Forestar Group Inc $FOR Shares Purchased by PDT Partners LLC

Key Points

• PDT Partners LLC increased its stake in Forestar Group Inc (NYSE:FOR) by 56.3%, owning a total of 65,056 shares worth approximately $1.375 million as of its latest SEC filing.
• Forestar Group reported a net income miss in its latest quarterly earnings, with an EPS of $0.65 compared to consensus estimates of $0.78, despite a year-over-year revenue increase of 22.6%.
• Analysts set an average price target for Forestar Group at $30.20, with the stock currently rated as a "Buy" by the majority of analysts, indicating positive expectations for its future performance.

PDT Partners LLC grew its stake in shares of Forestar Group Inc (NYSE:FOR - Free Report) by 56.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 65,056 shares of the oil and gas exploration company's stock after purchasing an additional 23,432 shares during the quarter. PDT Partners LLC owned approximately 0.13% of Forestar Group worth $1,375,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Forestar Group by 4.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,905 shares of the oil and gas exploration company's stock worth $283,000 after buying an additional 456 shares in the last quarter. Signaturefd LLC lifted its stake in Forestar Group by 119.1% in the first quarter. Signaturefd LLC now owns 1,514 shares of the oil and gas exploration company's stock valued at $32,000 after buying an additional 823 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Forestar Group by 9.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,021 shares of the oil and gas exploration company's stock valued at $338,000 after purchasing an additional 1,076 shares in the last quarter. Invesco Ltd. lifted its stake in Forestar Group by 3.7% during the first quarter. Invesco Ltd. now owns 39,557 shares of the oil and gas exploration company's stock valued at $836,000 after buying an additional 1,423 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new position in shares of Forestar Group in the 4th quarter valued at about $38,000. 35.50% of the stock is owned by institutional investors and hedge funds.

Forestar Group Stock Down 1.2%

Shares of Forestar Group stock traded down $0.34 on Monday, reaching $28.38. The company's stock had a trading volume of 22,677 shares, compared to its average volume of 192,530. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 8.92 and a beta of 1.43. Forestar Group Inc has a 52 week low of $18.00 and a 52 week high of $34.82. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.52. The firm's fifty day simple moving average is $25.07 and its two-hundred day simple moving average is $22.03.

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FOR. Citigroup began coverage on shares of Forestar Group in a research note on Tuesday, July 15th. They issued an "outperform" rating on the stock. Citizens Jmp started coverage on Forestar Group in a research note on Tuesday, July 15th. They set an "outperform" rating and a $30.00 price objective on the stock. Finally, JMP Securities set a $30.00 target price on Forestar Group and gave the stock a "market outperform" rating in a report on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $30.20.

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.