Forestar Group Inc $FOR Shares Acquired by Moody Aldrich Partners LLC

Key Points

• Moody Aldrich Partners increased its Forestar Group stake by 44% in the third quarter, acquiring 51,632 additional shares for a total holding of 168,993 shares valued at approximately $4.35 million.
• Institutional investors and hedge funds own 35.5% of Forestar Group, with several other firms also establishing or expanding positions recently.
• Analyst sentiment remains cautious: Forestar has a consensus “Hold” rating and an average price target of $32.67, compared with the stock’s recent opening price of $25.80.

Moody Aldrich Partners LLC boosted its position in Forestar Group Inc (NYSE:FOR - Free Report) by 44.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 168,993 shares of the oil and gas exploration company's stock after acquiring an additional 51,632 shares during the quarter. Moody Aldrich Partners LLC owned 0.33% of Forestar Group worth $4,352,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP acquired a new stake in Forestar Group during the second quarter worth about $33,000. Fifth Third Bancorp acquired a new position in shares of Forestar Group in the 1st quarter valued at about $31,000. New York State Teachers Retirement System acquired a new position in shares of Forestar Group in the 1st quarter valued at about $44,000. Versant Capital Management Inc raised its stake in shares of Forestar Group by 74.0% in the 2nd quarter. Versant Capital Management Inc now owns 2,727 shares of the oil and gas exploration company's stock valued at $86,000 after acquiring an additional 1,160 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Forestar Group by 85.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,424 shares of the oil and gas exploration company's stock valued at $88,000 after acquiring an additional 1,574 shares in the last quarter. Institutional investors and hedge funds own 35.50% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FOR. Weiss Ratings cut shares of Forestar Group from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, October 23rd. Citizens Jmp reiterated a "market outperform" rating and issued a $35.00 price target on shares of Forestar Group in a report on Wednesday, July 22nd. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $32.67.

Forestar Group Stock Performance

Forestar Group stock opened at $25.80 on Thursday. The stock's 50 day moving average price is $26.67 and its 200 day moving average price is $27.45. The firm has a market capitalization of $1.32 billion, a PE ratio of 7.75 and a beta of 1.40. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.44 and a current ratio of 1.44. Forestar Group Inc has a one year low of $22.81 and a one year high of $32.06.

Forestar Group Profile

Forestar Group Inc NYSE: FOR is a residential lot development company that acquires, entitles and develops land for housing construction. The company sells finished and partially developed residential lots to homebuilders, including its majority shareholder, D.R. Horton, as well as other national, regional and local builders.

Forestar's activities generally include identifying land opportunities, obtaining development approvals, installing infrastructure and managing the construction of roads, utilities and other improvements needed for residential communities.

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