Hsbc Holdings PLC Invests $380,000 in Forestar Group Inc. (NYSE:FOR)

Hsbc Holdings PLC bought a new position in Forestar Group Inc. (NYSE:FOR - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 14,716 shares of the oil and gas exploration company's stock, valued at approximately $380,000.

Other large investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in shares of Forestar Group by 4.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,721,534 shares of the oil and gas exploration company's stock valued at $70,541,000 after purchasing an additional 119,357 shares during the last quarter. First Eagle Investment Management LLC increased its stake in Forestar Group by 26.4% in the fourth quarter. First Eagle Investment Management LLC now owns 479,669 shares of the oil and gas exploration company's stock valued at $12,433,000 after acquiring an additional 100,100 shares during the period. First Trust Advisors LP grew its position in Forestar Group by 197.8% in the fourth quarter. First Trust Advisors LP now owns 128,989 shares of the oil and gas exploration company's stock valued at $3,343,000 after acquiring an additional 85,669 shares during the period. American Century Companies Inc. lifted its holdings 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 purchasing an additional 59,427 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in Forestar Group by 77.3% during the 4th quarter. JPMorgan Chase & Co. now owns 134,238 shares of the oil and gas exploration company's stock worth $3,479,000 after acquiring an additional 58,525 shares during the last quarter. 35.50% of the stock is owned by institutional investors.

Insider Activity

In other Forestar Group news, CEO Anthony W. Oxley acquired 4,300 shares of the business's stock in a transaction that occurred on Friday, February 14th. The stock was bought at an average cost of $23.14 per share, with a total value of $99,502.00. Following the acquisition, the chief executive officer now owns 4,300 shares in the company, valued at approximately $99,502. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.40% of the company's stock.

Forestar Group Trading Up 0.3%

Shares of FOR stock traded up $0.07 during mid-day trading on Tuesday, reaching $20.65. 192,227 shares of the stock traded hands, compared to its average volume of 175,103. The stock's fifty day simple moving average is $20.51 and its two-hundred day simple moving average is $24.44. Forestar Group Inc. has a 1-year low of $18.00 and a 1-year high of $37.21. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.50. The company has a market cap of $1.05 billion, a price-to-earnings ratio of 5.78 and a beta of 1.46.

Forestar Group (NYSE:FOR - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The oil and gas exploration company reported $0.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.71 by ($0.07). The company had revenue of $351.00 million for the quarter, compared to the consensus estimate of $379.60 million. Forestar Group had a return on equity of 11.74% and a net margin of 12.50%. On average, research analysts anticipate that Forestar Group Inc. will post 3.44 EPS for the current fiscal year.

Analyst Ratings Changes

FOR has been the topic of several research reports. JPMorgan Chase & Co. cut their price target on Forestar Group from $37.00 to $30.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 28th. BTIG Research dropped their price objective on shares of Forestar Group from $36.00 to $29.00 and set a "buy" rating on the stock in a report on Monday, April 21st. StockNews.com raised shares of Forestar Group from a "sell" rating to a "hold" rating in a research note on Wednesday, February 26th. Finally, Citigroup cut their price target on shares of Forestar Group from $39.00 to $32.00 and set a "buy" rating for the company in a research note on Thursday, January 23rd.

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.