Allianz Asset Management GmbH Sells 40,667 Shares of Forestar Group Inc (NYSE:FOR)

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

Other large investors have also modified their holdings of the company. GAMMA Investing LLC raised its stake in shares of Forestar Group by 263,300.0% in the first quarter. GAMMA Investing LLC now owns 13,170 shares of the oil and gas exploration company's stock valued at $278,000 after purchasing an additional 13,165 shares in the last quarter. Lazard Asset Management LLC acquired a new position in shares of Forestar Group in the fourth quarter valued at $38,000. Bank of America Corp DE raised its stake in shares of Forestar Group by 106.4% in the fourth quarter. Bank of America Corp DE now owns 39,035 shares of the oil and gas exploration company's stock valued at $1,012,000 after purchasing an additional 20,127 shares in the last quarter. MQS Management LLC acquired a new position in shares of Forestar Group in the first quarter valued at $379,000. Finally, Two Sigma Advisers LP raised its stake in shares of Forestar Group by 16.1% in the fourth quarter. Two Sigma Advisers LP now owns 104,781 shares of the oil and gas exploration company's stock valued at $2,716,000 after purchasing an additional 14,500 shares in the last quarter. 35.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Forestar Group

In other news, Director Elizabeth Parmer sold 1,460 shares of the firm's 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 completion of the sale, the director directly owned 3,357 shares in the company, valued at approximately $69,053.49. This trade represents a 30.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.40% of the company's stock.

Wall Street Analysts Forecast Growth

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

Forestar Group Price Performance

Forestar Group stock traded down $0.19 during mid-day trading on Thursday, hitting $24.78. 181,469 shares of the company were exchanged, compared to its average volume of 196,319. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.52. The business has a fifty day moving average of $21.21 and a 200 day moving average of $21.51. Forestar Group Inc has a 1-year low of $18.00 and a 1-year high of $34.82. The company has a market capitalization of $1.26 billion, a PE ratio of 7.77 and a beta of 1.40.

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

About Forestar Group

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.