Green Brick Partners (NASDAQ:GRBK) Announces Quarterly Earnings Results

Green Brick Partners (NASDAQ:GRBK) posted its earnings results on Thursday. The financial services provider reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.08, Morningstar.com reports. The company had revenue of $183.51 million for the quarter, compared to analyst estimates of $165.00 million. Green Brick Partners had a net margin of 7.66% and a return on equity of 12.72%.

Shares of GRBK stock traded up $0.31 during trading hours on Friday, hitting $9.83. 118,081 shares of the company were exchanged, compared to its average volume of 52,810. The company has a 50 day moving average of $9.22. Green Brick Partners has a 52 week low of $6.65 and a 52 week high of $10.70. The stock has a market cap of $482.43 million, a P/E ratio of 7.18 and a beta of 1.59.

In related news, Director Harry Brandler acquired 5,000 shares of the stock in a transaction dated Tuesday, May 14th. The stock was bought at an average price of $8.97 per share, with a total value of $44,850.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John R. Farris acquired 7,000 shares of the stock in a transaction dated Thursday, June 27th. The shares were bought at an average cost of $8.25 per share, with a total value of $57,750.00. Following the transaction, the director now directly owns 106,470 shares of the company’s stock, valued at $878,377.50. The disclosure for this purchase can be found here. 52.40% of the stock is owned by corporate insiders.



Several hedge funds have recently modified their holdings of GRBK. BNP Paribas Arbitrage SA grew its position in Green Brick Partners by 529.2% in the first quarter. BNP Paribas Arbitrage SA now owns 5,134 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 4,318 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in Green Brick Partners in the second quarter valued at $47,000. Acadian Asset Management LLC acquired a new stake in Green Brick Partners in the second quarter valued at $60,000. Stone Ridge Asset Management LLC acquired a new stake in Green Brick Partners in the second quarter valued at $83,000. Finally, New Amsterdam Partners LLC NY acquired a new stake in Green Brick Partners in the first quarter valued at $117,000. 81.15% of the stock is owned by institutional investors.

Several research firms have weighed in on GRBK. BidaskClub upgraded shares of Green Brick Partners from a “sell” rating to a “hold” rating in a report on Tuesday, July 9th. Zacks Investment Research upgraded shares of Green Brick Partners from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a report on Thursday, July 25th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $9.57.

Green Brick Partners Company Profile

Green Brick Partners, Inc operates as a homebuilding and land development company in the United States. It operates in Builder Operations and Land Development segments. The company is involved in the land acquisition and development, entitlements, design, construction, marketing, and sale of townhomes, patio homes, single family homes, and luxury homes in residential neighborhoods and master planned communities; development and sale of lots; and land and construction financing business.

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Earnings History for Green Brick Partners (NASDAQ:GRBK)

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