PDT Partners LLC Takes $1.56 Million Position in Forestar Group Inc $FOR

Key Points

• PDT Partners LLC acquired 49,376 shares of Forestar Group, worth approximately $1.56 million, giving it a 0.10% stake. Institutional investors collectively own 35.5% of the company.
• Forestar reported quarterly EPS of $0.70, below the $0.81 consensus estimate, while revenue of $407 million also missed expectations but increased 4.2% year over year.
• Analysts maintain a consensus “Hold” rating with an average price target of $32.67; shares recently opened at $28.96, within a 52-week range of $22.81 to $32.06.

PDT Partners LLC purchased a new stake in shares of Forestar Group Inc (NYSE:FOR - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 49,376 shares of the oil and gas exploration company's stock, valued at approximately $1,563,000. PDT Partners LLC owned approximately 0.10% of Forestar Group at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd raised its holdings in shares of Forestar Group by 1,206.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 993 shares of the oil and gas exploration company's stock worth $26,000 after purchasing an additional 917 shares during the period. Kestra Advisory Services LLC acquired a new position in shares of Forestar Group in the 4th quarter valued at about $27,000. Fifth Third Bancorp acquired a new position in shares of Forestar Group in the 1st quarter valued at about $31,000. Allworth Financial LP bought a new stake in shares of Forestar Group during the 2nd quarter valued at about $33,000. Finally, Comerica Bank grew its position in shares of Forestar Group by 76.5% during the 3rd quarter. Comerica Bank now owns 1,269 shares of the oil and gas exploration company's stock valued at $34,000 after buying an additional 550 shares during the last quarter. 35.50% of the stock is currently owned by institutional investors.

Forestar Group Stock Performance

FOR stock opened at $28.96 on Thursday. The company has a market capitalization of $1.48 billion, a P/E ratio of 8.70 and a beta of 1.41. The company has a 50-day simple moving average of $29.56 and a 200 day simple moving average of $27.93. Forestar Group Inc has a fifty-two week low of $22.81 and a fifty-two week high of $32.06. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.43.

Forestar Group (NYSE:FOR - Get Free Report) last released its earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.11). The company had revenue of $407.00 million for the quarter, compared to analyst estimates of $437.73 million. Forestar Group had a net margin of 9.88% and a return on equity of 9.42%. The firm's quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.65 EPS.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on FOR shares. Weiss Ratings raised shares of Forestar Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, August 12th. Citizens Jmp reaffirmed a "market outperform" rating and set a $35.00 target price on shares of Forestar Group in a report on Wednesday, July 22nd. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, Forestar Group has an average rating of "Hold" and a consensus price target of $32.67.

Forestar Group Company Profile

Forestar Group Inc, headquartered in Austin, Texas, is a residential lot development and management company focused on delivering finished home sites to homebuilders across the United States. The company acquires, entitles and develops land for single-family and multi-family housing, managing zoning, infrastructure and environmental approvals to prepare lots for construction. Forestar's integrated approach to land development spans from initial site acquisition through final lot delivery, providing homebuilders with ready-to-build parcels in a variety of markets.

In addition to lot development, Forestar operates a retail homebuilding segment through joint ventures and strategic partnerships with national and regional homebuilders.

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