Green Brick Partners (NASDAQ:GRBK) Announces Quarterly Earnings Results

Key Points

• Green Brick Partners reported earnings of $1.85 per share for the quarter, missing the consensus estimate of $1.94 by $0.09, while revenue fell 2.1% year-over-year.
• Institutional investors have shown increased interest, with Goldman Sachs raising its stake by 13.2% and AQR Capital Management increasing its stake by 91.5% in the first quarter.
• The company's stock saw a trading volume of 322,921 shares and experienced a decline of $1.83, reaching $63.99 during midday trading on Wednesday.

Green Brick Partners (NASDAQ:GRBK - Get Free Report) posted its quarterly earnings data on Wednesday. The financial services provider reported $1.85 earnings per share for the quarter, missing the consensus estimate of $1.94 by ($0.09), Briefing.com reports. Green Brick Partners had a return on equity of 25.35% and a net margin of 17.70%. The firm's revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter last year, the business posted $2.32 EPS.

Green Brick Partners Stock Performance

GRBK stock traded up $1.91 during midday trading on Friday, hitting $63.85. The company's stock had a trading volume of 483,146 shares, compared to its average volume of 294,907. Green Brick Partners has a 1 year low of $50.57 and a 1 year high of $84.66. The stock has a market cap of $2.78 billion, a price-to-earnings ratio of 8.29 and a beta of 1.83. The stock's 50-day moving average price is $62.70 and its 200 day moving average price is $60.31. The company has a quick ratio of 0.63, a current ratio of 7.57 and a debt-to-equity ratio of 0.20.

Institutional Inflows and Outflows

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

Analyst Ratings Changes

Separately, B. Riley assumed coverage on shares of Green Brick Partners in a research note on Monday, June 30th. They issued a "neutral" rating and a $62.00 target price for the company.

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.