Jacobs Levy Equity Management Inc. Reduces Stock Position in Forestar Group Inc. (NYSE:FOR)

Jacobs Levy Equity Management Inc. reduced its stake in shares of Forestar Group Inc. (NYSE:FOR - Free Report) by 3.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 307,653 shares of the oil and gas exploration company's stock after selling 12,634 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.61% of Forestar Group worth $7,974,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the business. NewEdge Advisors LLC acquired a new position in Forestar Group in the 4th quarter worth about $76,000. R Squared Ltd acquired a new stake in Forestar Group in the 4th quarter valued at approximately $95,000. Heck Capital Advisors LLC acquired a new stake in Forestar Group in the 4th quarter valued at approximately $112,000. SG Americas Securities LLC grew its holdings in Forestar Group by 43.3% in the 4th quarter. SG Americas Securities LLC now owns 5,727 shares of the oil and gas exploration company's stock valued at $148,000 after buying an additional 1,731 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in Forestar Group by 10.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 6,562 shares of the oil and gas exploration company's stock valued at $170,000 after buying an additional 602 shares during the last quarter. Institutional investors own 35.50% of the company's stock.

Insider Activity

In other Forestar Group news, Director Elizabeth Parmer sold 1,460 shares of Forestar Group stock in a transaction dated 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 owns 3,357 shares in the company, valued at approximately $69,053.49. The trade was a 30.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

Forestar Group Stock Performance

Shares of Forestar Group stock traded up $0.09 on Friday, hitting $20.20. The stock had a trading volume of 122,728 shares, compared to its average volume of 175,124. Forestar Group Inc. has a twelve month low of $18.00 and a twelve month high of $37.21. The business's 50 day moving average is $20.36 and its two-hundred day moving average is $24.17. 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 stock has a market cap of $1.03 billion, a price-to-earnings ratio of 5.66 and a beta of 1.46.

Forestar Group (NYSE:FOR - Get Free Report) last issued its earnings results on Thursday, April 17th. The oil and gas exploration company reported $0.64 earnings per share for the quarter, missing analysts' consensus estimates of $0.71 by ($0.07). Forestar Group had a net margin of 12.50% and a return on equity of 11.74%. The business had revenue of $351.00 million during the quarter, compared to analyst estimates of $379.60 million. Analysts forecast 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.