Green Brick Partners Inc (GRBK) Given Consensus Recommendation of “Strong Buy” by Brokerages
Green Brick Partners Inc (NASDAQ:GRBK) has received an average broker rating score of 1.00 (Strong Buy) from the two brokers that cover the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy rating.
Analysts have set a 12 month consensus price target of $11.00 for the company, according to Zacks. Zacks has also given Green Brick Partners an industry rank of 121 out of 255 based on the ratings given to its competitors.
GRBK has been the subject of several analyst reports. Citigroup raised their price target on Green Brick Partners from $11.50 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, June 20th. BidaskClub downgraded Green Brick Partners from a “buy” rating to a “hold” rating in a report on Tuesday, June 26th.
Green Brick Partners (NASDAQ:GRBK) last issued its quarterly earnings results on Monday, August 6th. The financial services provider reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.14. Green Brick Partners had a return on equity of 13.67% and a net margin of 5.09%. The firm had revenue of $155.01 million during the quarter.
In related news, major shareholder Daniel S. Loeb sold 7,140,233 shares of Green Brick Partners stock in a transaction dated Tuesday, June 26th. The stock was sold at an average price of $9.07, for a total value of $64,761,913.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Richard Arthur Costello acquired 6,000 shares of Green Brick Partners stock in a transaction that occurred on Wednesday, June 27th. The stock was acquired at an average price of $9.40 per share, with a total value of $56,400.00. Following the completion of the acquisition, the chief financial officer now directly owns 37,514 shares in the company, valued at approximately $352,631.60. The disclosure for this purchase can be found here. Insiders purchased a total of 60,900 shares of company stock valued at $577,111 over the last quarter. 52.00% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GRBK. Citadel Advisors LLC bought a new stake in Green Brick Partners in the 2nd quarter worth about $6,500,000. Ariel Investments LLC increased its holdings in Green Brick Partners by 61.5% in the 2nd quarter. Ariel Investments LLC now owns 1,718,846 shares of the financial services provider’s stock worth $16,845,000 after buying an additional 654,853 shares in the last quarter. BlackRock Inc. grew its stake in shares of Green Brick Partners by 8.4% during the 2nd quarter. BlackRock Inc. now owns 1,427,562 shares of the financial services provider’s stock valued at $13,991,000 after purchasing an additional 110,038 shares during the period. Monarch Partners Asset Management LLC bought a new stake in shares of Green Brick Partners during the 2nd quarter valued at about $778,000. Finally, Third Avenue Management LLC bought a new stake in shares of Green Brick Partners during the 2nd quarter valued at about $490,000. Institutional investors own 81.67% of the company’s stock.
Green Brick Partners Company Profile
Green Brick Partners, Inc operates as a homebuilding and land development company in the United States. It operates in Builder Operations and Land Development segments. The company is involved in the land acquisition and development, entitlements, design, construction, marketing, and sale of townhomes, single family, and luxury homes in residential neighborhoods and master planned communities; development and sale of lots for public and large private builders; and land and construction financing business.
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