B. Riley Increases Green Brick Partners (NASDAQ:GRBK) Price Target to $62.00

Green Brick Partners (NASDAQ:GRBK) had its target price lifted by investment analysts at B. Riley from $59.00 to $62.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. B. Riley’s price target would suggest a potential upside of 9.46% from the company’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.

GRBK has been the topic of several other reports. StockNews.com downgraded shares of Green Brick Partners from a “buy” rating to a “hold” rating in a research report on Sunday, March 17th. Wedbush reissued a “neutral” rating and set a $49.00 price objective on shares of Green Brick Partners in a report on Thursday.

Green Brick Partners Stock Up 2.9 %

NASDAQ:GRBK traded up $1.61 during mid-day trading on Friday, reaching $56.64. The stock had a trading volume of 530,272 shares, compared to its average volume of 326,537. The stock has a market cap of $2.54 billion, a P/E ratio of 8.59 and a beta of 1.73. The business’s 50 day moving average is $55.84 and its 200 day moving average is $51.44. The company has a debt-to-equity ratio of 0.23, a current ratio of 8.70 and a quick ratio of 1.44. Green Brick Partners has a fifty-two week low of $37.31 and a fifty-two week high of $61.62.

Green Brick Partners (NASDAQ:GRBK) last posted its earnings results on Wednesday, May 1st. The financial services provider reported $1.82 EPS for the quarter, topping the consensus estimate of $1.51 by $0.31. Green Brick Partners had a net margin of 17.13% and a return on equity of 24.40%. The company had revenue of $447.34 million during the quarter, compared to the consensus estimate of $440.44 million. During the same period in the previous year, the firm posted $1.37 earnings per share. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, sell-side analysts predict that Green Brick Partners will post 6.77 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Richard S. Press bought 1,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were purchased at an average price of $51.84 per share, for a total transaction of $51,840.00. Following the acquisition, the director now directly owns 88,063 shares of the company’s stock, valued at approximately $4,565,185.92. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 44.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Green Brick Partners

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Pacer Advisors Inc. lifted its position in shares of Green Brick Partners by 76.5% during the 4th quarter. Pacer Advisors Inc. now owns 1,253,421 shares of the financial services provider’s stock worth $65,103,000 after purchasing an additional 543,450 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Green Brick Partners by 11.0% during the fourth quarter. Vanguard Group Inc. now owns 2,403,836 shares of the financial services provider’s stock worth $124,855,000 after buying an additional 237,463 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Green Brick Partners by 30.7% in the third quarter. American Century Companies Inc. now owns 422,869 shares of the financial services provider’s stock valued at $17,553,000 after acquiring an additional 99,240 shares during the period. Qube Research & Technologies Ltd grew its stake in shares of Green Brick Partners by 155.2% in the third quarter. Qube Research & Technologies Ltd now owns 159,387 shares of the financial services provider’s stock worth $6,616,000 after acquiring an additional 96,923 shares during the last quarter. Finally, Lord Abbett & CO. LLC increased its position in Green Brick Partners by 123.1% during the third quarter. Lord Abbett & CO. LLC now owns 149,294 shares of the financial services provider’s stock worth $6,197,000 after acquiring an additional 82,384 shares during the period. 78.24% of the stock is owned by institutional investors and hedge funds.

Green Brick Partners Company Profile

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.