Wedbush Reiterates Neutral Rating for Green Brick Partners (NASDAQ:GRBK)

Wedbush reaffirmed their neutral rating on shares of Green Brick Partners (NASDAQ:GRBK) in a research report released on Monday morning, RTT News reports. They currently have a $60.00 target price on the financial services provider’s stock, up from their prior target price of $53.00.

Separately, B. Riley boosted their target price on shares of Green Brick Partners from $62.00 to $78.00 and gave the company a neutral rating in a research report on Friday.

Green Brick Partners Stock Performance

GRBK stock traded up $0.82 during midday trading on Monday, reaching $70.01. 357,128 shares of the company were exchanged, compared to its average volume of 407,978. The business has a 50-day moving average price of $60.83 and a two-hundred day moving average price of $57.09. The firm has a market capitalization of $3.15 billion, a price-to-earnings ratio of 10.74 and a beta of 1.80. Green Brick Partners has a one year low of $37.31 and a one year high of $78.39. The company has a debt-to-equity ratio of 0.22, a current ratio of 8.28 and a quick ratio of 1.16.

Green Brick Partners (NASDAQ:GRBK) last announced its earnings results on Wednesday, July 31st. The financial services provider reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.55. The company had revenue of $560.63 million during the quarter, compared to analysts’ expectations of $501.51 million. Green Brick Partners had a net margin of 17.78% and a return on equity of 25.42%. Green Brick Partners’s quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.63 earnings per share. Equities research analysts forecast that Green Brick Partners will post 7.46 EPS for the current year.

Insider Activity at Green Brick Partners

In related news, Director David Einhorn sold 1,000,000 shares of the business’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $57.80, for a total value of $57,800,000.00. Following the completion of the transaction, the director now owns 1,302,690 shares of the company’s stock, valued at $75,295,482. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 44.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Green Brick Partners by 12.8% in the first quarter. Vanguard Group Inc. now owns 2,711,140 shares of the financial services provider’s stock valued at $163,292,000 after purchasing an additional 307,304 shares in the last quarter. Salem Investment Counselors Inc. raised its stake in Green Brick Partners by 0.8% during the second quarter. Salem Investment Counselors Inc. now owns 743,183 shares of the financial services provider’s stock worth $42,540,000 after acquiring an additional 6,045 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Green Brick Partners by 6.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 511,482 shares of the financial services provider’s stock worth $30,808,000 after acquiring an additional 32,373 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Green Brick Partners by 3.9% during the second quarter. Bank of New York Mellon Corp now owns 234,357 shares of the financial services provider’s stock worth $13,415,000 after acquiring an additional 8,898 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Green Brick Partners by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 214,490 shares of the financial services provider’s stock worth $11,141,000 after acquiring an additional 9,556 shares in the last quarter. Institutional investors and hedge funds own 78.24% of the company’s stock.

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.