Insider Buying: Forestar Group Inc. (NYSE:FOR) CEO Buys $99,502.00 in Stock

Forestar Group Inc. (NYSE:FOR) CEO Anthony W. Oxley bought 4,300 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was bought at an average price of $23.14 per share, with a total value of $99,502.00. Following the completion of the purchase, the chief executive officer now directly owns 4,300 shares in the company, valued at $99,502. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Forestar Group Stock Performance

Shares of NYSE FOR opened at $23.04 on Friday. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.50. Forestar Group Inc. has a 12 month low of $22.42 and a 12 month high of $40.92. The company has a 50 day simple moving average of $24.92 and a two-hundred day simple moving average of $28.70. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 6.45 and a beta of 1.72.

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

Analysts Set New Price Targets

A number of research firms recently commented on FOR. StockNews.com cut shares of Forestar Group from a “hold” rating to a “sell” rating in a research note on Tuesday. Citigroup decreased 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 note on Thursday, January 23rd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Forestar Group from $37.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th.

Hedge Funds Weigh In On Forestar Group

Several large investors have recently made changes to their positions in FOR. Dimensional Fund Advisors LP increased its holdings in Forestar Group by 4.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,721,534 shares of the oil and gas exploration company’s stock worth $70,541,000 after acquiring an additional 119,357 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Forestar Group by 406.1% in the 4th quarter. Janus Henderson Group PLC now owns 125,408 shares of the oil and gas exploration company’s stock worth $3,247,000 after acquiring an additional 100,629 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in Forestar Group by 26.4% in the 4th quarter. First Eagle Investment Management LLC now owns 479,669 shares of the oil and gas exploration company’s stock worth $12,433,000 after acquiring an additional 100,100 shares in the last quarter. Crestline Management LP purchased a new stake in Forestar Group in the 4th quarter worth $2,333,000. Finally, First Trust Advisors LP increased its holdings in Forestar Group by 197.8% in the 4th quarter. First Trust Advisors LP now owns 128,989 shares of the oil and gas exploration company’s stock worth $3,343,000 after acquiring an additional 85,669 shares in the last quarter. 35.50% of the stock is currently owned by institutional investors and hedge funds.

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.