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 research note published on Thursday morning, Benzinga reports. The brokerage currently has a $49.00 price target on the financial services provider’s stock.

Several other analysts have also recently weighed in on the stock. B. Riley lifted their price objective on shares of Green Brick Partners from $55.00 to $59.00 and gave the stock a neutral rating in a research note on Monday, March 4th. StockNews.com cut Green Brick Partners from a buy rating to a hold rating in a research note on Sunday, March 17th.

Green Brick Partners Stock Up 2.9 %

Shares of GRBK opened at $56.64 on Thursday. The firm’s 50-day simple moving average is $55.84 and its 200 day simple moving average is $51.53. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.44 and a current ratio of 8.70. The firm has a market cap of $2.54 billion, a P/E ratio of 8.59 and a beta of 1.73. Green Brick Partners has a 52 week low of $37.31 and a 52 week high of $61.62.

Green Brick Partners (NASDAQ:GRBK) last announced its earnings results on Wednesday, May 1st. The financial services provider reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.31. The company had revenue of $447.34 million for the quarter, compared to analyst estimates 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 quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.37 earnings per share. On average, analysts forecast that Green Brick Partners will post 6.77 earnings per share for the current year.

Insider Activity

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

Institutional Trading of Green Brick Partners

Several hedge funds and other institutional investors have recently made changes to their positions in GRBK. GSA Capital Partners LLP raised its position in shares of Green Brick Partners by 368.0% in the 1st quarter. GSA Capital Partners LLP now owns 20,160 shares of the financial services provider’s stock worth $1,214,000 after acquiring an additional 15,852 shares in the last quarter. Capstone Investment Advisors LLC increased its stake in shares of Green Brick Partners by 73.0% in the 1st quarter. Capstone Investment Advisors LLC now owns 15,179 shares of the financial services provider’s stock valued at $914,000 after acquiring an additional 6,405 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Green Brick Partners by 34.1% during the 1st quarter. BNP Paribas Financial Markets now owns 25,193 shares of the financial services provider’s stock valued at $1,517,000 after acquiring an additional 6,400 shares during the period. Shariaportfolio Inc. raised its holdings in shares of Green Brick Partners by 9.4% during the first quarter. Shariaportfolio Inc. now owns 11,420 shares of the financial services provider’s stock valued at $688,000 after purchasing an additional 985 shares during the period. Finally, Argent Capital Management LLC boosted its position in shares of Green Brick Partners by 12.5% during the 1st quarter. Argent Capital Management LLC now owns 11,825 shares of the financial services provider’s stock worth $712,000 after purchasing an additional 1,318 shares in the last quarter. 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.