Green Brick Partners (NASDAQ:GRBK) Shares Cross Below Fifty Day Moving Average – Here’s What Happened

Green Brick Partners, Inc. (NASDAQ:GRBK)’s stock price passed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $65.62 and traded as low as $63.29. Green Brick Partners shares last traded at $63.81, with a volume of 210,334 shares changing hands.

Analysts Set New Price Targets

Separately, Zacks Research began coverage on shares of Green Brick Partners in a report on Wednesday, October 28th. They issued a “hold” rating on the stock. Three investment analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, Green Brick Partners currently has a consensus rating of “Hold”.

Green Brick Partners Stock Down 4.1%

The business’s 50 day moving average price is $65.62 and its 200-day moving average price is $69.31. The company has a debt-to-equity ratio of 0.20, a current ratio of 7.57 and a quick ratio of 0.63. The company has a market cap of $2.71 billion, a P/E ratio of 8.29 and a beta of 1.70.

Green Brick Partners (NASDAQ:GRBK) last issued its quarterly earnings data on Wednesday, October 28th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.08). Green Brick Partners had a net margin of 17.70% and a return on equity of 25.35%. The business’s revenue was down 10.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.77 earnings per share. On average, analysts anticipate that Green Brick Partners, Inc. will post 8.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Integrated Wealth Concepts LLC acquired a new position in Green Brick Partners during the 2nd quarter worth about $26,000. Allworth Financial LP acquired a new stake in Green Brick Partners in the 2nd quarter valued at about $27,000. Fiduciary Financial Advisors acquired a new position in shares of Green Brick Partners during the second quarter worth approximately $31,000. Public Employees Retirement System of Ohio acquired a new position in shares of Green Brick Partners during the second quarter worth approximately $50,000. Finally, Fortitude Family Office LLC grew its stake in shares of Green Brick Partners by 2,109.1% during the third quarter. Fortitude Family Office LLC now owns 972 shares of the financial services provider’s stock valued at $64,000 after purchasing an additional 928 shares during the last quarter. 78.24% of the stock is owned by institutional investors.

About Green Brick Partners

Green Brick Partners, Inc. is a homebuilding and land development company that operates through a network of regional builders and real estate businesses. Its activities include acquiring and developing land, constructing homes, and marketing them to homebuyers. The company serves markets in Texas, Georgia, Colorado and Florida. Its homebuilding brands include Trophy Signature Homes, CB JENI Homes, Normandy Homes, Southgate Homes, The Providence Group, Challenger Homes and GHO Homes. Green Brick traces its roots to 2006 and became a publicly traded company in 2014.