Green Brick Partners (NASDAQ:GRBK) Hits New 12-Month High at $11.99

Green Brick Partners Inc (NASDAQ:GRBK) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $11.99 and last traded at $11.95, with a volume of 1095 shares changing hands. The stock had previously closed at $11.71.

A number of brokerages have issued reports on GRBK. BidaskClub raised Green Brick Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, January 8th. TheStreet raised Green Brick Partners from a “c” rating to a “b-” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. lowered Green Brick Partners from a “neutral” rating to an “underweight” rating and set a $11.00 target price on the stock. in a research report on Monday, December 9th. BTIG Research raised Green Brick Partners from a “neutral” rating to a “buy” rating and set a $13.00 target price on the stock in a research report on Monday, September 23rd. Finally, Zacks Investment Research lowered Green Brick Partners from a “strong-buy” rating to a “sell” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $11.50.

The company has a market cap of $577.08 million, a P/E ratio of 8.74 and a beta of 1.23. The company has a 50 day moving average price of $11.42 and a 200-day moving average price of $10.35. The company has a quick ratio of 0.80, a current ratio of 8.93 and a debt-to-equity ratio of 0.46.

Green Brick Partners (NASDAQ:GRBK) last released its quarterly earnings results on Thursday, November 7th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.06. Green Brick Partners had a return on equity of 12.05% and a net margin of 7.51%. The company had revenue of $209.40 million during the quarter, compared to analysts’ expectations of $174.00 million. On average, research analysts expect that Green Brick Partners Inc will post 1.08 earnings per share for the current fiscal year.

In other news, Director Kathleen Olsen sold 4,000 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $11.27, for a total value of $45,080.00. Following the completion of the transaction, the director now owns 57,164 shares of the company’s stock, valued at $644,238.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 52.40% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Green Brick Partners by 8.8% during the second quarter. BlackRock Inc. now owns 1,600,725 shares of the financial services provider’s stock valued at $13,302,000 after buying an additional 129,445 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Green Brick Partners by 3.9% during the 2nd quarter. Vanguard Group Inc. now owns 1,204,138 shares of the financial services provider’s stock valued at $10,006,000 after acquiring an additional 45,698 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Green Brick Partners by 3.7% during the 2nd quarter. Northern Trust Corp now owns 279,449 shares of the financial services provider’s stock valued at $2,322,000 after acquiring an additional 9,847 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Green Brick Partners by 4,546.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 261,641 shares of the financial services provider’s stock valued at $2,800,000 after acquiring an additional 256,010 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Green Brick Partners by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 201,396 shares of the financial services provider’s stock valued at $1,674,000 after acquiring an additional 4,445 shares during the last quarter. 82.35% of the stock is owned by institutional investors.

About Green Brick Partners (NASDAQ:GRBK)

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, patio homes, single family homes, and luxury homes in residential neighborhoods and master planned communities; development and sale of lots; and land and construction financing business.

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