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

Forestar Group Inc. (NYSE:FOR) was the target of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 404,000 shares, an increase of 28.0% from the December 15th total of 315,700 shares. Based on an average trading volume of 126,200 shares, the days-to-cover ratio is currently 3.2 days. Approximately 2.1% of the company’s stock are sold short.

Forestar Group Trading Down 1.7 %

Shares of FOR stock traded down $0.46 during mid-day trading on Friday, reaching $26.80. 161,634 shares of the stock traded hands, compared to its average volume of 121,565. The stock’s fifty day simple moving average is $27.68 and its two-hundred day simple moving average is $30.08. Forestar Group has a 1-year low of $24.81 and a 1-year high of $40.92. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. The company has a market cap of $1.36 billion, a price-to-earnings ratio of 6.68 and a beta of 1.74.

Forestar Group (NYSE:FOR) last posted 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 return on equity of 13.59% and a net margin of 13.48%. The business had revenue of $551.40 million during the quarter, compared to the consensus estimate of $503.76 million. During the same period in the prior year, the business posted $1.44 earnings per share. Forestar Group’s quarterly revenue was up .3% on a year-over-year basis. On average, research analysts anticipate that Forestar Group will post 3.67 EPS for the current fiscal year.

Hedge Funds Weigh In On Forestar Group

Several institutional investors have recently added to or reduced their stakes in FOR. Point72 DIFC Ltd acquired a new position in shares of Forestar Group during the 3rd quarter valued at $32,000. nVerses Capital LLC increased its position in shares of Forestar Group by 500.0% during the third quarter. nVerses Capital LLC now owns 1,200 shares of the oil and gas exploration company’s stock worth $39,000 after acquiring an additional 1,000 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Forestar Group by 474.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,311 shares of the oil and gas exploration company’s stock valued at $168,000 after purchasing an additional 4,387 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Forestar Group during the third quarter valued at approximately $172,000. Finally, SG Americas Securities LLC grew its holdings in Forestar Group by 43.3% during the fourth quarter. SG Americas Securities LLC now owns 5,727 shares of the oil and gas exploration company’s stock worth $148,000 after buying an additional 1,731 shares in the last quarter. 35.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Citigroup reduced their target price on shares of Forestar Group from $43.00 to $39.00 and set a “buy” rating for the company in a report on Monday, January 6th.

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.