AlphaQuest LLC Boosts Stock Position in Forestar Group Inc. (NYSE:FOR)

AlphaQuest LLC raised its stake in Forestar Group Inc. (NYSE:FOR) by 30.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 19,400 shares of the oil and gas exploration company’s stock after buying an additional 4,580 shares during the quarter. AlphaQuest LLC’s holdings in Forestar Group were worth $503,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its holdings in Forestar Group by 13.7% in the third quarter. Principal Financial Group Inc. now owns 360,471 shares of the oil and gas exploration company’s stock worth $11,668,000 after acquiring an additional 43,369 shares in the last quarter. Empowered Funds LLC boosted its holdings in Forestar Group by 3.9% in the fourth quarter. Empowered Funds LLC now owns 330,462 shares of the oil and gas exploration company’s stock worth $8,566,000 after acquiring an additional 12,473 shares in the last quarter. Barclays PLC boosted its holdings in Forestar Group by 20.3% in the third quarter. Barclays PLC now owns 57,622 shares of the oil and gas exploration company’s stock worth $1,865,000 after acquiring an additional 9,733 shares in the last quarter. Swedbank AB acquired a new stake in Forestar Group in the fourth quarter worth about $1,296,000. Finally, Los Angeles Capital Management LLC boosted its holdings in Forestar Group by 73.5% in the third quarter. Los Angeles Capital Management LLC now owns 62,237 shares of the oil and gas exploration company’s stock worth $2,015,000 after acquiring an additional 26,360 shares in the last quarter. Institutional investors and hedge funds own 35.50% of the company’s stock.

Forestar Group Price Performance

Shares of NYSE:FOR opened at $21.32 on Thursday. Forestar Group Inc. has a twelve month low of $21.13 and a twelve month high of $40.92. The company’s 50 day moving average is $23.89 and its 200 day moving average is $28.05. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.50. The company has a market cap of $1.08 billion, a PE ratio of 5.97 and a beta of 1.75.

Forestar Group (NYSE:FOR) last released 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 return on equity of 11.74% and a net margin of 12.50%. The company had revenue of $250.40 million during the quarter, compared to analysts’ expectations of $318.00 million. The business’s revenue was down 18.1% on a year-over-year basis. On average, sell-side analysts forecast that Forestar Group Inc. will post 3.44 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Anthony W. Oxley acquired 4,300 shares of the stock in a transaction on Friday, February 14th. The shares were acquired at an average price of $23.14 per share, for a total transaction of $99,502.00. Following the transaction, the chief executive officer now owns 4,300 shares in the company, valued at approximately $99,502. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.40% of the company’s stock.

Wall Street Analyst Weigh In

FOR has been the subject of several recent analyst reports. StockNews.com raised Forestar Group from a “sell” rating to a “hold” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. dropped their target price on Forestar Group from $37.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. Finally, Citigroup cut their price target on shares of Forestar Group from $39.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd.

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.