Forestar Group (NYSE:FOR) Stock: Insider Lisa Jamieson Sells 3,000 Shares

Key Points

• Director Lisa Jamieson sold 3,000 Forestar shares for $74,310 at an average price of $24.77, reducing her stake by 11.49% to 23,105 shares.
• Forestar’s latest quarter missed estimates: EPS was $1.15 versus $1.25 expected, revenue was $580.8 million versus $603.1 million expected, and revenue declined 13.4% year over year.
• Shares fell 2.8% to $23.79 on Friday. Analysts’ consensus rating is “Hold,” with an average price target of $36.50.

Forestar Group Inc (NYSE:FOR - Get Free Report) Director Lisa Jamieson sold 3,000 shares of the business's stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $24.77, for a total value of $74,310.00. Following the sale, the director directly owned 23,105 shares of the company's stock, valued at approximately $572,310.85. This trade represents a 11.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Forestar Group Trading Down 2.8%

Shares of FOR stock traded down $0.67 during mid-day trading on Friday, reaching $23.79. The company's stock had a trading volume of 189,695 shares, compared to its average volume of 156,545. The company has a quick ratio of 1.44, a current ratio of 2.22 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $1.21 billion, a PE ratio of 8.56 and a beta of 1.43. The company's 50 day simple moving average is $26.11 and its 200-day simple moving average is $27.36. Forestar Group Inc has a 12-month low of $22.81 and a 12-month high of $32.06.

Forestar Group (NYSE:FOR - Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The oil and gas exploration company reported $1.15 EPS for the quarter, missing analysts' consensus estimates of $1.25 by ($0.10). Forestar Group had a return on equity of 7.73% and a net margin of 8.72%. The firm had revenue of $580.80 million during the quarter, compared to analyst estimates of $603.10 million. During the same quarter in the prior year, the firm earned $1.70 EPS. The business's quarterly revenue was down 13.4% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Weiss Ratings cut shares of Forestar Group from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, October 23rd. Citizens Jmp restated a "market outperform" rating and issued a $35.00 target price on shares of Forestar Group in a research report on Wednesday, July 22nd. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $36.50.

Institutional Trading of Forestar Group

Several large investors have recently added to or reduced their stakes in FOR. Dimensional Fund Advisors LP raised its position in shares of Forestar Group by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,805,806 shares of the oil and gas exploration company's stock valued at $68,573,000 after acquiring an additional 30,347 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Forestar Group in the 2nd quarter valued at $56,174,000. Heartland Advisors Inc. bought a new position in shares of Forestar Group in the 2nd quarter worth $15,028,000. Jupiter Topco LLC acquired a new stake in shares of Forestar Group during the second quarter worth $8,459,000. Finally, Janus Henderson Group PLC grew its stake in shares of Forestar Group by 28.2% during the first quarter. Janus Henderson Group PLC now owns 256,842 shares of the oil and gas exploration company's stock worth $6,286,000 after purchasing an additional 56,514 shares during the period. 35.50% of the stock is owned by institutional investors and hedge funds.

About Forestar Group

Forestar Group Inc NYSE: FOR is a residential lot development company that acquires, entitles and develops land for housing construction. The company sells finished and partially developed residential lots to homebuilders, including its majority shareholder, D.R. Horton, as well as other national, regional and local builders.

Forestar's activities generally include identifying land opportunities, obtaining development approvals, installing infrastructure and managing the construction of roads, utilities and other improvements needed for residential communities.

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