MQS Management LLC Makes New Investment in Forestar Group Inc (NYSE:FOR)

MQS Management LLC bought a new position in shares of Forestar Group Inc (NYSE:FOR - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,928 shares of the oil and gas exploration company's stock, valued at approximately $379,000.

Several other large investors have also recently added to or reduced their stakes in the business. New York State Common Retirement Fund lifted its position in Forestar Group by 19.0% during the first quarter. New York State Common Retirement Fund now owns 89,581 shares of the oil and gas exploration company's stock worth $1,894,000 after buying an additional 14,300 shares during the period. Total Wealth Planning & Management Inc. increased its stake in Forestar Group by 66.7% during the first quarter. Total Wealth Planning & Management Inc. now owns 19,111 shares of the oil and gas exploration company's stock worth $404,000 after acquiring an additional 7,650 shares during the last quarter. CWA Asset Management Group LLC increased its stake in Forestar Group by 35.8% during the first quarter. CWA Asset Management Group LLC now owns 26,315 shares of the oil and gas exploration company's stock worth $556,000 after acquiring an additional 6,941 shares during the last quarter. GAMMA Investing LLC increased its stake in Forestar Group by 263,300.0% during the first quarter. GAMMA Investing LLC now owns 13,170 shares of the oil and gas exploration company's stock worth $278,000 after acquiring an additional 13,165 shares during the last quarter. Finally, Heck Capital Advisors LLC acquired a new stake in Forestar Group during the fourth quarter worth about $112,000. 35.50% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Forestar Group news, Director Elizabeth Parmer sold 1,460 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $20.57, for a total transaction of $30,032.20. Following the completion of the sale, the director owned 3,357 shares in the company, valued at $69,053.49. This trade represents a 30.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.40% of the stock is currently owned by company insiders.

Forestar Group Stock Down 0.1%

Shares of NYSE:FOR traded down $0.03 during mid-day trading on Thursday, hitting $22.06. 121,810 shares of the company traded hands, compared to its average volume of 175,315. The firm has a market cap of $1.12 billion, a P/E ratio of 6.69 and a beta of 1.40. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.73 and a current ratio of 0.73. Forestar Group Inc has a 52-week low of $18.00 and a 52-week high of $34.82. The firm's 50 day simple moving average is $20.30 and its 200 day simple moving average is $21.60.

Forestar Group (NYSE:FOR - Get Free Report) last announced 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). Forestar Group had a net margin of 11.45% and a return on equity of 10.65%. The company had revenue of $351.00 million for the quarter, compared to analysts' expectations of $379.60 million. On average, equities analysts anticipate that Forestar Group Inc will post 3.44 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. JMP Securities set a $30.00 price target on Forestar Group and gave the stock a "market outperform" rating in a research note on Tuesday. Citizens Jmp assumed coverage on Forestar Group in a research note on Tuesday. They set a "strong-buy" rating and a $30.00 price target for the company. Citigroup assumed coverage on Forestar Group in a research note on Tuesday. They set an "outperform" rating for the company. Finally, BTIG Research dropped their price target 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. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $30.20.

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.