Allianz Asset Management GmbH Has $1.67 Million Position in Forestar Group Inc (NYSE:FOR)

Allianz Asset Management GmbH cut its position in shares of Forestar Group Inc (NYSE:FOR - Free Report) by 34.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,108 shares of the oil and gas exploration company's stock after selling 40,667 shares during the period. Allianz Asset Management GmbH owned 0.16% of Forestar Group worth $1,672,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in FOR. Denali Advisors LLC boosted its stake in shares of Forestar Group by 24.4% during the 1st quarter. Denali Advisors LLC now owns 295,104 shares of the oil and gas exploration company's stock worth $6,238,000 after acquiring an additional 57,943 shares in the last quarter. Signaturefd LLC lifted its position in shares of Forestar Group by 119.1% in the 1st quarter. Signaturefd LLC now owns 1,514 shares of the oil and gas exploration company's stock worth $32,000 after acquiring an additional 823 shares during the period. MQS Management LLC bought a new position in shares of Forestar Group during the 1st quarter worth about $379,000. New York State Common Retirement Fund boosted its holdings in Forestar Group by 19.0% during the first quarter. New York State Common Retirement Fund now owns 89,581 shares of the oil and gas exploration company's stock valued at $1,894,000 after purchasing an additional 14,300 shares in the last quarter. Finally, Total Wealth Planning & Management Inc. lifted its holdings in shares of Forestar Group by 66.7% during the first quarter. Total Wealth Planning & Management Inc. now owns 19,111 shares of the oil and gas exploration company's stock valued at $404,000 after acquiring an additional 7,650 shares during the period. 35.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Elizabeth Parmer sold 1,460 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $20.57, for a total value of $30,032.20. Following the transaction, the director owned 3,357 shares of the company's stock, valued at $69,053.49. This represents a 30.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.40% of the company's stock.

Forestar Group Trading Up 1.0%

Shares of FOR stock traded up $0.26 on Friday, reaching $25.06. 238,711 shares of the stock were exchanged, compared to its average volume of 201,141. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.73 and a quick ratio of 0.73. Forestar Group Inc has a one year low of $18.00 and a one year high of $34.82. The stock has a market cap of $1.27 billion, a PE ratio of 7.86 and a beta of 1.39. The stock has a 50 day moving average price of $21.34 and a 200 day moving average price of $21.47.

Forestar Group (NYSE:FOR - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.13). The business had revenue of $390.50 million during the quarter, compared to the consensus estimate of $397.50 million. Forestar Group had a net margin of 10.54% and a return on equity of 10.02%. The firm's revenue for the quarter was up 22.6% compared to the same quarter last year. During the same period last year, the business posted $0.76 EPS. Equities research analysts forecast that Forestar Group Inc will post 3.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on FOR shares. BTIG Research cut their target price on shares of Forestar Group from $36.00 to $29.00 and set a "buy" rating for the company in a research note on Monday, April 21st. Citigroup began coverage on Forestar Group in a research note on Tuesday, July 15th. They issued an "outperform" rating on the stock. JMP Securities set a $30.00 target price on Forestar Group and gave the company a "market outperform" rating in a research note on Tuesday, July 15th. Finally, Citizens Jmp began coverage on shares of Forestar Group in a research report on Tuesday, July 15th. They set an "outperform" rating and a $30.00 price target on the stock. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Forestar Group has a consensus rating of "Moderate Buy" and an average price target of $30.20.

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.