Millennium Management LLC Cuts Stock Holdings in Forestar Group Inc. (NYSE:FOR)

Millennium Management LLC cut its holdings in Forestar Group Inc. (NYSE:FOR - Free Report) by 24.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 324,477 shares of the oil and gas exploration company's stock after selling 104,808 shares during the quarter. Millennium Management LLC owned about 0.64% of Forestar Group worth $8,410,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in FOR. Dimensional Fund Advisors LP grew its stake in Forestar Group by 4.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,721,534 shares of the oil and gas exploration company's stock valued at $70,541,000 after buying an additional 119,357 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Forestar Group by 406.1% during the 4th quarter. Janus Henderson Group PLC now owns 125,408 shares of the oil and gas exploration company's stock worth $3,247,000 after purchasing an additional 100,629 shares in the last quarter. First Eagle Investment Management LLC increased its position in shares of Forestar Group by 26.4% in 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 purchasing an additional 100,100 shares during the period. Crestline Management LP acquired a new stake in shares of Forestar Group during the 4th quarter worth approximately $2,333,000. Finally, First Trust Advisors LP boosted its holdings in shares of Forestar Group by 197.8% in the 4th quarter. First Trust Advisors LP now owns 128,989 shares of the oil and gas exploration company's stock valued at $3,343,000 after purchasing an additional 85,669 shares in the last quarter. 35.50% of the stock is owned by institutional investors.

Insider Buying and Selling at Forestar Group

In other Forestar Group news, Director Elizabeth Parmer sold 1,460 shares of the company's stock in a transaction 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 transaction, the director now owns 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 filing with the SEC, which is accessible through this hyperlink. Insiders own 0.40% of the company's stock.

Wall Street Analyst Weigh In

FOR has been the subject of several recent research reports. Wall Street Zen raised Forestar Group from a "sell" rating to a "hold" rating in a research note on Wednesday, February 26th. BTIG Research decreased their target price on shares of Forestar Group from $36.00 to $29.00 and set a "buy" rating for the company in a research report on Monday, April 21st.

Forestar Group Trading Down 1.4%

FOR stock traded down $0.28 during mid-day trading on Friday, reaching $19.07. The company's stock had a trading volume of 13,526 shares, compared to its average volume of 175,220. Forestar Group Inc. has a 12 month low of $18.00 and a 12 month high of $37.21. 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 business's 50 day moving average price is $19.89 and its 200 day moving average price is $23.45. The company has a market cap of $969.21 million, a price-to-earnings ratio of 5.34 and a beta of 1.46.

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 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. On average, equities research analysts predict that Forestar Group Inc. will post 3.44 EPS for the current year.

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.