Hennessy Advisors Inc. Has $4.82 Million Stake in Forestar Group Inc. (NYSE:FOR)

Hennessy Advisors Inc. trimmed its stake in Forestar Group Inc. (NYSE:FOR - Free Report) by 10.3% in the first 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 period. Hennessy Advisors Inc. owned about 0.45% of Forestar Group worth $4,818,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Lazard Asset Management LLC acquired a new stake in Forestar Group in the fourth quarter valued at $38,000. NewEdge Advisors LLC acquired a new stake in Forestar Group in the fourth quarter valued at $76,000. Heck Capital Advisors LLC acquired a new stake in Forestar Group in the fourth quarter valued at $112,000. EverSource Wealth Advisors LLC increased its holdings in Forestar Group by 10.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 6,562 shares of the oil and gas exploration company's stock valued at $170,000 after purchasing an additional 602 shares during the period. Finally, Mercer Global Advisors Inc. ADV boosted its position in Forestar Group by 27.8% during 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 acquiring an additional 1,856 shares during the last quarter. 35.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FOR has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Forestar Group from a "sell" rating to a "hold" rating in a research report on Wednesday, February 26th. BTIG Research cut their price target on shares of Forestar Group from $36.00 to $29.00 and set a "buy" rating on the stock in a research report on Monday, April 21st.

Forestar Group Stock Performance

Shares of FOR opened at $19.71 on Friday. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $1.00 billion, a P/E ratio of 5.52 and a beta of 1.41. The firm's fifty day simple moving average is $19.62 and its two-hundred day simple moving average is $22.66. Forestar Group Inc. has a 12 month low of $18.00 and a 12 month high of $37.21.

Forestar Group (NYSE:FOR - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The oil and gas exploration company reported $0.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.71 by ($0.07). The company had revenue of $351.00 million for the quarter, compared to the consensus estimate of $379.60 million. Forestar Group had a return on equity of 11.74% and a net margin of 12.50%. As a group, analysts predict that Forestar Group Inc. will post 3.44 EPS for the current year.

Insider Transactions at Forestar Group

In other news, Director Elizabeth Parmer sold 1,460 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $20.57, for a total transaction of $30,032.20. Following the transaction, the director now owns 3,357 shares of the company's stock, valued at $69,053.49. This represents a 30.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.40% of the company's stock.

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.

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