Green Brick Partners (NASDAQ:GRBK) Rating Reiterated by Wedbush

Green Brick Partners (NASDAQ:GRBK)‘s stock had its “neutral” rating reaffirmed by research analysts at Wedbush in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $49.00 price objective on the financial services provider’s stock. Wedbush’s target price indicates a potential downside of 13.49% from the company’s previous close.

A number of other research analysts have also weighed in on GRBK. B. Riley raised their target price on shares of Green Brick Partners from $55.00 to $59.00 and gave the company a “neutral” rating in a report on Monday, March 4th. StockNews.com cut shares of Green Brick Partners from a “buy” rating to a “hold” rating in a research report on Sunday, March 17th.

Green Brick Partners Price Performance

GRBK traded up $1.61 during trading on Thursday, hitting $56.64. 530,272 shares of the company traded hands, compared to its average volume of 326,537. The company has a current ratio of 8.70, a quick ratio of 1.44 and a debt-to-equity ratio of 0.23. The company has a market cap of $2.54 billion, a PE ratio of 8.59 and a beta of 1.73. The stock’s 50-day simple moving average is $55.84 and its two-hundred day simple moving average is $51.37. Green Brick Partners has a 1 year low of $37.31 and a 1 year high of $61.62.

Green Brick Partners (NASDAQ:GRBK) last posted its earnings results on Wednesday, May 1st. The financial services provider reported $1.82 EPS for the quarter, topping 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 company had revenue of $447.34 million for the quarter, compared to the consensus estimate of $440.44 million. During the same period in the previous year, the business earned $1.37 earnings per share. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Green Brick Partners will post 6.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Richard S. Press purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was purchased at an average cost of $51.84 per share, with a total value of $51,840.00. Following the purchase, the director now owns 88,063 shares in the company, valued at $4,565,185.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 44.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Pacer Advisors Inc. boosted its holdings in Green Brick Partners by 76.5% in the fourth 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. Vanguard Group Inc. grew its position in Green Brick Partners by 11.0% during the 4th quarter. Vanguard Group Inc. now owns 2,403,836 shares of the financial services provider’s stock worth $124,855,000 after purchasing an additional 237,463 shares during the last quarter. American Century Companies Inc. increased its stake in 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 valued at $17,553,000 after purchasing an additional 99,240 shares in the last quarter. Qube Research & Technologies Ltd raised its holdings in shares of Green Brick Partners by 155.2% in the third quarter. Qube Research & Technologies Ltd now owns 159,387 shares of the financial services provider’s stock worth $6,616,000 after buying an additional 96,923 shares during the last quarter. Finally, Lord Abbett & CO. LLC lifted its stake in shares of Green Brick Partners by 123.1% during the third quarter. Lord Abbett & CO. LLC now owns 149,294 shares of the financial services provider’s stock worth $6,197,000 after buying an additional 82,384 shares during the period. 78.24% of the stock is currently owned by institutional investors.

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.