Swedbank AB Invests $1.30 Million in Forestar Group Inc. (NYSE:FOR)

Swedbank AB purchased a new position in shares of Forestar Group Inc. (NYSE:FOR) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 50,000 shares of the oil and gas exploration company’s stock, valued at approximately $1,296,000. Swedbank AB owned 0.10% of Forestar Group as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in FOR. Marshall Wace LLP purchased a new stake in Forestar Group during the second quarter valued at about $835,000. The Manufacturers Life Insurance Company raised its holdings in Forestar Group by 7.5% in the second quarter. The Manufacturers Life Insurance Company now owns 10,920 shares of the oil and gas exploration company’s stock valued at $349,000 after buying an additional 765 shares during the period. Creative Planning lifted its position in Forestar Group by 35.6% during the third quarter. Creative Planning now owns 13,600 shares of the oil and gas exploration company’s stock valued at $440,000 after buying an additional 3,569 shares in the last quarter. nVerses Capital LLC grew its stake in 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 buying an additional 1,000 shares during the period. Finally, Suncoast Equity Management acquired a new position in shares of Forestar Group during the 3rd quarter valued at $365,000. Institutional investors and hedge funds own 35.50% of the company’s stock.

Forestar Group Stock Performance

Shares of Forestar Group stock opened at $23.90 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.50 and a current ratio of 0.50. The firm has a market cap of $1.21 billion, a PE ratio of 6.69 and a beta of 1.74. Forestar Group Inc. has a 1 year low of $23.32 and a 1 year high of $40.92. The firm’s 50-day simple moving average is $26.66 and its 200-day simple moving average is $29.49.

Forestar Group (NYSE:FOR) last issued its quarterly earnings data on Tuesday, January 21st. The oil and gas exploration company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.33). Forestar Group had a return on equity of 11.74% and a net margin of 12.50%. The business had revenue of $250.40 million for the quarter, compared to analyst estimates of $318.00 million. The company’s revenue was down 18.1% compared to the same quarter last year. Equities analysts forecast that Forestar Group Inc. will post 3.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on FOR shares. JPMorgan Chase & Co. reduced their price objective on Forestar Group from $37.00 to $30.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 28th. Citigroup reduced their target price on shares of Forestar Group from $39.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Finally, StockNews.com downgraded Forestar Group from a “hold” rating to a “sell” rating in a research note on Monday, January 27th.

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.