Finally, PFG Advisors acquired a new position in shares of Green Brick Partners during the 4th quarter worth approximately $264,000. 78.24% of the stock is owned by institutional investors and hedge funds.

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.