Sierra Summit Advisors LLC Grows Holdings in Forestar Group Inc. (NYSE:FOR)

Sierra Summit Advisors LLC raised its position in shares of Forestar Group Inc. (NYSE:FOR) by 2.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,166 shares of the oil and gas exploration company’s stock after purchasing an additional 370 shares during the quarter. Sierra Summit Advisors LLC’s holdings in Forestar Group were worth $549,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Transcendent Capital Group LLC purchased a new position in shares of Forestar Group during the 1st quarter valued at $32,000. EverSource Wealth Advisors LLC raised its holdings in 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 acquiring an additional 495 shares during the period. Family Firm Inc. purchased a new position in shares of Forestar Group in the second quarter valued at about $34,000. CWM LLC boosted its stake in shares of Forestar Group by 111.6% in the second quarter. CWM LLC now owns 1,060 shares of the oil and gas exploration company’s stock worth $34,000 after acquiring an additional 559 shares during the period. Finally, Innealta Capital LLC purchased a new stake in shares of Forestar Group during the second quarter worth about $112,000. 35.50% of the stock is currently owned by institutional investors.

Forestar Group Price Performance

Shares of Forestar Group stock opened at $31.69 on Monday. The firm has a market cap of $1.60 billion, a PE ratio of 7.88 and a beta of 1.76. The stock has a 50 day moving average of $30.83 and a 200 day moving average of $33.07. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.47. Forestar Group Inc. has a 12 month low of $22.71 and a 12 month high of $40.92.

Forestar Group (NYSE:FOR) last posted its earnings results 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 business had revenue of $318.40 million during the quarter, compared to analysts’ expectations of $370.50 million. Forestar Group had a net margin of 12.89% and a return on equity of 13.48%. On average, research analysts expect that Forestar Group Inc. will post 3.72 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. 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. Citigroup lowered their target price on shares of Forestar Group from $46.00 to $43.00 and set a “buy” rating on the stock in a report on Tuesday, July 2nd. Finally, BTIG Research cut their target price 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.

Insiders Place Their Bets

In related 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 owns 1,548 shares of the company’s stock, valued at approximately $49,907.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director G.F. (Rick) Ringler III sold 2,000 shares of Forestar Group stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $31.38, for a total value of $62,760.00. Following the completion of the transaction, the director now owns 7,951 shares in the company, valued at approximately $249,502.38. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Elizabeth Parmer sold 1,547 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $32.24, for a total value of $49,875.28. Following the transaction, the director now directly owns 1,548 shares in the company, valued at approximately $49,907.52. The disclosure for this sale can be found here. Insiders sold 5,095 shares of company stock valued at $159,887 in the last three months. Corporate insiders own 0.49% of the company’s stock.

Forestar Group Company Profile

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.