Green Brick Partners (NASDAQ:GRBK) PT Raised to $62.00

Green Brick Partners (NASDAQ:GRBK) had its price objective lifted by investment analysts at B. Riley from $59.00 to $62.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. B. Riley’s price target suggests a potential upside of 9.46% from the stock’s previous close. B. Riley also issued estimates for Green Brick Partners’ Q2 2024 earnings at $1.81 EPS, Q3 2024 earnings at $1.85 EPS and Q4 2024 earnings at $1.86 EPS.

Other equities research analysts have also recently issued reports about the stock. Wedbush reissued a “neutral” rating and issued a $49.00 target price on shares of Green Brick Partners in a research report on Thursday. StockNews.com cut shares of Green Brick Partners from a “buy” rating to a “hold” rating in a research note on Sunday, March 17th.

Green Brick Partners Trading Up 2.9 %

Shares of Green Brick Partners stock traded up $1.61 during trading hours on Friday, reaching $56.64. 530,272 shares of the company’s stock were exchanged, compared to its average volume of 326,537. Green Brick Partners has a 52-week low of $37.31 and a 52-week high of $61.62. The company has a fifty day moving average of $55.84 and a 200-day moving average of $51.44. 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 firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of 8.59 and a beta of 1.73.

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

Insider Transactions at Green Brick Partners

In other Green Brick Partners news, Director Richard S. Press purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were purchased at an average price of $52.41 per share, for a total transaction of $52,410.00. Following the completion of the acquisition, the director now owns 87,063 shares of the company’s stock, valued at approximately $4,562,971.83. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 44.40% of the company’s stock.

Institutional Trading of Green Brick Partners

Large investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC boosted its position in shares of Green Brick Partners by 5,000.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,020 shares of the financial services provider’s stock worth $53,000 after buying an additional 1,000 shares during the period. GAMMA Investing LLC purchased a new position in Green Brick Partners in the 4th quarter worth approximately $60,000. Byrne Asset Management LLC boosted its holdings in Green Brick Partners by 40.4% in the 1st quarter. Byrne Asset Management LLC now owns 1,600 shares of the financial services provider’s stock worth $96,000 after acquiring an additional 460 shares during the period. Rocky Mountain Advisers LLC grew its position in Green Brick Partners by 377.5% in the first quarter. Rocky Mountain Advisers LLC now owns 1,910 shares of the financial services provider’s stock valued at $115,000 after acquiring an additional 1,510 shares in the last quarter. Finally, Planned Solutions Inc. purchased a new stake in shares of Green Brick Partners during the fourth quarter valued at approximately $123,000. 78.24% of the stock is currently 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.