Hennessy Advisors Inc. Sells 26,100 Shares of Forestar Group Inc (NYSE:FOR)

Hennessy Advisors Inc. lessened its position in shares of Forestar Group Inc (NYSE:FOR - Free Report) by 10.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 227,900 shares of the oil and gas exploration company's stock after selling 26,100 shares during the quarter. Hennessy Advisors Inc. owned about 0.45% of Forestar Group worth $4,818,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in Forestar Group by 4.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,721,534 shares of the oil and gas exploration company's stock worth $70,541,000 after purchasing an additional 119,357 shares during the period. American Century Companies Inc. boosted its stake in shares of Forestar Group by 11.3% in the 4th quarter. American Century Companies Inc. now owns 584,222 shares of the oil and gas exploration company's stock valued at $15,143,000 after purchasing an additional 59,427 shares during the last quarter. Bridgeway Capital Management LLC grew its position in shares of Forestar Group by 2.7% during the 4th quarter. Bridgeway Capital Management LLC now owns 481,253 shares of the oil and gas exploration company's stock worth $12,474,000 after buying an additional 12,473 shares during the period. First Eagle Investment Management LLC raised its stake in shares of Forestar Group by 26.4% during the fourth quarter. First Eagle Investment Management LLC now owns 479,669 shares of the oil and gas exploration company's stock worth $12,433,000 after buying an additional 100,100 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Forestar Group by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 473,883 shares of the oil and gas exploration company's stock valued at $12,286,000 after buying an additional 2,038 shares during the period. Institutional investors and hedge funds own 35.50% of the company's stock.

Insider Activity at Forestar Group

In other Forestar Group news, Director Elizabeth Parmer sold 1,460 shares of Forestar Group stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $20.57, for a total transaction of $30,032.20. Following the transaction, the director now directly owns 3,357 shares in the company, valued at approximately $69,053.49. The trade was a 30.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

Forestar Group Trading Up 0.2%

Shares of NYSE:FOR traded up $0.04 during mid-day trading on Wednesday, reaching $19.45. The stock had a trading volume of 54,092 shares, compared to its average volume of 176,924. The firm has a 50 day simple moving average of $19.61 and a two-hundred day simple moving average of $22.52. Forestar Group Inc has a twelve month low of $18.00 and a twelve month high of $37.21. The firm has a market cap of $988.19 million, a PE ratio of 5.89 and a beta of 1.41. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.53.

Forestar Group (NYSE:FOR - Get Free Report) last issued its earnings results on Thursday, April 17th. The oil and gas exploration company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.07). The firm had revenue of $351.00 million during the quarter, compared to the consensus estimate of $379.60 million. Forestar Group had a net margin of 11.45% and a return on equity of 10.65%. On average, research analysts predict that Forestar Group Inc will post 3.44 EPS for the current fiscal year.

About Forestar Group

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.