Voloridge Investment Management LLC lessened its stake in Forestar Group Inc. (NYSE:FOR - Free Report) by 63.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,110 shares of the oil and gas exploration company's stock after selling 29,744 shares during the quarter. Voloridge Investment Management LLC's holdings in Forestar Group were worth $443,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Empowered Funds LLC increased its holdings in Forestar Group by 3.9% in the fourth quarter. Empowered Funds LLC now owns 330,462 shares of the oil and gas exploration company's stock valued at $8,566,000 after buying an additional 12,473 shares during the last quarter. Barclays PLC grew its position in shares of Forestar Group by 20.3% in the 3rd quarter. Barclays PLC now owns 57,622 shares of the oil and gas exploration company's stock worth $1,865,000 after acquiring an additional 9,733 shares in the last quarter. Swedbank AB bought a new stake in shares of Forestar Group in the 4th quarter valued at approximately $1,296,000. Bank of New York Mellon Corp increased its holdings in shares of Forestar Group by 15.6% in the 4th quarter. Bank of New York Mellon Corp now owns 114,372 shares of the oil and gas exploration company's stock valued at $2,965,000 after acquiring an additional 15,395 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of Forestar Group during the 4th quarter valued at approximately $38,000. Institutional investors and hedge funds own 35.50% of the company's stock.
Forestar Group Stock Performance
Shares of Forestar Group stock traded down $0.21 on Friday, reaching $19.14. 153,583 shares of the company were exchanged, compared to its average volume of 176,197. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.50 and a current ratio of 0.50. The company's 50-day moving average is $19.84 and its two-hundred day moving average is $23.34. The firm has a market cap of $972.77 million, a price-to-earnings ratio of 5.36 and a beta of 1.46. Forestar Group Inc. has a 1-year low of $18.00 and a 1-year high of $37.21.
Forestar Group (NYSE:FOR - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The oil and gas exploration company reported $0.64 EPS for the quarter, missing analysts' consensus estimates of $0.71 by ($0.07). Forestar Group had a return on equity of 11.74% and a net margin of 12.50%. The company had revenue of $351.00 million for the quarter, compared to the consensus estimate of $379.60 million. As a group, research analysts expect that Forestar Group Inc. will post 3.44 earnings per share for the current fiscal year.
Insider Activity
In other news, Director Elizabeth Parmer sold 1,460 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $20.57, for a total transaction of $30,032.20. Following the completion of the transaction, the director now directly owns 3,357 shares in the company, 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 filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.40% of the company's stock.
Analyst Ratings Changes
A number of research firms have commented on FOR. Wall Street Zen raised shares of Forestar Group from a "sell" rating to a "hold" rating in a report on Wednesday, February 26th. BTIG Research reduced their price target on shares of Forestar Group from $36.00 to $29.00 and set a "buy" rating on the stock in a research report on Monday, April 21st.
Read Our Latest Report on FOR
About Forestar Group
(
Free Report)
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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