Bridgeway Capital Management LLC Cuts Holdings in Forestar Group Inc $FOR

Key Points

• Bridgeway Capital Management LLC significantly reduced its stake in Forestar Group Inc by 67.7%, selling 325,674 shares and holding 155,579 shares worth approximately $3.289 million after the sale.
• Analysts have assigned an average target price of $30.20 for Forestar Group, with several ratings including one Strong Buy, three Buy, and one Hold.
• Forestar Group recently reported $0.65 earnings per share for the previous quarter, missing estimates, while revenues rose 22.6% compared to the same quarter last year.

Bridgeway Capital Management LLC trimmed its position in shares of Forestar Group Inc (NYSE:FOR - Free Report) by 67.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 155,579 shares of the oil and gas exploration company's stock after selling 325,674 shares during the period. Bridgeway Capital Management LLC owned 0.31% of Forestar Group worth $3,289,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in FOR. Hsbc Holdings PLC bought a new position in shares of Forestar Group during the 4th quarter worth $380,000. Price T Rowe Associates Inc. MD boosted its position in Forestar Group by 9.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,021 shares of the oil and gas exploration company's stock worth $338,000 after purchasing an additional 1,076 shares during the period. Northern Trust Corp boosted its position in Forestar Group by 6.1% during the fourth quarter. Northern Trust Corp now owns 217,260 shares of the oil and gas exploration company's stock worth $5,631,000 after purchasing an additional 12,502 shares during the period. AQR Capital Management LLC increased its stake in shares of Forestar Group by 35.2% in the fourth quarter. AQR Capital Management LLC now owns 172,293 shares of the oil and gas exploration company's stock worth $4,466,000 after purchasing an additional 44,885 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its position in shares of Forestar Group by 27.8% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 8,535 shares of the oil and gas exploration company's stock valued at $221,000 after purchasing an additional 1,856 shares during the period. 35.50% of the stock is currently owned by institutional investors.

Forestar Group Price Performance

Shares of FOR traded up $0.80 during mid-day trading on Thursday, reaching $28.42. 136,446 shares of the stock traded hands, compared to its average volume of 142,404. The firm has a fifty day moving average price of $25.62 and a 200 day moving average price of $22.18. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 8.91 and a beta of 1.43. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.52. Forestar Group Inc has a 1 year low of $18.00 and a 1 year high of $34.82.

Forestar Group (NYSE:FOR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The oil and gas exploration company reported $0.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.78 by ($0.13). Forestar Group had a return on equity of 10.02% and a net margin of 10.54%.The business had revenue of $390.50 million during the quarter, compared to analysts' expectations of $397.50 million. During the same quarter last year, the business posted $0.76 EPS. The company's quarterly revenue was up 22.6% on a year-over-year basis. Forestar Group has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Forestar Group Inc will post 3.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Citigroup started coverage on shares of Forestar Group in a report on Tuesday, July 15th. They issued an "outperform" rating for the company. Citizens Jmp assumed coverage on Forestar Group in a report on Tuesday, July 15th. They issued an "outperform" rating and a $30.00 price target for the company. Finally, JMP Securities set a $30.00 price objective on Forestar Group and gave the company a "market outperform" rating in a research note on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $30.20.

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.