Green Brick Partners (NASDAQ:GRBK) Shares Gap Up on Strong Earnings

Green Brick Partners, Inc. (NASDAQ:GRBK) gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $64.43, but opened at $68.00. Green Brick Partners shares last traded at $66.9450, with a volume of 45,737 shares traded.

The financial services provider reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.29. Green Brick Partners had a return on equity of 25.35% and a net margin of 17.70%.During the same period in the prior year, the firm earned $1.98 EPS. The business’s revenue for the quarter was down 4.7% on a year-over-year basis.

Insider Buying and Selling

In related news, COO Jed Dolson sold 20,000 shares of Green Brick Partners stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $66.76, for a total transaction of $1,335,200.00. Following the transaction, the chief operating officer owned 273,605 shares in the company, valued at approximately $18,265,869.80. This trade represents a 6.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 29.70% of the company’s stock.

Hedge Funds Weigh In On Green Brick Partners

A number of institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in Green Brick Partners by 1.5% during the second quarter. Geode Capital Management LLC now owns 757,077 shares of the financial services provider’s stock worth $47,611,000 after buying an additional 11,040 shares in the last quarter. Annex Advisory Services LLC lifted its position in Green Brick Partners by 6.3% during the third quarter. Annex Advisory Services LLC now owns 580,724 shares of the financial services provider’s stock worth $42,892,000 after buying an additional 34,297 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Green Brick Partners by 6.7% during the second quarter. The Manufacturers Life Insurance Company now owns 484,221 shares of the financial services provider’s stock worth $30,448,000 after buying an additional 30,244 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Green Brick Partners by 56.7% during the first quarter. The Manufacturers Life Insurance Company now owns 453,977 shares of the financial services provider’s stock worth $26,471,000 after buying an additional 164,273 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Green Brick Partners by 10.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 438,707 shares of the financial services provider’s stock worth $25,581,000 after buying an additional 41,083 shares in the last quarter. Hedge funds and other institutional investors own 78.24% of the company’s stock.

Green Brick Partners Stock Performance

The company has a quick ratio of 0.63, a current ratio of 7.57 and a debt-to-equity ratio of 0.20. The stock has a market cap of $2.88 billion, a PE ratio of 8.59 and a beta of 1.96. The stock has a 50-day moving average of $70.24 and a 200 day moving average of $64.98.

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.