Green Brick Partners (NASDAQ:GRBK) Given Neutral Rating at Wedbush

Wedbush reiterated their neutral rating on shares of Green Brick Partners (NASDAQ:GRBK) in a report issued on Thursday, Benzinga reports. The firm currently has a $49.00 price objective on the financial services provider’s stock.

Several other brokerages also recently weighed in on GRBK. StockNews.com downgraded shares of Green Brick Partners from a buy rating to a hold rating in a report on Sunday, March 17th. B. Riley upped their price objective 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.

Green Brick Partners Stock Performance

Shares of NASDAQ:GRBK traded up $1.61 on Thursday, hitting $56.64. 530,272 shares of the company were exchanged, 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 stock’s 50 day moving average price is $55.84 and its 200 day moving average price is $51.37. Green Brick Partners has a 1-year low of $37.31 and a 1-year high of $61.62. The firm has a market capitalization of $2.54 billion, a P/E ratio of 8.59 and a beta of 1.73.

Green Brick Partners (NASDAQ:GRBK) last issued its quarterly 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. The company had revenue of $447.34 million during 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 firm’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.37 EPS. Sell-side analysts predict that Green Brick Partners will post 6.77 EPS for the current year.

Insider Transactions at Green Brick Partners

In related news, Director Richard S. Press purchased 1,000 shares of Green Brick Partners stock in a transaction that occurred on Friday, March 8th. The stock was bought at an average cost of $52.41 per share, for a total transaction of $52,410.00. Following the completion of the transaction, the director now owns 87,063 shares in the company, valued at $4,562,971.83. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 44.40% of the company’s stock.

Hedge Funds Weigh In On Green Brick Partners

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Green Brick Partners by 10.1% during the third quarter. Vanguard Group Inc. now owns 2,166,373 shares of the financial services provider’s stock valued at $89,926,000 after buying an additional 199,471 shares during the period. Lord Abbett & CO. LLC increased its stake in shares of Green Brick Partners by 123.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 149,294 shares of the financial services provider’s stock valued at $6,197,000 after purchasing an additional 82,384 shares in the last quarter. Graham Capital Management L.P. acquired a new position in Green Brick Partners in the 3rd quarter worth about $1,229,000. GAMMA Investing LLC acquired a new position in Green Brick Partners in the 4th quarter worth about $60,000. Finally, Qube Research & Technologies Ltd boosted its position in Green Brick Partners by 155.2% during the third quarter. Qube Research & Technologies Ltd now owns 159,387 shares of the financial services provider’s stock worth $6,616,000 after purchasing an additional 96,923 shares in the last quarter. 78.24% of the stock is owned by hedge funds and other 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.