B. Riley Boosts Green Brick Partners (NASDAQ:GRBK) Price Target to $62.00

Green Brick Partners (NASDAQ:GRBK) had its price objective boosted by B. Riley from $59.00 to $62.00 in a research note issued to investors on Friday morning, Benzinga reports. B. Riley currently has a neutral rating on the financial services provider’s stock. B. Riley also issued estimates for Green Brick Partners’ Q2 2024 earnings at $1.81 EPS, Q3 2024 earnings at $1.85 EPS and Q4 2024 earnings at $1.86 EPS.

Several other equities analysts have also recently weighed in on the company. StockNews.com cut Green Brick Partners from a buy rating to a hold rating in a research report on Sunday, March 17th. Wedbush reiterated a neutral rating and issued a $49.00 price target on shares of Green Brick Partners in a research report on Thursday.

Green Brick Partners Stock Performance

NASDAQ:GRBK traded down $0.24 during trading hours on Friday, reaching $56.40. The stock had a trading volume of 456,251 shares, compared to its average volume of 337,710. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 8.70. The stock has a 50 day simple moving average of $55.84 and a 200 day simple moving average of $51.53. Green Brick Partners has a 12-month low of $37.31 and a 12-month high of $61.62. The stock has a market cap of $2.53 billion, a P/E ratio of 8.59 and a beta of 1.73.

Green Brick Partners (NASDAQ:GRBK) last released its earnings results on Wednesday, May 1st. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.31. Green Brick Partners had a return on equity of 24.40% and a net margin of 17.13%. The business had revenue of $447.34 million during the quarter, compared to the consensus estimate of $440.44 million. During the same period last year, the business posted $1.37 earnings per share. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. On average, research analysts forecast that Green Brick Partners will post 6.77 EPS for the current fiscal year.

Insider Activity

In other Green Brick Partners news, Director Richard S. Press bought 1,000 shares of Green Brick Partners stock in a transaction that occurred on Friday, March 8th. The stock was acquired at an average cost of $52.41 per share, for a total transaction of $52,410.00. Following the completion of the transaction, the director now directly owns 87,063 shares in the company, valued at $4,562,971.83. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 44.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC raised its position in Green Brick Partners by 5,000.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,020 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 1,000 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of Green Brick Partners during the 4th quarter valued at $60,000. Byrne Asset Management LLC boosted its holdings in shares of Green Brick Partners by 40.4% during the 1st quarter. Byrne Asset Management LLC now owns 1,600 shares of the financial services provider’s stock valued at $96,000 after buying an additional 460 shares in the last quarter. Rocky Mountain Advisers LLC boosted its holdings in shares of Green Brick Partners by 377.5% during the 1st quarter. Rocky Mountain Advisers LLC now owns 1,910 shares of the financial services provider’s stock valued at $115,000 after buying an additional 1,510 shares in the last quarter. Finally, Planned Solutions Inc. bought a new stake in shares of Green Brick Partners during the 4th quarter valued at $123,000. Institutional investors own 78.24% of the company’s stock.

About Green Brick Partners

Green Brick Partners, Inc (NYSE: GRBK), the third largest homebuilder in Dallas-Fort Worth, is a diversified homebuilding and land development company that operates in Texas, Georgia, and Florida. Green Brick owns five subsidiary homebuilders in Texas (CB JENI Homes, Normandy Homes, Southgate Homes, Trophy Signature Homes, and a 90% interest in Centre Living Homes), as well as a controlling interest in a homebuilder in Atlanta, Georgia (The Providence Group) and an 80% interest in a homebuilder in Port St.