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

Forestar Group Inc. (NYSE:FOR) was the recipient of a significant decrease in short interest in September. As of September 30th, there was short interest totalling 393,600 shares, a decrease of 6.2% from the September 15th total of 419,600 shares. Based on an average daily volume of 182,300 shares, the short-interest ratio is currently 2.2 days. Approximately 2.1% of the shares of the company are sold short.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Citigroup dropped their target price 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. BTIG Research dropped their price objective on shares of Forestar Group from $41.00 to $37.00 and set a “buy” rating for the company in a research note on Friday, July 19th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Forestar Group from $37.50 to $36.00 and set a “neutral” rating for the company in a research note on Thursday, July 25th.

Insider Buying and Selling

In related news, Director G.F. (Rick) Ringler III sold 2,000 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $32.58, for a total transaction of $65,160.00. Following the completion of the transaction, the director now directly owns 5,951 shares of the company’s stock, valued at $193,883.58. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Forestar Group news, Director Elizabeth Parmer sold 1,547 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $32.24, for a total value of $49,875.28. Following the completion of the transaction, the director now directly owns 1,548 shares of the company’s stock, valued at approximately $49,907.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director G.F. (Rick) Ringler III sold 2,000 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $32.58, for a total transaction of $65,160.00. Following the completion of the transaction, the director now directly owns 5,951 shares of the company’s stock, valued at approximately $193,883.58. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,095 shares of company stock valued at $162,287 over the last ninety days. Corporate insiders own 0.49% of the company’s stock.

Institutional Trading of Forestar Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Transcendent Capital Group LLC purchased a new stake in shares of Forestar Group during the 1st quarter valued at $32,000. CWM LLC grew its stake 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 during the period. Family Firm Inc. purchased a new stake in shares of Forestar Group during the 2nd quarter valued at $34,000. EverSource Wealth Advisors LLC grew its stake in shares of Forestar Group by 115.4% during the 1st 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. Finally, nVerses Capital LLC grew its stake in shares of Forestar Group by 500.0% during the 3rd quarter. nVerses Capital LLC now owns 1,200 shares of the oil and gas exploration company’s stock valued at $39,000 after buying an additional 1,000 shares during the period. 35.50% of the stock is owned by hedge funds and other institutional investors.

Forestar Group Price Performance

Shares of FOR traded up $0.27 during mid-day trading on Thursday, reaching $33.09. 13,795 shares of the company’s stock were exchanged, compared to its average volume of 196,916. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.47. The company has a 50-day simple moving average of $31.10 and a two-hundred day simple moving average of $32.40. Forestar Group has a 52-week low of $22.71 and a 52-week high of $40.92. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 8.21 and a beta of 1.76.

Forestar Group (NYSE:FOR) last released its earnings results on Thursday, July 18th. The oil and gas exploration company reported $0.76 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.13). The firm had revenue of $318.40 million during the quarter, compared to analysts’ expectations of $370.50 million. Forestar Group had a return on equity of 13.48% and a net margin of 12.89%. On average, sell-side analysts predict that Forestar Group will post 3.72 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.