Short Interest in Forestar Group Inc. (NYSE:FOR) Decreases By 10.6%

Forestar Group Inc. (NYSE:FOR) was the target of a large decline in short interest in August. As of August 31st, there was short interest totalling 408,000 shares, a decline of 10.6% from the August 15th total of 456,400 shares. Based on an average daily volume of 195,300 shares, the short-interest ratio is currently 2.1 days. Currently, 2.2% of the company’s stock are short sold.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Forestar Group by 1.0% in the first quarter. Vanguard Group Inc. now owns 2,805,957 shares of the oil and gas exploration company’s stock worth $112,771,000 after purchasing an additional 28,379 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Forestar Group by 9.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,438,669 shares of the oil and gas exploration company’s stock worth $78,012,000 after buying an additional 201,032 shares during the last quarter. American Century Companies Inc. raised its position in Forestar Group by 22.5% during the 2nd quarter. American Century Companies Inc. now owns 461,388 shares of the oil and gas exploration company’s stock worth $14,760,000 after buying an additional 84,861 shares during the last quarter. Bridgeway Capital Management LLC lifted its stake in Forestar Group by 11.0% during the 1st quarter. Bridgeway Capital Management LLC now owns 439,892 shares of the oil and gas exploration company’s stock valued at $17,679,000 after acquiring an additional 43,457 shares during the period. Finally, Woodson Capital Management LP purchased a new stake in shares of Forestar Group in the 1st quarter valued at $13,367,000. Institutional investors and hedge funds own 35.50% of the company’s stock.

Analyst Ratings Changes

FOR has been the subject of a number of analyst reports. Citigroup decreased their price objective on Forestar Group from $46.00 to $43.00 and set a “buy” rating for the company in a research note on Tuesday, July 2nd. BTIG Research decreased their price target on shares of Forestar Group from $41.00 to $37.00 and set a “buy” rating for the company in a research report on Friday, July 19th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Forestar Group from $37.50 to $36.00 and set a “neutral” rating on the stock in a research report on Thursday, July 25th.

Forestar Group Stock Up 3.6 %

FOR stock traded up $1.16 on Tuesday, hitting $33.06. 103,459 shares of the company’s stock were exchanged, compared to its average volume of 206,037. The firm has a 50 day moving average price of $30.85 and a two-hundred day moving average price of $33.06. Forestar Group has a 12-month low of $22.71 and a 12-month high of $40.92. The stock has a market cap of $1.67 billion, a P/E ratio of 8.25 and a beta of 1.76. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.50 and a current ratio of 1.50.

Forestar Group (NYSE:FOR) last issued its quarterly 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). Forestar Group had a return on equity of 13.48% and a net margin of 12.89%. The business had revenue of $318.40 million for the quarter, compared to analysts’ expectations of $370.50 million. As a group, equities research analysts expect 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.