Insider Selling: Forestar Group Inc. (NYSE:FOR) Director Sells 2,000 Shares of Stock

Forestar Group Inc. (NYSE:FOR) Director G.F. (Rick) Ringler III sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $32.58, for a total value of $65,160.00. Following the sale, the director now owns 5,951 shares in the company, valued at approximately $193,883.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Forestar Group Price Performance

Shares of NYSE FOR opened at $31.95 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.50 and a quick ratio of 1.50. The firm has a market capitalization of $1.62 billion, a PE ratio of 7.87 and a beta of 1.76. Forestar Group Inc. has a 1-year low of $22.71 and a 1-year high of $40.92. The business’s fifty day moving average price is $30.81 and its two-hundred day moving average price is $32.82.

Forestar Group (NYSE:FOR) last released its quarterly earnings data on Thursday, July 18th. The oil and gas exploration company reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.13). The firm had revenue of $318.40 million during the quarter, compared to analyst estimates of $370.50 million. Forestar Group had a return on equity of 13.48% and a net margin of 12.89%. On average, research analysts expect that Forestar Group Inc. will post 3.72 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on FOR. BTIG Research decreased their price objective on shares of Forestar Group from $41.00 to $37.00 and set a “buy” rating for the company in a report on Friday, July 19th. Citigroup decreased their price target on shares of Forestar Group from $46.00 to $43.00 and set a “buy” rating for the company in a report on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Forestar Group from $37.50 to $36.00 and set a “neutral” rating on the stock in a research note on Thursday, July 25th.

Hedge Funds Weigh In On Forestar Group

Several hedge funds and other institutional investors have recently made changes to their positions in FOR. Charles Schwab Investment Management Inc. raised its stake in Forestar Group by 7.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 148,095 shares of the oil and gas exploration company’s stock valued at $4,898,000 after acquiring an additional 10,705 shares in the last quarter. Allianz Asset Management GmbH lifted its holdings in Forestar Group by 20.6% in the fourth quarter. Allianz Asset Management GmbH now owns 75,035 shares of the oil and gas exploration company’s stock worth $2,481,000 after purchasing an additional 12,807 shares during the period. Nebula Research & Development LLC grew its position in Forestar Group by 115.3% in the 4th quarter. Nebula Research & Development LLC now owns 22,849 shares of the oil and gas exploration company’s stock valued at $756,000 after buying an additional 12,237 shares in the last quarter. Vanguard Group Inc. increased its stake in Forestar Group by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 2,777,578 shares of the oil and gas exploration company’s stock valued at $91,855,000 after buying an additional 15,729 shares during the period. Finally, Quadrature Capital Ltd bought a new stake in shares of Forestar Group during the 4th quarter worth about $786,000. 35.50% of the stock is currently owned by institutional investors and hedge funds.

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.