Skandinaviska Enskilda Banken AB publ Sells 32,700 Shares of Forestar Group Inc (NYSE:FOR)

Key Points

• Skandinaviska Enskilda Banken AB sold 32,700 shares of Forestar Group Inc, reducing its stake by 31.1% to own a total of 72,300 shares.
• Forestar Group reported $0.65 EPS for the quarter, missing the consensus estimate of $0.78 and achieving revenue of $390.50 million, up 22.6% year-over-year.
• Various institutional investors have actively changed their positions, with 35.50% of the stock now owned by institutional shareholders.

Skandinaviska Enskilda Banken AB publ reduced its holdings in Forestar Group Inc (NYSE:FOR - Free Report) by 31.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 72,300 shares of the oil and gas exploration company's stock after selling 32,700 shares during the period. Skandinaviska Enskilda Banken AB publ owned approximately 0.14% of Forestar Group worth $1,528,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in FOR. GAMMA Investing LLC grew its holdings in shares of Forestar Group by 263,300.0% during the 1st quarter. GAMMA Investing LLC now owns 13,170 shares of the oil and gas exploration company's stock worth $278,000 after purchasing an additional 13,165 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of Forestar Group during the 4th quarter valued at approximately $38,000. Bank of America Corp DE increased its stake in shares of Forestar Group by 106.4% in the fourth quarter. Bank of America Corp DE now owns 39,035 shares of the oil and gas exploration company's stock worth $1,012,000 after purchasing an additional 20,127 shares in the last quarter. MQS Management LLC purchased a new stake in shares of Forestar Group in the first quarter worth $379,000. Finally, Two Sigma Advisers LP raised its stake in shares of Forestar Group by 16.1% during the fourth quarter. Two Sigma Advisers LP now owns 104,781 shares of the oil and gas exploration company's stock worth $2,716,000 after acquiring an additional 14,500 shares in the last quarter. 35.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Forestar Group

In other news, Director Elizabeth Parmer sold 1,460 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $20.57, for a total transaction of $30,032.20. Following the completion of the transaction, the director owned 3,357 shares of the company's stock, valued at approximately $69,053.49. The trade was a 30.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.40% of the company's stock.

Analysts Set New Price Targets

FOR has been the topic of a number of research reports. JMP Securities set a $30.00 target price on shares of Forestar Group and gave the company a "market outperform" rating in a report on Tuesday, July 15th. Citizens Jmp started coverage on shares of Forestar Group in a research report on Tuesday, July 15th. They set an "outperform" rating and a $30.00 target price for the company. BTIG Research dropped their price objective on shares of Forestar Group from $36.00 to $29.00 and set a "buy" rating for the company in a research note on Monday, April 21st. Finally, Citigroup started coverage on Forestar Group in a research note on Tuesday, July 15th. They issued an "outperform" rating on the stock. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $30.20.

Forestar Group Stock Performance

NYSE FOR traded down $0.05 during trading hours on Wednesday, hitting $25.11. The company had a trading volume of 307,831 shares, compared to its average volume of 189,511. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.73 and a current ratio of 0.73. The company has a market cap of $1.28 billion, a PE ratio of 7.87 and a beta of 1.40. Forestar Group Inc has a 1-year low of $18.00 and a 1-year high of $34.82. The business has a 50 day moving average of $20.97 and a 200-day moving average of $21.49.

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

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.