MQS Management LLC Buys New Stake in Forestar Group Inc (NYSE:FOR)

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

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Dimensional Fund Advisors LP grew its holdings in shares of 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 acquiring an additional 119,357 shares during the period. Janus Henderson Group PLC raised its holdings in Forestar Group by 406.1% in 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 during the period. Crestline Management LP bought a new position in Forestar Group in the 4th quarter worth $2,333,000. First Trust Advisors LP raised its holdings in 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 worth $3,343,000 after purchasing an additional 85,669 shares during the period. Finally, American Century Companies Inc. raised its holdings in 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 worth $15,143,000 after purchasing an additional 59,427 shares during the period. 35.50% of the stock is owned by institutional investors.

Insider Activity at Forestar Group

In related news, Director Elizabeth Parmer sold 1,460 shares of the company's 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 directly owned 3,357 shares in the company, valued at approximately $69,053.49. This represents a 30.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.40% of the company's stock.

Analysts Set New Price Targets

FOR has been the topic of a number of recent research reports. Citizens Jmp assumed coverage on Forestar Group in a report on Tuesday. They issued a "mkt outperform" rating and a $30.00 target price on the stock. BTIG Research reduced their target price on shares of Forestar Group from $36.00 to $29.00 and set a "buy" rating for the company in a report on Monday, April 21st. JMP Securities set a $30.00 target price on shares of Forestar Group and gave the stock a "market outperform" rating in a report on Tuesday. Finally, Citigroup began coverage on shares of Forestar Group in a report on Tuesday. They issued an "outperform" rating for the company. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Forestar Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $30.20.

Forestar Group Price Performance

Shares of NYSE FOR traded down $0.18 during mid-day trading on Tuesday, reaching $22.18. The company's stock had a trading volume of 270,133 shares, compared to its average volume of 175,693. The firm has a market capitalization of $1.13 billion, a PE ratio of 6.72 and a beta of 1.40. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a fifty day moving average of $20.21 and a two-hundred day moving average of $21.62. Forestar Group Inc has a 52 week low of $18.00 and a 52 week high of $37.21.

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). Forestar Group had a return on equity of 10.65% and a net margin of 11.45%. The firm had revenue of $351.00 million during the quarter, compared to the consensus estimate of $379.60 million. As a group, sell-side analysts anticipate 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.