Bank of America Corp DE Purchases 20,127 Shares of Forestar Group Inc. (NYSE:FOR)

Bank of America Corp DE boosted its position in Forestar Group Inc. (NYSE:FOR - Free Report) by 106.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,035 shares of the oil and gas exploration company's stock after purchasing an additional 20,127 shares during the quarter. Bank of America Corp DE owned about 0.08% of Forestar Group worth $1,012,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. NewEdge Advisors LLC bought a new stake in shares of Forestar Group during the 4th quarter valued at $76,000. SG Americas Securities LLC lifted its position in shares of 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 valued at $148,000 after acquiring an additional 1,731 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of 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 valued at $170,000 after acquiring an additional 602 shares during the period. Mercer Global Advisors Inc. ADV raised its holdings in shares of Forestar Group by 27.8% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 8,535 shares of the oil and gas exploration company's stock worth $221,000 after buying an additional 1,856 shares in the last quarter. Finally, Capula Management Ltd acquired a new position in shares of Forestar Group during the 4th quarter worth $243,000. 35.50% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Forestar Group news, Director Elizabeth Parmer sold 1,460 shares of the company's stock in a transaction dated 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 transaction, the director now owns 3,357 shares of the company's stock, valued at $69,053.49. This represents a 30.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.40% of the company's stock.

Forestar Group Price Performance

Forestar Group stock opened at $19.55 on Friday. 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 52 week low of $18.00 and a 52 week high of $37.21. The stock has a market capitalization of $993.66 million, a P/E ratio of 5.48 and a beta of 1.41. The stock has a fifty day moving average of $19.66 and a 200-day moving average of $23.00.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. BTIG Research lowered their price target on Forestar Group from $36.00 to $29.00 and set a "buy" rating for the company in a report on Monday, April 21st. Wall Street Zen raised Forestar Group from a "sell" rating to a "hold" rating in a report on Wednesday, February 26th.

Forestar Group Company 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.

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