Green Brick Partners (NASDAQ:GRBK) Stock Price Down 8.7% on Disappointing Earnings

Green Brick Partners, Inc. (NASDAQ:GRBK)’s stock price was down 8.7% during mid-day trading on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $69.26 and last traded at $69.52. Approximately 151,267 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 387,979 shares. The stock had previously closed at $76.15.

The financial services provider reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.08 by ($0.10). The business had revenue of $523.70 million for the quarter, compared to analysts’ expectations of $539.86 million. Green Brick Partners had a net margin of 17.78% and a return on equity of 25.42%. The business’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.56 earnings per share.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on GRBK shares. Wedbush restated a “neutral” rating and issued a $60.00 price target (up from $53.00) on shares of Green Brick Partners in a report on Monday, August 5th. B. Riley raised their price objective on Green Brick Partners from $62.00 to $78.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd.

Hedge Funds Weigh In On Green Brick Partners

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Green Brick Partners by 11.0% during the fourth quarter. Vanguard Group Inc. now owns 2,403,836 shares of the financial services provider’s stock worth $124,855,000 after purchasing an additional 237,463 shares in the last quarter. Hennion & Walsh Asset Management Inc. purchased a new stake in Green Brick Partners in the first quarter valued at $233,000. Shariaportfolio Inc. lifted its position in Green Brick Partners by 9.4% in the first quarter. Shariaportfolio Inc. now owns 11,420 shares of the financial services provider’s stock valued at $688,000 after buying an additional 985 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in Green Brick Partners by 34.1% in the 1st quarter. BNP Paribas Financial Markets now owns 25,193 shares of the financial services provider’s stock valued at $1,517,000 after purchasing an additional 6,400 shares during the last quarter. Finally, Capstone Investment Advisors LLC raised its holdings in shares of Green Brick Partners by 73.0% in the 1st quarter. Capstone Investment Advisors LLC now owns 15,179 shares of the financial services provider’s stock valued at $914,000 after buying an additional 6,405 shares during the period. 78.24% of the stock is owned by hedge funds and other institutional investors.

Green Brick Partners Price Performance

The company has a quick ratio of 0.87, a current ratio of 8.28 and a debt-to-equity ratio of 0.22. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of 10.65 and a beta of 1.80. The company’s 50-day moving average price is $78.70 and its 200-day moving average price is $66.70.

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.