Green Brick Partners (NASDAQ:GRBK) Reaches New 52-Week High at $78.48

Green Brick Partners, Inc. (NASDAQ:GRBK)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $78.48 and last traded at $78.25, with a volume of 107472 shares trading hands. The stock had previously closed at $75.27.

Wall Street Analysts Forecast Growth

GRBK has been the topic of several research reports. Wedbush restated a “neutral” rating and set a $60.00 price target (up from $53.00) on shares of Green Brick Partners in a report on Monday, August 5th. B. Riley boosted their target price on shares of Green Brick Partners from $62.00 to $78.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd.

Green Brick Partners Stock Performance

The firm has a market capitalization of $3.58 billion, a P/E ratio of 12.10 and a beta of 1.80. The company has a 50-day moving average of $65.71 and a 200-day moving average of $59.11. The company has a current ratio of 8.28, a quick ratio of 1.16 and a debt-to-equity ratio of 0.22.

Green Brick Partners (NASDAQ:GRBK) last issued its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $2.32 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.55. The company had revenue of $560.63 million during the quarter, compared to analysts’ expectations of $501.51 million. Green Brick Partners had a return on equity of 25.42% and a net margin of 17.78%. The business’s quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.63 earnings per share. On average, equities analysts anticipate that Green Brick Partners, Inc. will post 7.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director David Einhorn sold 1,000,000 shares of the company’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $57.80, for a total value of $57,800,000.00. Following the sale, the director now directly owns 1,302,690 shares of the company’s stock, valued at approximately $75,295,482. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 44.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in GRBK. Vanguard Group Inc. boosted its position in shares of Green Brick Partners by 12.8% during the 1st quarter. Vanguard Group Inc. now owns 2,711,140 shares of the financial services provider’s stock valued at $163,292,000 after purchasing an additional 307,304 shares in the last quarter. GSA Capital Partners LLP increased its holdings in Green Brick Partners by 368.0% in the first quarter. GSA Capital Partners LLP now owns 20,160 shares of the financial services provider’s stock worth $1,214,000 after purchasing an additional 15,852 shares in the last quarter. Corient Private Wealth LLC acquired a new position in Green Brick Partners in the fourth quarter valued at approximately $1,095,000. Security National Bank boosted its holdings in shares of Green Brick Partners by 273.8% during the 4th quarter. Security National Bank now owns 20,560 shares of the financial services provider’s stock worth $1,068,000 after buying an additional 15,060 shares in the last quarter. Finally, Hennessy Advisors Inc. grew its position in shares of Green Brick Partners by 44.0% during the 1st quarter. Hennessy Advisors Inc. now owns 138,700 shares of the financial services provider’s stock worth $8,354,000 after buying an additional 42,400 shares during the period. 78.24% of the stock is 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.