Q2 2024 EPS Estimates for Green Brick Partners, Inc. Lifted by B. Riley (NASDAQ:GRBK)

Green Brick Partners, Inc. (NASDAQ:GRBK) – Stock analysts at B. Riley upped their Q2 2024 earnings estimates for shares of Green Brick Partners in a research report issued to clients and investors on Friday, May 3rd. B. Riley analyst A. Rygiel now anticipates that the financial services provider will earn $1.81 per share for the quarter, up from their previous estimate of $1.65. B. Riley currently has a “Neutral” rating and a $62.00 price target on the stock. The consensus estimate for Green Brick Partners’ current full-year earnings is $6.77 per share. B. Riley also issued estimates for Green Brick Partners’ Q3 2024 earnings at $1.85 EPS and Q4 2024 earnings at $1.86 EPS.

GRBK has been the subject of a number of other reports. Wedbush reiterated a “neutral” rating and set a $49.00 price target on shares of Green Brick Partners in a report on Thursday, May 2nd. StockNews.com lowered shares of Green Brick Partners from a “buy” rating to a “hold” rating in a research report on Sunday, March 17th.

Green Brick Partners Price Performance

Shares of NASDAQ:GRBK opened at $56.18 on Monday. The company has a market cap of $2.52 billion, a price-to-earnings ratio of 8.53 and a beta of 1.73. The business has a 50 day moving average price of $55.80 and a 200 day moving average price of $51.78. The company has a quick ratio of 1.16, a current ratio of 8.70 and a debt-to-equity ratio of 0.23. Green Brick Partners has a twelve month low of $37.31 and a twelve month high of $61.62.

Green Brick Partners (NASDAQ:GRBK) last released its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.31. The company had revenue of $447.34 million during the quarter, compared to analysts’ expectations of $440.44 million. Green Brick Partners had a net margin of 17.13% and a return on equity of 24.40%. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.37 earnings per share.

Insider Buying and Selling at Green Brick Partners

In related news, CFO Richard Arthur Costello sold 40,000 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $56.77, for a total value of $2,270,800.00. Following the sale, the chief financial officer now owns 52,116 shares of the company’s stock, valued at $2,958,625.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Richard Arthur Costello sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $56.77, for a total value of $2,270,800.00. Following the sale, the chief financial officer now directly owns 52,116 shares in the company, valued at approximately $2,958,625.32. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard S. Press bought 1,000 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was bought at an average cost of $52.41 per share, with a total value of $52,410.00. Following the completion of the acquisition, the director now owns 87,063 shares in the company, valued at approximately $4,562,971.83. The disclosure for this purchase can be found here. Insiders own 44.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Green Brick Partners by 10.1% during the 3rd quarter. Vanguard Group Inc. now owns 2,166,373 shares of the financial services provider’s stock valued at $89,926,000 after purchasing an additional 199,471 shares during the last quarter. Lord Abbett & CO. LLC grew its stake in Green Brick Partners by 123.1% during the third quarter. Lord Abbett & CO. LLC now owns 149,294 shares of the financial services provider’s stock worth $6,197,000 after buying an additional 82,384 shares during the last quarter. Graham Capital Management L.P. bought a new stake in Green Brick Partners during the third quarter worth about $1,229,000. GAMMA Investing LLC bought a new stake in Green Brick Partners during the fourth quarter worth about $60,000. Finally, Qube Research & Technologies Ltd grew its stake in Green Brick Partners by 155.2% during the third quarter. Qube Research & Technologies Ltd now owns 159,387 shares of the financial services provider’s stock worth $6,616,000 after buying an additional 96,923 shares during the last quarter. 78.24% of the stock is owned by institutional investors.

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.