Green Brick Partners (NASDAQ:GRBK) Announces Quarterly Earnings Results, Beats Expectations By $0.11 EPS

Green Brick Partners (NASDAQ:GRBK) posted its quarterly earnings data on Wednesday. The financial services provider reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.11, Briefing.com reports. Green Brick Partners had a net margin of 17.70% and a return on equity of 25.35%. The firm’s revenue was down 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.31 earnings per share.

Green Brick Partners Stock Down 5.1%

GRBK stock traded down $3.99 during midday trading on Wednesday, reaching $74.25. The company had a trading volume of 333,754 shares, compared to its average volume of 214,399. The company has a 50 day moving average of $70.98 and a two-hundred day moving average of $69.12. The company has a current ratio of 7.57, a quick ratio of 0.63 and a debt-to-equity ratio of 0.20. Green Brick Partners has a 1 year low of $50.57 and a 1 year high of $80.97. The company has a market capitalization of $3.23 billion, a P/E ratio of 9.64 and a beta of 1.99.

Hedge Funds Weigh In On Green Brick Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Invesco Ltd. lifted its holdings in shares of Green Brick Partners by 10.7% during the 4th quarter. Invesco Ltd. now owns 300,986 shares of the financial services provider’s stock worth $18,860,000 after acquiring an additional 29,081 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in Green Brick Partners in the fourth quarter valued at about $200,000. State of Tennessee Department of Treasury grew its position in Green Brick Partners by 45.5% during the 4th quarter. State of Tennessee Department of Treasury now owns 13,671 shares of the financial services provider’s stock worth $949,000 after acquiring an additional 4,278 shares during the last quarter. Empowered Funds LLC grew its holdings in Green Brick Partners by 55.4% during the 4th quarter. Empowered Funds LLC now owns 62,187 shares of the financial services provider’s stock worth $3,897,000 after acquiring an additional 22,180 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Green Brick Partners in the fourth quarter worth about $2,228,000. Institutional investors own 78.24% of the company’s stock.

Analysts Set New Price Targets

Separately, BTIG Research started coverage on shares of Green Brick Partners in a report on Monday, December 1st. They issued a “neutral” rating on the stock. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $66.00.

Green Brick Partners Company Profile

Green Brick Partners, Inc (NASDAQ: GRBK) is a Dallas, Texas–based residential homebuilder and land development company. Founded in 2006, the company acquires, develops and sells residential lots and constructs single‐family detached homes, townhomes and multi‐family rental communities. Green Brick Partners also offers master‐planned community development and delivers improved lot ready capability through its funded land development segment.

Operating across key Sun Belt markets, Green Brick Partners serves homebuyers in the Dallas–Fort Worth metroplex, Greater Houston, Austin and the Atlanta metropolitan area.