Green Brick Partners (NASDAQ:GRBK) Trading Down 8.7% Following Weak Earnings

Shares of Green Brick Partners, Inc. (NASDAQ:GRBK) dropped 8.7% on Thursday following a weaker than expected earnings announcement. The company traded as low as $69.26 and last traded at $69.52. Approximately 151,267 shares were traded during 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 for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.10). The company had revenue of $523.70 million during the quarter, compared to analyst estimates of $539.86 million. Green Brick Partners had a return on equity of 25.42% and a net margin of 17.78%. Green Brick Partners’s quarterly revenue was up 25.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.56 EPS.

Analyst Ratings Changes

Several equities analysts have commented on the company. B. Riley increased their price target on Green Brick Partners from $62.00 to $78.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Wedbush reiterated a “neutral” rating and issued a $60.00 target price (up from $53.00) on shares of Green Brick Partners in a research note on Monday, August 5th.

Hedge Funds Weigh In On Green Brick Partners

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Green Brick Partners by 12.8% in the 1st quarter. Vanguard Group Inc. now owns 2,711,140 shares of the financial services provider’s stock worth $163,292,000 after buying an additional 307,304 shares during the period. GSA Capital Partners LLP raised its stake in Green Brick Partners by 368.0% during the 1st quarter. GSA Capital Partners LLP now owns 20,160 shares of the financial services provider’s stock valued at $1,214,000 after purchasing an additional 15,852 shares during the last quarter. Kennedy Capital Management LLC raised its stake in Green Brick Partners by 83.0% during the 1st quarter. Kennedy Capital Management LLC now owns 87,305 shares of the financial services provider’s stock valued at $5,258,000 after purchasing an additional 39,601 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Green Brick Partners by 22.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 79,697 shares of the financial services provider’s stock valued at $4,562,000 after purchasing an additional 14,376 shares during the period. Finally, Caxton Associates LP acquired a new stake in Green Brick Partners in the 2nd quarter worth $858,000. Institutional investors and hedge funds own 78.24% of the company’s stock.

Green Brick Partners Stock Performance

The firm’s fifty day moving average price is $78.73 and its 200-day moving average price is $66.76. The company has a market cap of $3.07 billion, a P/E ratio of 8.97 and a beta of 1.80. The company has a current ratio of 8.28, a quick ratio of 0.87 and a debt-to-equity ratio of 0.22.

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.