Investors Purchase Large Volume of Call Options on Green Brick Partners (NASDAQ:GRBK)

Green Brick Partners, Inc. (NASDAQ:GRBK) was the target of unusually large options trading activity on Tuesday. Stock traders acquired 2,414 call options on the company. This is an increase of approximately 632% compared to the typical daily volume of 330 call options.

Shares of GRBK opened at $25.25 on Thursday. Green Brick Partners has a one year low of $6.78 and a one year high of $27.40. The company has a 50-day moving average of $21.56 and a two-hundred day moving average of $20.95. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 12.88 and a beta of 1.35. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.22 and a quick ratio of 0.29.

Green Brick Partners (NASDAQ:GRBK) last announced its earnings results on Tuesday, March 9th. The financial services provider reported $0.58 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.05). Green Brick Partners had a return on equity of 17.50% and a net margin of 10.54%. The firm had revenue of $254.10 million during the quarter, compared to analyst estimates of $256.20 million. Analysts anticipate that Green Brick Partners will post 2.29 earnings per share for the current year.

In related news, Director Richard S. Press bought 10,000 shares of the stock in a transaction on Thursday, March 11th. The shares were purchased at an average price of $22.00 per share, with a total value of $220,000.00. Following the purchase, the director now owns 96,281 shares in the company, valued at $2,118,182. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Einhorn bought 850,000 shares of the stock in a transaction on Monday, January 25th. The shares were bought at an average cost of $20.55 per share, for a total transaction of $17,467,500.00. Following the purchase, the director now owns 8,922 shares in the company, valued at approximately $183,347.10. The disclosure for this purchase can be found here. 53.10% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of GRBK. Morgan Stanley lifted its stake in Green Brick Partners by 186.4% in the third quarter. Morgan Stanley now owns 79,899 shares of the financial services provider’s stock valued at $1,286,000 after acquiring an additional 52,000 shares during the last quarter. Salem Investment Counselors Inc. lifted its stake in Green Brick Partners by 37.1% in the fourth quarter. Salem Investment Counselors Inc. now owns 297,970 shares of the financial services provider’s stock valued at $6,841,000 after acquiring an additional 80,685 shares during the last quarter. New York State Common Retirement Fund lifted its stake in Green Brick Partners by 93.1% in the fourth quarter. New York State Common Retirement Fund now owns 81,500 shares of the financial services provider’s stock valued at $1,871,000 after acquiring an additional 39,300 shares during the last quarter. BlackRock Inc. lifted its stake in Green Brick Partners by 47.2% in the third quarter. BlackRock Inc. now owns 3,056,608 shares of the financial services provider’s stock valued at $49,209,000 after acquiring an additional 980,048 shares during the last quarter. Finally, Captrust Financial Advisors lifted its stake in Green Brick Partners by 6.2% in the fourth quarter. Captrust Financial Advisors now owns 14,686 shares of the financial services provider’s stock valued at $337,000 after acquiring an additional 851 shares during the last quarter. Institutional investors and hedge funds own 84.75% of the company’s stock.

Several brokerages have recently issued reports on GRBK. B. Riley lifted their price objective on shares of Green Brick Partners from $29.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, March 11th. Zacks Investment Research raised shares of Green Brick Partners from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Friday, March 12th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $27.40.

About Green Brick Partners

Green Brick Partners, Inc operates as a homebuilding and land development company in the United States. It operates in three segments: Builder operations Central, Builder operations Southeast, and Land development. The company is involved in the land acquisition and development, entitlements, design, construction, title and mortgage services, marketing, and sale of townhomes, patio homes, single family homes, and luxury semi-custom homes in residential neighborhoods and master planned communities; development and sale of lots; and land and construction financing business.

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