Green Brick Partners (NASDAQ:GRBK) Reaches New 1-Year High – Here’s Why

Green Brick Partners, Inc. (NASDAQ:GRBK)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $78.21 and last traded at $78.49, with a volume of 61997 shares trading hands. The stock had previously closed at $74.77.

Wall Street Analysts Forecast Growth

Separately, BTIG Research assumed coverage on Green Brick Partners in a report on Monday, December 1st. They issued a “neutral” rating for the company. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat, Green Brick Partners has a consensus rating of “Hold” and an average price target of $66.00.

Green Brick Partners Trading Up 3.9%

The firm has a market capitalization of $3.38 billion, a P/E ratio of 10.09 and a beta of 1.99. The firm has a fifty day simple moving average of $68.05 and a two-hundred day simple moving average of $68.02. The company has a debt-to-equity ratio of 0.20, a current ratio of 7.57 and a quick ratio of 0.63.

Hedge Funds Weigh In On Green Brick Partners

Several large investors have recently modified their holdings of the business. Osterweis Capital Management Inc. purchased a new stake in shares of Green Brick Partners during the 2nd quarter valued at approximately $31,000. Parkside Financial Bank & Trust lifted its position in shares of Green Brick Partners by 1,228.6% during the third quarter. Parkside Financial Bank & Trust now owns 465 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 430 shares in the last quarter. Clearstead Advisors LLC lifted its position in shares of Green Brick Partners by 467.3% during the fourth quarter. Clearstead Advisors LLC now owns 556 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 458 shares in the last quarter. SBI Securities Co. Ltd. boosted its holdings in shares of Green Brick Partners by 40.9% in the second quarter. SBI Securities Co. Ltd. now owns 593 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 172 shares during the period. Finally, Federated Hermes Inc. grew its position in shares of Green Brick Partners by 195.5% in the third quarter. Federated Hermes Inc. now owns 591 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 391 shares in the last quarter. Hedge funds and other institutional investors own 78.24% of the company’s stock.

About Green Brick Partners

Green Brick Partners, Inc (NASDAQ: GRBK) is a Dallas, Texas–based residential homebuilder and land development company. Founded in 2006, the company acquires, develops and sells residential lots and constructs single‐family detached homes, townhomes and multi‐family rental communities. Green Brick Partners also offers master‐planned community development and delivers improved lot ready capability through its funded land development segment.

Operating across key Sun Belt markets, Green Brick Partners serves homebuyers in the Dallas–Fort Worth metroplex, Greater Houston, Austin and the Atlanta metropolitan area.