Denali Advisors LLC raised its holdings in shares of Forestar Group Inc (NYSE:FOR - Free Report) by 24.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 295,104 shares of the oil and gas exploration company's stock after purchasing an additional 57,943 shares during the period. Denali Advisors LLC owned 0.58% of Forestar Group worth $6,238,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Signaturefd LLC boosted its holdings 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 valued at $32,000 after buying an additional 823 shares in the last quarter. MQS Management LLC bought a new stake in shares of Forestar Group in the 1st quarter valued at about $379,000. New York State Common Retirement Fund boosted its holdings in shares of Forestar Group by 19.0% in the 1st 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 buying an additional 14,300 shares in the last quarter. Total Wealth Planning & Management Inc. boosted its holdings in shares of Forestar Group by 66.7% in the 1st 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 buying an additional 7,650 shares in the last quarter. Finally, CWA Asset Management Group LLC boosted its holdings in shares of Forestar Group by 35.8% in the 1st quarter. CWA Asset Management Group LLC now owns 26,315 shares of the oil and gas exploration company's stock valued at $556,000 after buying an additional 6,941 shares in the last quarter. Hedge funds and other institutional investors own 35.50% of the company's stock.
Forestar Group Stock Performance
FOR stock traded down $0.19 during trading on Friday, reaching $21.87. The company had a trading volume of 184,016 shares, compared to its average volume of 171,926. The firm has a 50-day simple moving average of $20.34 and a 200-day simple moving average of $21.54. The company has a market cap of $1.11 billion, a price-to-earnings ratio of 6.63 and a beta of 1.40. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.73 and a current ratio of 0.73. Forestar Group Inc has a twelve month low of $18.00 and a twelve month high of $34.82.
Forestar Group (NYSE:FOR - Get Free Report) last released its earnings results 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). The company had revenue of $351.00 million during the quarter, compared to analyst estimates of $379.60 million. Forestar Group had a return on equity of 10.65% and a net margin of 11.45%. As a group, sell-side analysts expect that Forestar Group Inc will post 3.44 earnings per share for the current year.
Insider Buying and Selling
In other Forestar Group news, Director Elizabeth Parmer sold 1,460 shares of Forestar Group stock in a transaction that occurred on 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 directly owned 3,357 shares in the company, valued at approximately $69,053.49. The trade was a 30.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.40% of the company's stock.
Analysts Set New Price Targets
A number of analysts have recently weighed in on FOR shares. BTIG Research lowered their price target on shares of Forestar Group from $36.00 to $29.00 and set a "buy" rating on the stock in a report on Monday, April 21st. JMP Securities set a $30.00 price target on shares of Forestar Group and gave the company a "market outperform" rating in a report on Tuesday, July 15th. Citizens Jmp started coverage on shares of Forestar Group in a report on Tuesday, July 15th. They issued a "strong-buy" rating and a $30.00 price target on the stock. Finally, Citigroup started coverage on shares of Forestar Group in a report on Tuesday, July 15th. They issued an "outperform" rating on the stock. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Forestar Group presently has an average rating of "Moderate Buy" and an average target price of $30.20.
Read Our Latest Stock Report on Forestar Group
About Forestar Group
(
Free Report)
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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