Forestar Group Inc. (NYSE:FOR) Stake Lifted by Denali Advisors LLC

Denali Advisors LLC lifted its stake in shares of Forestar Group Inc. (NYSE:FOR) by 2.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 237,161 shares of the oil and gas exploration company’s stock after purchasing an additional 4,601 shares during the period. Denali Advisors LLC’s holdings in Forestar Group were worth $6,147,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FOR. Creative Planning increased its position in shares of Forestar Group by 35.6% during the 3rd quarter. Creative Planning now owns 13,600 shares of the oil and gas exploration company’s stock valued at $440,000 after purchasing an additional 3,569 shares during the period. US Bancorp DE boosted its stake in Forestar Group by 18.3% during the third quarter. US Bancorp DE now owns 24,741 shares of the oil and gas exploration company’s stock valued at $801,000 after buying an additional 3,819 shares in the last quarter. James Investment Research Inc. grew its holdings in Forestar Group by 85.1% during the third quarter. James Investment Research Inc. now owns 18,955 shares of the oil and gas exploration company’s stock worth $614,000 after acquiring an additional 8,715 shares during the period. Principal Financial Group Inc. raised its position in Forestar Group by 13.7% in the third quarter. Principal Financial Group Inc. now owns 360,471 shares of the oil and gas exploration company’s stock worth $11,668,000 after acquiring an additional 43,369 shares in the last quarter. Finally, Summit Global Investments raised its position in Forestar Group by 5.0% in the third quarter. Summit Global Investments now owns 32,002 shares of the oil and gas exploration company’s stock worth $1,036,000 after acquiring an additional 1,521 shares in the last quarter. Institutional investors own 35.50% of the company’s stock.

Forestar Group Price Performance

NYSE FOR opened at $23.85 on Wednesday. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.50. Forestar Group Inc. has a 1 year low of $22.42 and a 1 year high of $40.92. The company has a market cap of $1.21 billion, a PE ratio of 6.68 and a beta of 1.72. The stock’s 50-day moving average price is $24.66 and its two-hundred day moving average price is $28.59.

Forestar Group (NYSE:FOR) last released its quarterly earnings results on Tuesday, January 21st. The oil and gas exploration company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.33). Forestar Group had a net margin of 12.50% and a return on equity of 11.74%. The firm had revenue of $250.40 million for the quarter, compared to analyst estimates of $318.00 million. The business’s quarterly revenue was down 18.1% compared to the same quarter last year. On average, analysts predict that Forestar Group Inc. will post 3.44 EPS for the current year.

Insider Activity

In other Forestar Group news, CEO Anthony W. Oxley purchased 4,300 shares of the stock in a transaction dated Friday, February 14th. The shares were acquired at an average price of $23.14 per share, for a total transaction of $99,502.00. Following the completion of the acquisition, the chief executive officer now owns 4,300 shares of the company’s stock, valued at $99,502. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on FOR shares. StockNews.com raised shares of Forestar Group from a “sell” rating to a “hold” rating in a research note on Wednesday. JPMorgan Chase & Co. dropped their price target on Forestar Group from $37.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, January 28th. Finally, Citigroup cut their price objective on Forestar Group from $39.00 to $32.00 and set a “buy” rating for the company in a research report 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.