Palogic Value Management L.P. Acquires Shares of 65,000 Forestar Group Inc $FOR

Key Points

• Palogic Value Management L.P. has acquired 65,000 shares of Forestar Group Inc, valued at approximately $1.37 million, representing a 0.13% ownership stake as of its latest SEC filing.
• Wall Street analysts remain optimistic about Forestar Group, with a consensus rating of "Buy" and an average target price of $30.20.
• Forestar Group's recent earnings report showed a miss on EPS estimates and revenue, indicating a need for attention despite a year-over-year revenue increase of 22.6%.

Palogic Value Management L.P. acquired a new stake in shares of Forestar Group Inc (NYSE:FOR - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 65,000 shares of the oil and gas exploration company's stock, valued at approximately $1,374,000. Palogic Value Management L.P. owned about 0.13% of Forestar Group as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Aristeia Capital L.L.C. purchased a new stake in Forestar Group during the 1st quarter valued at approximately $269,000. NewEdge Advisors LLC raised its stake in Forestar Group by 63.7% during the 1st quarter. NewEdge Advisors LLC now owns 4,829 shares of the oil and gas exploration company's stock valued at $102,000 after acquiring an additional 1,879 shares during the last quarter. Millennium Management LLC raised its stake in Forestar Group by 50.8% during the 1st quarter. Millennium Management LLC now owns 489,230 shares of the oil and gas exploration company's stock valued at $10,342,000 after acquiring an additional 164,753 shares during the last quarter. AQR Capital Management LLC raised its stake in Forestar Group by 32.1% during the 1st quarter. AQR Capital Management LLC now owns 227,559 shares of the oil and gas exploration company's stock valued at $4,811,000 after acquiring an additional 55,266 shares during the last quarter. Finally, PDT Partners LLC raised its stake in Forestar Group by 56.3% during the 1st quarter. PDT Partners LLC now owns 65,056 shares of the oil and gas exploration company's stock valued at $1,375,000 after acquiring an additional 23,432 shares during the last quarter. 35.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FOR has been the subject of several analyst reports. Citigroup initiated coverage on Forestar Group in a research note on Tuesday, July 15th. They set an "outperform" rating for the company. JMP Securities set a $30.00 target price on Forestar Group and gave the stock a "market outperform" rating in a research note on Tuesday, July 15th. Finally, Citizens Jmp initiated coverage on Forestar Group in a research note on Tuesday, July 15th. They set an "outperform" rating and a $30.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $30.20.

Forestar Group Stock Performance

Shares of FOR stock opened at $28.43 on Tuesday. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 8.91 and a beta of 1.43. The stock has a 50 day simple moving average of $25.24 and a 200-day simple moving average of $22.07. Forestar Group Inc has a 12-month low of $18.00 and a 12-month high of $34.82. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.52.

Forestar Group (NYSE:FOR - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.65 earnings per share for the quarter, missing analysts' consensus estimates of $0.78 by ($0.13). The firm had revenue of $390.50 million during the quarter, compared to analyst estimates of $397.50 million. Forestar Group had a return on equity of 10.02% and a net margin of 10.54%.The business's revenue was up 22.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.76 EPS. Forestar Group has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Forestar Group Inc will post 3.44 EPS for the current 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.

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