Green Brick Partners (NASDAQ:GRBK) Price Target Increased to $62.00 by Analysts at B. Riley

Green Brick Partners (NASDAQ:GRBK) had its target price lifted by B. Riley from $59.00 to $62.00 in a report issued on Friday morning, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock. B. Riley also issued estimates for Green Brick Partners’ Q2 2024 earnings at $1.81 EPS, Q3 2024 earnings at $1.85 EPS and Q4 2024 earnings at $1.86 EPS.

A number of other research analysts have also recently weighed in on GRBK. Wedbush reiterated a neutral rating and issued a $49.00 target price on shares of Green Brick Partners in a research note on Thursday. StockNews.com lowered shares of Green Brick Partners from a buy rating to a hold rating in a report on Sunday, March 17th.

Green Brick Partners Stock Performance

Shares of GRBK stock traded down $0.24 on Friday, reaching $56.40. The stock had a trading volume of 456,251 shares, compared to its average volume of 337,710. The company has a quick ratio of 1.16, a current ratio of 8.70 and a debt-to-equity ratio of 0.23. The firm’s 50-day moving average is $55.84 and its two-hundred day moving average is $51.53. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of 8.59 and a beta of 1.73. Green Brick Partners has a 12 month low of $37.31 and a 12 month high of $61.62.

Green Brick Partners (NASDAQ:GRBK) last announced its earnings results on Wednesday, May 1st. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.31. The firm had revenue of $447.34 million for the quarter, compared to analyst estimates of $440.44 million. Green Brick Partners had a net margin of 17.13% and a return on equity of 24.40%. The business’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.37 EPS. On average, research analysts expect that Green Brick Partners will post 6.77 EPS for the current fiscal year.

Insider Activity at Green Brick Partners

In other news, Director Richard S. Press acquired 1,000 shares of Green Brick Partners stock in a transaction on Friday, March 8th. The stock was acquired at an average cost of $52.41 per share, for a total transaction of $52,410.00. Following the purchase, the director now owns 87,063 shares in the company, valued at $4,562,971.83. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 44.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Green Brick Partners

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Texas Permanent School Fund Corp grew its stake in shares of Green Brick Partners by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 22,240 shares of the financial services provider’s stock worth $1,340,000 after acquiring an additional 288 shares during the period. Jennison Associates LLC lifted its holdings in shares of Green Brick Partners by 2.2% in the third quarter. Jennison Associates LLC now owns 17,882 shares of the financial services provider’s stock worth $742,000 after buying an additional 381 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Green Brick Partners by 37.4% in the first quarter. GAMMA Investing LLC now owns 1,577 shares of the financial services provider’s stock worth $95,000 after buying an additional 429 shares in the last quarter. Byrne Asset Management LLC lifted 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 worth $96,000 after buying an additional 460 shares in the last quarter. Finally, Shariaportfolio Inc. lifted its holdings in shares of Green Brick Partners by 9.4% in the first quarter. Shariaportfolio Inc. now owns 11,420 shares of the financial services provider’s stock worth $688,000 after buying an additional 985 shares in the last quarter. 78.24% of the stock is currently owned by institutional investors.

About Green Brick Partners

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.