Forestar Group Inc (NYSE:FOR) Shares Acquired by Denali Advisors LLC

Denali Advisors LLC boosted its holdings in shares of Forestar Group Inc (NYSE:FOR - Free Report) by 24.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 295,104 shares of the oil and gas exploration company's stock after buying an additional 57,943 shares during the quarter. 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 also recently bought and sold shares of the company. Signaturefd LLC grew its stake in shares of Forestar Group by 119.1% during the 1st quarter. Signaturefd LLC now owns 1,514 shares of the oil and gas exploration company's stock worth $32,000 after purchasing an additional 823 shares during the period. Lazard Asset Management LLC acquired a new stake in Forestar Group in the 4th quarter valued at $38,000. NewEdge Advisors LLC acquired a new stake in Forestar Group in the 4th quarter valued at $76,000. Heck Capital Advisors LLC acquired a new stake in Forestar Group in the 4th quarter valued at $112,000. Finally, Mercer Global Advisors Inc. ADV grew its stake in Forestar Group by 27.8% in the 4th 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 acquiring an additional 1,856 shares during the period. 35.50% of the stock is owned by hedge funds and other institutional investors.

Forestar Group Stock Up 9.4%

FOR traded up $2.07 on Tuesday, reaching $24.15. The company's stock had a trading volume of 441,753 shares, compared to its average volume of 172,663. The stock has a 50 day moving average of $20.44 and a two-hundred day moving average of $21.50. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 7.32 and a beta of 1.40. Forestar Group Inc has a fifty-two week low of $18.00 and a fifty-two week high of $34.82.

Forestar Group (NYSE:FOR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The oil and gas exploration company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.13). Forestar Group had a net margin of 11.45% and a return on equity of 10.65%. The firm had revenue of $390.50 million during the quarter, compared to analyst estimates of $397.50 million. During the same period in the previous year, the company posted $0.76 earnings per share. Forestar Group's revenue was up 22.6% compared to the same quarter last year. As a group, analysts forecast that Forestar Group Inc will post 3.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on FOR shares. JMP Securities started coverage on shares of Forestar Group in a research note on Tuesday, July 15th. They set a "market outperform" rating and a $30.00 target price on the stock. Citizens Jmp started coverage on shares of Forestar Group in a research note on Tuesday, July 15th. They set a "strong-buy" rating and a $30.00 target price on the stock. Citigroup started coverage on shares of Forestar Group in a research note on Tuesday, July 15th. They set an "outperform" rating on the stock. Finally, BTIG Research lowered their target price on shares of Forestar Group from $36.00 to $29.00 and set a "buy" rating on the stock in a research note on Monday, April 21st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Forestar Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.20.

Insider Transactions at Forestar Group

In other Forestar Group news, Director Elizabeth Parmer sold 1,460 shares of the 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 transaction, the director owned 3,357 shares in the company, valued at approximately $69,053.49. This represents a 30.31% decrease in their ownership of the stock. The transaction was disclosed in a legal 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.