Bank of America Corp DE Has $1.01 Million Stake in Forestar Group Inc. (NYSE:FOR)

Bank of America Corp DE increased its stake in shares of Forestar Group Inc. (NYSE:FOR - Free Report) by 106.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 quarter.

Several other hedge funds have also modified their holdings of the stock. NewEdge Advisors LLC acquired a new stake in Forestar Group in the fourth quarter worth $76,000. SG Americas Securities LLC increased its position in shares of Forestar Group by 43.3% during the fourth quarter. SG Americas Securities LLC now owns 5,727 shares of the oil and gas exploration company's stock worth $148,000 after acquiring an additional 1,731 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Forestar Group by 10.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 6,562 shares of the oil and gas exploration company's stock worth $170,000 after acquiring an additional 602 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its position in shares of Forestar Group by 27.8% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 8,535 shares of the oil and gas exploration company's stock worth $221,000 after acquiring an additional 1,856 shares in the last quarter. Finally, Capula Management Ltd bought a new stake in shares of Forestar Group during the fourth quarter worth $243,000. 35.50% of the stock is owned by institutional investors.

Forestar Group Stock Down 1.4%

Forestar Group stock traded down $0.29 during mid-day trading on Wednesday, reaching $20.39. The company's stock had a trading volume of 182,108 shares, compared to its average volume of 177,581. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 5.71 and a beta of 1.41. Forestar Group Inc. has a 12 month low of $18.00 and a 12 month high of $37.21. The business's 50 day simple moving average is $19.62 and its 200 day simple moving average is $22.86. 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 (NYSE:FOR - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The oil and gas exploration company reported $0.64 EPS for the quarter, missing analysts' consensus estimates of $0.71 by ($0.07). Forestar Group had a net margin of 12.50% and a return on equity of 11.74%. The firm had revenue of $351.00 million during the quarter, compared to the consensus estimate of $379.60 million. As a group, research analysts anticipate that Forestar Group Inc. will post 3.44 earnings per share for the current year.

Analyst Ratings Changes

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

Insider Activity

In other news, Director Elizabeth Parmer sold 1,460 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $20.57, for a total transaction of $30,032.20. Following the completion of the sale, the director now owns 3,357 shares in the company, valued at approximately $69,053.49. This trade represents a 30.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.40% of the company's stock.

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.