Green Brick Partners (GRBK) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Green Brick Partners (NASDAQ:GRBK) from a hold rating to a sell rating in a research report sent to investors on Tuesday.

According to Zacks, “Green Brick Partners, Inc. is involved in the land acquisition and development, entitlements, design, construction, marketing and sale of residential projects. It operates primarily in Dallas, Fort Worth, Texas, Atlanta and Georgia. Green Brick Partners, Inc., formerly known as BioFuel Energy Corp, is based in Plano, Texas. “

A number of other research firms have also recently issued reports on GRBK. BidaskClub cut shares of Green Brick Partners from a buy rating to a hold rating in a research report on Friday, October 19th. Citigroup set a $11.00 price objective on shares of Green Brick Partners and gave the company a buy rating in a research report on Thursday, November 8th. TheStreet cut shares of Green Brick Partners from a b rating to a c+ rating in a research report on Wednesday, November 14th. BTIG Research began coverage on shares of Green Brick Partners in a research report on Wednesday, February 6th. They issued a neutral rating and a $9.00 price objective on the stock. Finally, Deutsche Bank began coverage on shares of Green Brick Partners in a research report on Thursday, January 24th. They issued a buy rating and a $10.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. Green Brick Partners currently has an average rating of Hold and a consensus price target of $9.83.

Shares of NASDAQ:GRBK opened at $8.52 on Tuesday. Green Brick Partners has a 52 week low of $6.65 and a 52 week high of $12.50. The firm has a market capitalization of $427.57 million, a P/E ratio of 12.35 and a beta of 1.95.

Several hedge funds have recently added to or reduced their stakes in the business. Diamond Hill Capital Management Inc. purchased a new position in shares of Green Brick Partners in the fourth quarter valued at about $6,201,000. Bank of New York Mellon Corp increased its position in shares of Green Brick Partners by 99.4% during the fourth quarter. Bank of New York Mellon Corp now owns 188,101 shares of the financial services provider’s stock valued at $1,361,000 after buying an additional 93,756 shares during the period. BlackRock Inc. increased its position in shares of Green Brick Partners by 1.2% during the fourth quarter. BlackRock Inc. now owns 1,524,522 shares of the financial services provider’s stock valued at $11,037,000 after buying an additional 18,275 shares during the period. First Trust Advisors LP increased its position in shares of Green Brick Partners by 18.7% during the fourth quarter. First Trust Advisors LP now owns 43,881 shares of the financial services provider’s stock valued at $318,000 after buying an additional 6,903 shares during the period. Finally, Virginia Retirement Systems ET AL increased its position in shares of Green Brick Partners by 58.8% during the fourth quarter. Virginia Retirement Systems ET AL now owns 59,700 shares of the financial services provider’s stock valued at $432,000 after buying an additional 22,100 shares during the period. Hedge funds and other institutional investors own 77.15% of the company’s stock.

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, single family, and luxury homes in residential neighborhoods and master planned communities; development and sale of lots for public and large private builders; and land and construction financing business.

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