Green Brick Partners (NASDAQ:GRBK) Shares Down 3.8% - Here's Why

Key Points

• Green Brick Partners (NASDAQ:GRBK) shares fell by 3.8% to close at $66.29 with a trading volume significantly below average.
• Analysts maintain a "Hold" rating for the stock, with a consensus price target of $66.00, while the latest EPS report showed a miss of expectations by $0.09.
• Insider activity includes COO Jed Dolson selling 15,000 shares at around $68.76, reducing his stake by approximately 5.48%.

Green Brick Partners, Inc. (NASDAQ:GRBK - Get Free Report) shares were down 3.8% on Thursday . The company traded as low as $65.83 and last traded at $66.29. Approximately 31,202 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 281,775 shares. The stock had previously closed at $68.88.

Wall Street Analysts Forecast Growth

Separately, B. Riley initiated 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 objective on the stock. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, Green Brick Partners presently has a consensus rating of "Hold" and an average price target of $66.00.

Green Brick Partners Stock Performance

The company has a quick ratio of 0.63, a current ratio of 7.57 and a debt-to-equity ratio of 0.20. The stock has a market cap of $2.80 billion, a P/E ratio of 8.33 and a beta of 1.96. The firm's 50-day moving average is $70.29 and its two-hundred day moving average is $63.90.

Green Brick Partners (NASDAQ:GRBK - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.94 by ($0.09). Green Brick Partners had a net margin of 17.70% and a return on equity of 25.35%. The business's revenue was down 2.1% on a year-over-year basis. During the same quarter last year, the business posted $2.32 earnings per share. As a group, research analysts expect that Green Brick Partners, Inc. will post 8.34 EPS for the current year.

Insider Activity

In other news, COO Jed Dolson sold 15,000 shares of the stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $68.76, for a total transaction of $1,031,400.00. Following the transaction, the chief operating officer owned 258,605 shares of the company's stock, valued at approximately $17,781,679.80. This represents a 5.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 29.70% of the company's stock.

Hedge Funds Weigh In On Green Brick Partners

Institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. grew its stake in Green Brick Partners by 3.3% in the 1st quarter. Principal Financial Group Inc. now owns 170,135 shares of the financial services provider's stock valued at $9,921,000 after buying an additional 5,375 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in Green Brick Partners during the 1st quarter valued at approximately $371,000. Charles Schwab Investment Management Inc. grew its holdings in Green Brick Partners by 10.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 438,707 shares of the financial services provider's stock valued at $25,581,000 after buying an additional 41,083 shares during the last quarter. GAMMA Investing LLC increased its position in Green Brick Partners by 36.8% in the 1st quarter. GAMMA Investing LLC now owns 2,400 shares of the financial services provider's stock worth $140,000 after buying an additional 646 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Green Brick Partners by 56.7% during the first quarter. The Manufacturers Life Insurance Company now owns 453,977 shares of the financial services provider's stock worth $26,471,000 after buying an additional 164,273 shares during the last quarter. Institutional investors own 78.24% of the company's stock.

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.

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