Green Brick Partners (NASDAQ:GRBK) Stock Price Down 8.7% After Earnings Miss

Green Brick Partners, Inc. (NASDAQ:GRBK) shares were down 8.7% on Thursday following a dissappointing earnings announcement. The company traded as low as $69.26 and last traded at $69.52. Approximately 151,267 shares were traded during trading, a decline of 61% from the average daily volume of 387,979 shares. The stock had previously closed at $76.15.

The financial services provider reported $1.98 earnings per share for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.10). The business had revenue of $523.70 million during the quarter, compared to analyst estimates of $539.86 million. Green Brick Partners had a net margin of 17.70% and a return on equity of 26.06%. The business’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.56 earnings per share.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Green Brick Partners

Institutional investors and hedge funds have recently modified their holdings of the business. Lakewood Asset Management LLC raised its position in shares of Green Brick Partners by 2.2% during the 2nd quarter. Lakewood Asset Management LLC now owns 7,526 shares of the financial services provider’s stock valued at $431,000 after acquiring an additional 160 shares during the last quarter. Inspire Investing LLC increased its holdings in Green Brick Partners by 3.7% in the second quarter. Inspire Investing LLC now owns 6,129 shares of the financial services provider’s stock valued at $351,000 after purchasing an additional 221 shares during the last quarter. TBH Global Asset Management LLC lifted its stake in Green Brick Partners by 3.2% in the first quarter. TBH Global Asset Management LLC now owns 8,941 shares of the financial services provider’s stock valued at $539,000 after buying an additional 279 shares during the period. Texas Permanent School Fund Corp boosted its holdings in Green Brick Partners by 1.3% during 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 buying an additional 288 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Green Brick Partners by 20.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the financial services provider’s stock worth $147,000 after buying an additional 305 shares during the period. 78.24% of the stock is owned by institutional investors.

Green Brick Partners Price Performance

The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 8.88 and a beta of 1.80. The company has a 50-day moving average price of $78.60 and a 200-day moving average price of $66.78. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.87 and a current ratio of 8.28.

Green Brick Partners Company Profile

Green Brick Partners, Inc is a diversified homebuilding and land development company in the United States. The company operates through three segments: Builder operations Central, Builder operations Southeast, and Land Development. The Builder operations Central segment operates builders in Texas; and the closing and delivery of homes.