Green Brick Partners (NASDAQ:GRBK) Hits New 1-Year High – Here’s What Happened

Green Brick Partners, Inc. (NASDAQ:GRBK) shares hit a new 52-week high on Wednesday . The company traded as high as $84.66 and last traded at $84.59, with a volume of 175387 shares trading hands. The stock had previously closed at $81.58.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on GRBK shares. B. Riley raised their price objective on Green Brick Partners from $62.00 to $78.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Wedbush reaffirmed a “neutral” rating and set a $60.00 price target (up previously from $53.00) on shares of Green Brick Partners in a research report on Monday, August 5th.

Green Brick Partners Stock Up 2.7 %

The firm has a market cap of $3.76 billion, a price-to-earnings ratio of 12.71 and a beta of 1.80. The firm’s 50 day moving average price is $76.78 and its two-hundred day moving average price is $65.10. The company has a debt-to-equity ratio of 0.22, a current ratio of 8.28 and a quick ratio of 0.87.

Green Brick Partners (NASDAQ:GRBK) last announced its earnings results on Wednesday, July 31st. The financial services provider reported $2.32 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.55. Green Brick Partners had a return on equity of 25.42% and a net margin of 17.78%. The company had revenue of $560.63 million for the quarter, compared to the consensus estimate of $501.51 million. During the same period last year, the business posted $1.63 EPS. The company’s revenue was up 22.9% on a year-over-year basis. As a group, sell-side analysts forecast that Green Brick Partners, Inc. will post 8.35 earnings per share for the current fiscal year.

Institutional Trading of Green Brick Partners

Several hedge funds have recently made changes to their positions in GRBK. Blue Trust Inc. purchased a new position in Green Brick Partners during the second quarter worth about $48,000. GAMMA Investing LLC lifted its holdings in shares of Green Brick Partners by 37.4% in the 1st quarter. GAMMA Investing LLC now owns 1,577 shares of the financial services provider’s stock valued at $95,000 after buying an additional 429 shares during the period. nVerses Capital LLC boosted its stake in shares of Green Brick Partners by 1,000.0% in the second quarter. nVerses Capital LLC now owns 2,200 shares of the financial services provider’s stock valued at $126,000 after buying an additional 2,000 shares in the last quarter. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Green Brick Partners in the first quarter valued at approximately $233,000. Finally, SageView Advisory Group LLC purchased a new position in Green Brick Partners in the first quarter worth $242,000. Institutional investors and hedge funds own 78.24% of the company’s stock.

Green Brick Partners Company Profile

Green Brick Partners, Inc is a diversified homebuilding and land development company in the United States. The company operates through three segments: Builder operations Central, Builder operations Southeast, and Land Development. The Builder operations Central segment operates builders in Texas; and the closing and delivery of homes.