Green Brick Partners (NASDAQ:GRBK) Announces Quarterly Earnings Results, Misses Expectations By $0.09 EPS

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) issued its quarterly earnings results on Wednesday. The financial services provider reported $1.85 EPS for the quarter, missing the consensus estimate of $1.94 by ($0.09), Briefing.com reports. Green Brick Partners had a net margin of 17.70% and a return on equity of 25.35%. Green Brick Partners's quarterly revenue was down 2.1% on a year-over-year basis. During the same period last year, the firm earned $2.32 EPS.

Green Brick Partners Stock Performance

NASDAQ:GRBK traded up $1.91 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 one year low of $50.57 and a one year high of $84.66. The firm has a market capitalization of $2.80 billion, a P/E ratio of 8.29 and a beta of 1.85. The stock has a fifty day moving average of $62.60 and a two-hundred day moving average of $60.27. The company has a current ratio of 7.57, a quick ratio of 0.63 and a debt-to-equity ratio of 0.20.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Green Brick Partners by 7.8% in 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 acquiring an additional 4,763 shares during the period. Goldman Sachs Group Inc. increased its holdings 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 valued at $15,757,000 after purchasing an additional 31,547 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Green Brick Partners by 91.5% during the 1st quarter. AQR Capital Management LLC now owns 20,091 shares of the financial services provider's stock worth $1,172,000 after buying an additional 9,597 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in shares of 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 worth $579,000 after buying an additional 683 shares during the last quarter. 78.24% of the stock is currently owned by institutional investors.

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.