Green Brick Partners (NASDAQ:GRBK) Posts Quarterly Earnings Results, Beats Estimates By $0.31 EPS

Green Brick Partners (NASDAQ:GRBK) posted its quarterly earnings results on Wednesday. The financial services provider reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.31, Briefing.com reports. Green Brick Partners had a return on equity of 25.35% and a net margin of 17.70%.During the same quarter in the prior year, the business posted $1.85 earnings per share. Green Brick Partners’s quarterly revenue was down 10.1% compared to the same quarter last year.

Green Brick Partners Stock Performance

Green Brick Partners stock traded down $2.19 during mid-day trading on Wednesday, reaching $71.44. The company’s stock had a trading volume of 237,345 shares, compared to its average volume of 230,274. The firm’s fifty day moving average price is $72.47 and its two-hundred day moving average price is $70.57. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.63 and a current ratio of 7.57. Green Brick Partners has a 12-month low of $60.44 and a 12-month high of $83.18. The company has a market capitalization of $3.08 billion, a P/E ratio of 9.28 and a beta of 1.79.

Analysts Set New Price Targets

Separately, Citizens Jmp restated a “market perform” rating on shares of Green Brick Partners in a research note on Tuesday, May 19th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Green Brick Partners has an average rating of “Hold”.

Hedge Funds Weigh In On Green Brick Partners

A number of large investors have recently made changes to their positions in the stock. Boston Partners bought a new stake in shares of Green Brick Partners during the 3rd quarter valued at $13,883,000. Norges Bank purchased a new stake in Green Brick Partners during the 4th quarter worth about $5,352,000. Dimensional Fund Advisors LP boosted its stake in Green Brick Partners by 5.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,656,806 shares of the financial services provider’s stock worth $103,817,000 after purchasing an additional 80,517 shares during the period. Millennium Management LLC boosted its stake in Green Brick Partners by 959.2% in the 3rd quarter. Millennium Management LLC now owns 70,286 shares of the financial services provider’s stock worth $5,191,000 after purchasing an additional 63,650 shares during the period. Finally, 4D Advisors LLC purchased a new position in Green Brick Partners during the 3rd quarter valued at about $3,693,000. 78.24% of the stock is owned by institutional investors.

About Green Brick Partners

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.