Magnetar Financial LLC Makes New $286,000 Investment in Forestar Group Inc. (NYSE:FOR)

Magnetar Financial LLC purchased a new stake in shares of Forestar Group Inc. (NYSE:FOR) in the 4th quarter, Holdings Channel reports. The fund purchased 11,020 shares of the oil and gas exploration company’s stock, valued at approximately $286,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Point72 DIFC Ltd bought a new position in shares of Forestar Group in the third quarter worth approximately $32,000. R Squared Ltd purchased a new position in shares of Forestar Group in the fourth quarter valued at $95,000. Heck Capital Advisors LLC purchased a new stake in shares of Forestar Group during the 4th quarter valued at about $112,000. SG Americas Securities LLC boosted its holdings in shares of Forestar Group by 43.3% in the 4th quarter. SG Americas Securities LLC now owns 5,727 shares of the oil and gas exploration company’s stock worth $148,000 after purchasing an additional 1,731 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in Forestar Group by 10.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 6,562 shares of the oil and gas exploration company’s stock valued at $170,000 after acquiring an additional 602 shares during the last quarter. 35.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Forestar Group

In other Forestar Group news, CEO Anthony W. Oxley acquired 4,300 shares of the stock in a transaction dated Friday, February 14th. The stock was purchased at an average price of $23.14 per share, with a total value of $99,502.00. Following the transaction, the chief executive officer now directly owns 4,300 shares of the company’s stock, valued at $99,502. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Citigroup lowered their price objective on shares of Forestar Group from $39.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. StockNews.com raised shares of Forestar Group from a “sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Forestar Group from $37.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, January 28th.

Forestar Group Trading Down 2.9 %

FOR opened at $21.78 on Monday. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.50. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 6.10 and a beta of 1.75. Forestar Group Inc. has a 12 month low of $20.70 and a 12 month high of $40.92. The stock has a fifty day moving average price of $23.26 and a 200-day moving average price of $27.55.

Forestar Group (NYSE:FOR) last announced its earnings results on Tuesday, January 21st. The oil and gas exploration company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.33). Forestar Group had a return on equity of 11.74% and a net margin of 12.50%. The firm had revenue of $250.40 million during the quarter, compared to the consensus estimate of $318.00 million. The company’s revenue was down 18.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Forestar Group Inc. will post 3.44 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.