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 cut its holdings in Forestar Group Inc (NYSE:FOR - Free Report) by 31.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 0.14% of Forestar Group worth $1,528,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its holdings in shares of Forestar Group by 4.6% in the 4th 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 buying an additional 119,357 shares during the last quarter. American Century Companies Inc. boosted its position in Forestar Group by 11.3% during the 4th quarter. American Century Companies Inc. now owns 584,222 shares of the oil and gas exploration company's stock valued at $15,143,000 after buying an additional 59,427 shares during the period. Bridgeway Capital Management LLC boosted its position in Forestar Group by 2.7% during the 4th quarter. Bridgeway Capital Management LLC now owns 481,253 shares of the oil and gas exploration company's stock valued at $12,474,000 after buying an additional 12,473 shares during the period. Geode Capital Management LLC lifted its position in shares of Forestar Group by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 473,883 shares of the oil and gas exploration company's stock worth $12,286,000 after purchasing an additional 2,038 shares during the period. Finally, Denali Advisors LLC lifted its position in shares of Forestar Group by 24.4% in the 1st quarter. Denali Advisors LLC now owns 295,104 shares of the oil and gas exploration company's stock worth $6,238,000 after purchasing an additional 57,943 shares during the period. 35.50% of the stock is owned by institutional investors.

Insider Transactions at Forestar Group

In other Forestar Group 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 owned 3,357 shares in the company, valued at approximately $69,053.49. This represents a 30.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.40% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. BTIG Research dropped their target price on shares of Forestar Group from $36.00 to $29.00 and set a "buy" rating for the company in a research report on Monday, April 21st. Citizens Jmp assumed coverage on shares of Forestar Group in a research report on Tuesday, July 15th. They issued an "outperform" rating and a $30.00 target price for the company. Citigroup initiated coverage on shares of Forestar Group in a research report on Tuesday, July 15th. They issued an "outperform" rating for the company. Finally, JMP Securities set a $30.00 price target on shares of Forestar Group and gave the stock a "market outperform" rating in a research note on Tuesday, July 15th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Forestar Group currently has an average rating of "Moderate Buy" and a consensus price target of $30.20.

Forestar Group Stock Up 1.0%

FOR stock traded up $0.26 during trading on Friday, hitting $25.06. 238,711 shares of the stock traded hands, compared to its average volume of 201,141. Forestar Group Inc has a 1 year low of $18.00 and a 1 year high of $34.82. The firm's 50 day moving average is $21.34 and its two-hundred day moving average is $21.51. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of 7.86 and a beta of 1.40. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.73 and a quick ratio of 0.73.

Forestar Group (NYSE:FOR - Get Free Report) last announced 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). Forestar Group had a net margin of 10.54% and a return on equity of 10.02%. The firm had revenue of $390.50 million for the quarter, compared to analysts' expectations of $397.50 million. During the same period last year, the company posted $0.76 earnings per share. The business's revenue for the quarter was up 22.6% compared to the same quarter last year. On average, sell-side analysts anticipate 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.