Algert Global LLC Raises Stake in Forestar Group Inc. (NYSE:FOR)

Algert Global LLC lifted its holdings in shares of Forestar Group Inc. (NYSE:FOR - Free Report) by 18.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 97,735 shares of the oil and gas exploration company's stock after purchasing an additional 15,522 shares during the quarter. Algert Global LLC owned about 0.19% of Forestar Group worth $2,533,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in FOR. NewEdge Advisors LLC acquired a new stake in Forestar Group during the 4th quarter worth approximately $76,000. R Squared Ltd acquired a new stake in shares of Forestar Group in the fourth quarter valued at $95,000. Heck Capital Advisors LLC purchased a new position in Forestar Group in the fourth quarter valued at $112,000. SG Americas Securities LLC grew its stake in Forestar Group by 43.3% during the 4th quarter. SG Americas Securities LLC now owns 5,727 shares of the oil and gas exploration company's stock worth $148,000 after purchasing an additional 1,731 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Forestar Group by 10.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 6,562 shares of the oil and gas exploration company's stock worth $170,000 after purchasing an additional 602 shares during the period. Hedge funds and other institutional investors own 35.50% of the company's stock.

Wall Street Analyst Weigh In

FOR has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered their price objective on Forestar Group from $37.00 to $30.00 and set a "neutral" rating for the company in a research report on Tuesday, January 28th. BTIG Research lowered their price target on shares of Forestar Group from $36.00 to $29.00 and set a "buy" rating for the company in a report on Monday, April 21st. Citigroup reduced their price objective on shares of Forestar Group from $39.00 to $32.00 and set a "buy" rating on the stock in a report on Thursday, January 23rd. Finally, StockNews.com upgraded shares of Forestar Group from a "sell" rating to a "hold" rating in a research note on Wednesday, February 26th.

Insider Buying and Selling

In other Forestar Group news, CEO Anthony W. Oxley purchased 4,300 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The stock was purchased at an average price of $23.14 per share, for a total transaction of $99,502.00. Following the purchase, the chief executive officer now directly owns 4,300 shares in the company, valued at approximately $99,502. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.40% of the stock is currently owned by company insiders.

Forestar Group Stock Down 1.4 %

FOR stock traded down $0.28 during midday trading on Friday, reaching $19.71. 123,683 shares of the company were exchanged, compared to its average volume of 174,875. The company has a market cap of $1.00 billion, a price-to-earnings ratio of 5.52 and a beta of 1.46. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.50 and a current ratio of 0.50. Forestar Group Inc. has a 1-year low of $18.00 and a 1-year high of $37.21. The stock's 50-day simple moving average is $20.53 and its 200 day simple moving average is $24.57.

Forestar Group (NYSE:FOR - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The oil and gas exploration company reported $0.64 earnings per share for the quarter, missing analysts' consensus estimates of $0.71 by ($0.07). The company had revenue of $351.00 million during the quarter, compared to analysts' expectations of $379.60 million. Forestar Group had a net margin of 12.50% and a return on equity of 11.74%. On average, equities analysts forecast that Forestar Group Inc. will post 3.44 earnings per share for the current year.

Forestar Group Profile

Forestar Group Inc operates as a residential lot development company in the United States. The company acquires land and develops infrastructure for single-family residential communities. It sells its residential single-family finished lots to local, regional, and national homebuilders. The company was incorporated in 2005 and is headquartered in Arlington, Texas.