Green Brick Partners (NASDAQ:GRBK) Announces Earnings Results

Key Points

• Earnings beat: Green Brick reported $1.39 EPS vs. $1.19 expected, but revenue fell 5.9% year-over-year and EPS declined from $1.67 in the prior-year quarter.
• Shares fell 4.2% to $67.36 after the release; the company has a $2.91 billion market cap and a low P/E of 8.75 with a 12-month range of $56.64–$80.97.
• High institutional ownership: Institutions hold 78.24% of the stock, with recent stake increases from firms including Goldman Sachs, AQR and RBC.

Green Brick Partners (NASDAQ:GRBK - Get Free Report) released its quarterly earnings data on Wednesday. The financial services provider reported $1.39 earnings per share for the quarter, beating analysts' consensus estimates of $1.19 by $0.20, Briefing.com reports. Green Brick Partners had a net margin of 17.70% and a return on equity of 25.35%. The business's revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.67 earnings per share.

Green Brick Partners Stock Down 4.2%

NASDAQ:GRBK traded down $2.93 on Wednesday, reaching $67.36. 195,107 shares of the stock traded hands, compared to its average volume of 217,654. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of 8.75 and a beta of 1.99. The company has a current ratio of 7.57, a quick ratio of 0.63 and a debt-to-equity ratio of 0.20. Green Brick Partners has a 12 month low of $56.64 and a 12 month high of $80.97. The company's fifty day simple moving average is $68.27 and its 200 day simple moving average is $67.97.

Institutional Trading of Green Brick Partners

A number of institutional investors and hedge funds have recently bought and sold shares of GRBK. Royal Bank of Canada increased its stake in Green Brick Partners by 7.4% during the 1st quarter. Royal Bank of Canada now owns 9,915 shares of the financial services provider's stock valued at $579,000 after purchasing an additional 683 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Green Brick Partners by 91.5% in the first quarter. AQR Capital Management LLC now owns 20,091 shares of the financial services provider's stock worth $1,172,000 after acquiring an additional 9,597 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Green Brick Partners by 13.2% in the first quarter. Goldman Sachs Group Inc. now owns 270,236 shares of the financial services provider's stock worth $15,757,000 after acquiring an additional 31,547 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Green Brick Partners by 7.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 65,597 shares of the financial services provider's stock worth $3,825,000 after acquiring an additional 4,763 shares during the period. Finally, CW Advisors LLC bought a new stake in shares of Green Brick Partners in the second quarter worth approximately $223,000. 78.24% of the stock is currently 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.

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