Green Brick Partners (NASDAQ:GRBK) Posts Earnings Results, Beats Estimates By $0.08 EPS

Green Brick Partners (NASDAQ:GRBK) issued its earnings results on Thursday. The financial services provider reported $0.29 EPS for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.08, Morningstar.com reports. Green Brick Partners had a net margin of 7.66% and a return on equity of 12.72%. The business had revenue of $183.51 million for the quarter, compared to the consensus estimate of $165.00 million.

Green Brick Partners stock traded up $0.31 during midday trading on Friday, hitting $9.83. 118,081 shares of the stock were exchanged, compared to its average volume of 52,810. Green Brick Partners has a 1 year low of $6.65 and a 1 year high of $10.70. The stock has a market cap of $482.43 million, a price-to-earnings ratio of 7.18 and a beta of 1.59. The company has a 50 day simple moving average of $9.22.

A number of equities analysts have recently commented on the stock. Zacks Investment Research raised shares of Green Brick Partners from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research note on Thursday, July 25th. BidaskClub raised shares of Green Brick Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, July 9th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $9.57.

In other news, Director Harry Brandler purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were purchased at an average price of $8.97 per share, with a total value of $44,850.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John R. Farris purchased 7,000 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The shares were purchased at an average cost of $8.25 per share, for a total transaction of $57,750.00. Following the purchase, the director now directly owns 106,470 shares in the company, valued at $878,377.50. The disclosure for this purchase can be found here. Insiders own 52.40% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Punch & Associates Investment Management Inc. increased its stake in Green Brick Partners by 1.0% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 1,759,627 shares of the financial services provider’s stock worth $15,397,000 after buying an additional 17,857 shares during the period. BlackRock Inc. increased its position in shares of Green Brick Partners by 1.2% in the 4th quarter. BlackRock Inc. now owns 1,524,522 shares of the financial services provider’s stock worth $11,037,000 after purchasing an additional 18,275 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Green Brick Partners by 14.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,318,372 shares of the financial services provider’s stock worth $9,545,000 after purchasing an additional 167,526 shares during the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of Green Brick Partners by 28.1% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 1,097,494 shares of the financial services provider’s stock worth $9,603,000 after purchasing an additional 241,013 shares during the last quarter. Finally, GW&K Investment Management LLC bought a new stake in shares of Green Brick Partners in the 2nd quarter worth about $4,690,000. 81.15% of the stock is currently owned by hedge funds and other institutional investors.

About Green Brick Partners

Green Brick Partners, Inc operates as a homebuilding and land development company in the United States. It operates in Builder Operations and Land Development segments. The company is involved in the land acquisition and development, entitlements, design, construction, marketing, and sale of townhomes, patio homes, single family homes, and luxury homes in residential neighborhoods and master planned communities; development and sale of lots; and land and construction financing business.

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Earnings History for Green Brick Partners (NASDAQ:GRBK)

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