Green Brick Partners (NASDAQ:GRBK) Sets New 1-Year High at $62.30

Green Brick Partners, Inc. (NASDAQ:GRBK) hit a new 52-week high during trading on Thursday . The company traded as high as $62.30 and last traded at $62.14, with a volume of 676188 shares trading hands. The stock had previously closed at $56.40.

Analysts Set New Price Targets

A number of research firms have weighed in on GRBK. B. Riley lifted their price target on shares of Green Brick Partners from $59.00 to $62.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. StockNews.com cut shares of Green Brick Partners from a “buy” rating to a “hold” rating in a research note on Sunday, March 17th. Finally, Wedbush restated a “neutral” rating and set a $49.00 price target on shares of Green Brick Partners in a research note on Thursday, May 2nd.

Green Brick Partners Stock Up 10.1 %

The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of 9.05 and a beta of 1.80. The company has a debt-to-equity ratio of 0.23, a current ratio of 8.70 and a quick ratio of 1.16. The firm has a 50 day simple moving average of $55.84 and a 200-day simple moving average of $54.71.

Green Brick Partners (NASDAQ:GRBK) last posted its earnings results on Wednesday, May 1st. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.31. The company had revenue of $447.34 million during 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 company’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.37 EPS. On average, sell-side analysts forecast that Green Brick Partners, Inc. will post 7.46 EPS for the current fiscal year.

Insider Buying and Selling

In other Green Brick Partners news, Director Richard S. Press bought 1,474 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was purchased at an average cost of $57.44 per share, with a total value of $84,666.56. Following the completion of the purchase, the director now owns 1,000 shares in the company, valued at $57,440. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Richard S. Press bought 1,474 shares of the company’s stock in a transaction on Monday, May 6th. The shares were purchased at an average cost of $57.44 per share, for a total transaction of $84,666.56. Following the acquisition, the director now owns 1,000 shares of the company’s stock, valued at approximately $57,440. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CFO Richard Arthur Costello sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $56.77, for a total transaction of $2,270,800.00. Following the completion of the transaction, the chief financial officer now owns 52,116 shares of the company’s stock, valued at approximately $2,958,625.32. The disclosure for this sale can be found here. 44.40% of the stock is currently owned by company insiders.

Institutional Trading of Green Brick Partners

Several hedge funds and other institutional investors have recently modified their holdings of GRBK. Nisa Investment Advisors LLC grew its holdings in shares of Green Brick Partners by 5,000.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,020 shares of the financial services provider’s stock worth $53,000 after buying an additional 1,000 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of Green Brick Partners in the fourth quarter valued at approximately $60,000. Byrne Asset Management LLC raised its holdings in shares of Green Brick Partners by 40.4% in the first quarter. Byrne Asset Management LLC now owns 1,600 shares of the financial services provider’s stock valued at $96,000 after purchasing an additional 460 shares during the last quarter. Rocky Mountain Advisers LLC lifted its position in shares of Green Brick Partners by 377.5% in the first quarter. Rocky Mountain Advisers LLC now owns 1,910 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 1,510 shares in the last quarter. Finally, Planned Solutions Inc. acquired a new position in Green Brick Partners during the fourth quarter worth $123,000. Institutional investors and hedge funds own 78.24% of the company’s stock.

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.