BidaskClub Upgrades Green Brick Partners (NASDAQ:GRBK) to “Hold”

Green Brick Partners (NASDAQ:GRBK) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Tuesday, BidAskClub reports.

Separately, Zacks Investment Research downgraded shares of Haynes International from a “hold” rating to a “sell” rating in a report on Wednesday, May 8th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Green Brick Partners currently has a consensus rating of “Hold” and a consensus target price of $9.57.

NASDAQ:GRBK traded up $0.10 during mid-day trading on Tuesday, hitting $9.54. 62,500 shares of the company’s stock traded hands, compared to its average volume of 72,688. The business has a 50 day simple moving average of $8.85. Green Brick Partners has a 1 year low of $6.65 and a 1 year high of $10.70. The stock has a market capitalization of $465.71 million, a P/E ratio of 6.91 and a beta of 1.48.

Green Brick Partners (NASDAQ:GRBK) last posted its earnings results on Thursday, May 2nd. The financial services provider reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.05. Green Brick Partners had a net margin of 8.05% and a return on equity of 14.21%. The firm had revenue of $168.63 million during the quarter, compared to the consensus estimate of $157.51 million. On average, equities analysts anticipate that Green Brick Partners will post 1.05 EPS for the current year.

In other news, Director Harry Brandler purchased 5,000 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were bought at an average cost of $8.97 per share, with a total value of $44,850.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John R. Farris purchased 7,000 shares of the firm’s stock in a transaction on Thursday, June 27th. The shares were purchased at an average cost of $8.25 per share, for a total transaction of $57,750.00. Following the completion of the purchase, the director now directly owns 106,470 shares in the company, valued at $878,377.50. The disclosure for this purchase can be found here. 52.40% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. Punch & Associates Investment Management Inc. boosted its position in shares of Green Brick Partners by 1.0% in the first quarter. Punch & Associates Investment Management Inc. now owns 1,759,627 shares of the financial services provider’s stock worth $15,397,000 after acquiring an additional 17,857 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Green Brick Partners by 14.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,318,372 shares of the financial services provider’s stock worth $9,545,000 after acquiring an additional 167,526 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Green Brick Partners by 7.8% in the fourth quarter. Geode Capital Management LLC now owns 288,553 shares of the financial services provider’s stock worth $2,089,000 after acquiring an additional 20,795 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Green Brick Partners by 38.5% in the fourth quarter. Bank of America Corp DE now owns 52,436 shares of the financial services provider’s stock worth $380,000 after acquiring an additional 14,568 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Green Brick Partners by 99.4% in the fourth quarter. Bank of New York Mellon Corp now owns 188,101 shares of the financial services provider’s stock worth $1,361,000 after acquiring an additional 93,756 shares during the last quarter. 81.12% of the stock is currently owned by institutional investors.

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, patio homes, single family homes, and luxury homes in residential neighborhoods and master planned communities; development and sale of lots; and land and construction financing business.

Further Reading: Accumulation/Distribution

Analyst Recommendations for Green Brick Partners (NASDAQ:GRBK)

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