Green Brick Partners (NASDAQ:GRBK) Downgraded to Hold at BidaskClub

Green Brick Partners (NASDAQ:GRBK) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Friday, October 19th.

A number of other brokerages have also issued reports on GRBK. Citigroup raised Green Brick Partners from a “neutral” rating to a “buy” rating and boosted their target price for the company from $11.00 to $12.00 in a research report on Thursday, August 9th. Credit Suisse Group started coverage on Green Brick Partners in a research report on Friday, August 24th. They issued a “neutral” rating and a $9.00 target price on the stock.

Shares of Green Brick Partners stock traded down $0.34 on Friday, hitting $8.81. 150,036 shares of the company were exchanged, compared to its average volume of 164,310. Green Brick Partners has a 1-year low of $8.64 and a 1-year high of $12.50. The stock has a market cap of $461.04 million, a P/E ratio of 7.33 and a beta of 1.63.

Green Brick Partners (NASDAQ:GRBK) last released its quarterly earnings data on Tuesday, November 6th. The financial services provider reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.05). Green Brick Partners had a net margin of 5.28% and a return on equity of 14.02%. The business had revenue of $149.99 million during the quarter.

Several institutional investors have recently bought and sold shares of GRBK. Ariel Investments LLC increased its holdings in Green Brick Partners by 61.5% in the second quarter. Ariel Investments LLC now owns 1,718,846 shares of the financial services provider’s stock valued at $16,845,000 after buying an additional 654,853 shares during the last quarter. BlackRock Inc. increased its holdings in Green Brick Partners by 5.5% in the third quarter. BlackRock Inc. now owns 1,506,247 shares of the financial services provider’s stock valued at $15,213,000 after buying an additional 78,685 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Green Brick Partners by 5.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,005,471 shares of the financial services provider’s stock valued at $9,853,000 after buying an additional 49,961 shares during the last quarter. Citadel Advisors LLC purchased a new position in Green Brick Partners in the second quarter valued at $6,500,000. Finally, Millennium Management LLC purchased a new position in Green Brick Partners in the second quarter valued at $2,762,000. 76.30% of the stock is currently owned by institutional investors and hedge funds.

About Green Brick Partners

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, single family, and luxury homes in residential neighborhoods and master planned communities; development and sale of lots for public and large private builders; and land and construction financing business.

See Also: Fiduciary

Receive News & Ratings for Green Brick Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Green Brick Partners and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply