Forestar Group Inc. (NYSE:FOR) Sees Large Decrease in Short Interest

Forestar Group Inc. (NYSE:FOR) was the target of a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 322,700 shares, a decrease of 6.2% from the October 31st total of 344,200 shares. Currently, 1.7% of the company’s stock are short sold. Based on an average daily volume of 129,600 shares, the days-to-cover ratio is presently 2.5 days.

Insider Buying and Selling at Forestar Group

In other news, Director G.F. (Rick) Ringler III sold 2,000 shares of the company’s stock in a transaction 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 directly owns 5,951 shares of the company’s stock, valued at $193,883.58. This represents a 25.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.49% of the company’s stock.

Institutional Trading of Forestar Group

Several large investors have recently modified their holdings of the company. Sierra Summit Advisors LLC raised 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 acquiring an additional 370 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in Forestar Group by 4.6% in the third 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 buying an additional 392 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Forestar Group by 115.4% in the first quarter. EverSource Wealth Advisors LLC now owns 924 shares of the oil and gas exploration company’s stock worth $37,000 after buying an additional 495 shares during the period. CWM LLC lifted its position in shares of Forestar Group by 111.6% during the 2nd 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 in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of 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. Institutional investors own 35.50% of the company’s stock.

Forestar Group Stock Performance

NYSE:FOR traded down $0.01 during mid-day trading on Tuesday, reaching $29.71. The company’s stock had a trading volume of 90,142 shares, compared to its average volume of 186,654. The firm’s fifty day moving average price is $31.23 and its two-hundred day moving average price is $31.46. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.44. The stock has a market cap of $1.51 billion, a P/E ratio of 7.41 and a beta of 1.72. Forestar Group has a 12-month low of $27.49 and a 12-month high of $40.92.

Forestar Group (NYSE:FOR) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas exploration company reported $1.60 earnings per share 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 company had revenue of $551.40 million for the quarter, compared to the consensus estimate of $503.76 million. During the same quarter in the prior year, the firm earned $1.44 earnings per share. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. On average, equities analysts forecast that Forestar Group will post 3.67 EPS 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.