Green Brick Partners (NASDAQ:GRBK) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Friday.

Several other brokerages have also commented on GRBK. Citigroup upped their price target on Green Brick Partners from $11.50 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 20th. Credit Suisse Group began coverage on Green Brick Partners in a research note on Friday, August 24th. They set a “neutral” rating and a $9.00 price target for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $11.33.

Shares of NASDAQ:GRBK opened at $10.00 on Friday. The stock has a market cap of $504.66 million, a price-to-earnings ratio of 8.29 and a beta of 1.48. Green Brick Partners has a 12 month low of $8.90 and a 12 month high of $12.50.

Green Brick Partners (NASDAQ:GRBK) last announced its quarterly earnings results on Monday, August 6th. The financial services provider reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.14. The company had revenue of $155.01 million during the quarter. Green Brick Partners had a return on equity of 13.67% and a net margin of 5.09%.

In other news, CFO Richard Arthur Costello purchased 6,000 shares of the company’s stock in a transaction on Wednesday, June 27th. The stock was bought at an average cost of $9.40 per share, for a total transaction of $56,400.00. Following the completion of the purchase, the chief financial officer now directly owns 37,514 shares of the company’s stock, valued at approximately $352,631.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Daniel S. Loeb sold 7,140,233 shares of the company’s stock in a transaction dated Tuesday, June 26th. The stock was sold at an average price of $9.07, for a total value of $64,761,913.31. The disclosure for this sale can be found here. Insiders have acquired 60,900 shares of company stock valued at $577,111 over the last 90 days. 52.00% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of GRBK. Third Avenue Management LLC purchased a new stake in shares of Green Brick Partners in the second quarter worth about $490,000. Shikiar Asset Management Inc. purchased a new stake in shares of Green Brick Partners in the second quarter worth about $120,000. Monarch Partners Asset Management LLC purchased a new stake in shares of Green Brick Partners in the second quarter worth about $778,000. Swiss National Bank boosted its position in shares of Green Brick Partners by 42.9% in the second quarter. Swiss National Bank now owns 39,000 shares of the financial services provider’s stock worth $382,000 after buying an additional 11,700 shares during the period. Finally, BlackRock Inc. boosted its position in shares of Green Brick Partners by 8.4% in the second quarter. BlackRock Inc. now owns 1,427,562 shares of the financial services provider’s stock worth $13,991,000 after buying an additional 110,038 shares during the period. 76.26% of the stock is owned by institutional investors.

Green Brick Partners Company Profile

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, single family, and luxury homes in residential neighborhoods and master planned communities; development and sale of lots for public and large private builders; and land and construction financing business.

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