Forestar Group Inc. (NYSE:FOR) Short Interest Update

Forestar Group Inc. (NYSE:FOR) saw a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 344,200 shares, a decline of 11.5% from the October 15th total of 389,000 shares. Currently, 1.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 135,200 shares, the days-to-cover ratio is presently 2.5 days.

Insider Buying and Selling

In other Forestar Group news, 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 stock was sold at an average price of $32.58, for a total transaction of $65,160.00. Following the transaction, the director now owns 5,951 shares in the company, valued at approximately $193,883.58. This represents a 25.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.49% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Sierra Summit Advisors LLC lifted its position in Forestar Group by 2.2% in the second quarter. Sierra Summit Advisors LLC now owns 17,166 shares of the oil and gas exploration company’s stock worth $549,000 after buying an additional 370 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Forestar Group by 4.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,831 shares of the oil and gas exploration company’s stock worth $286,000 after purchasing an additional 392 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Forestar Group by 115.4% during the first quarter. EverSource Wealth Advisors LLC now owns 924 shares of the oil and gas exploration company’s stock valued at $37,000 after buying an additional 495 shares during the period. CWM LLC grew its stake in shares of Forestar Group by 111.6% during the second quarter. CWM LLC now owns 1,060 shares of the oil and gas exploration company’s stock valued at $34,000 after buying an additional 559 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Forestar Group by 7.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,920 shares of the oil and gas exploration company’s stock valued at $349,000 after acquiring an additional 765 shares during the period. 35.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. lowered their price target on Forestar Group from $37.50 to $36.00 and set a “neutral” rating on the stock in a report on Thursday, July 25th.

Forestar Group Price Performance

Shares of FOR stock traded down $0.10 on Monday, hitting $29.30. 75,109 shares of the stock traded hands, compared to its average volume of 189,297. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of 7.33 and a beta of 1.76. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.50. The firm has a 50 day simple moving average of $31.74 and a two-hundred day simple moving average of $31.80. Forestar Group has a 52 week low of $27.49 and a 52 week high of $40.92.

Forestar Group (NYSE:FOR) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas exploration company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.29. Forestar Group had a net margin of 13.48% and a return on equity of 13.59%. The business had revenue of $551.40 million during the quarter, compared to analyst estimates of $503.76 million. During the same period last year, the firm posted $1.44 EPS. The company’s revenue was up .3% on a year-over-year basis. As a group, equities research analysts predict that Forestar Group will post 3.67 earnings per share for the current fiscal year.

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.