Renaissance Technologies LLC Grows Position in Forestar Group Inc. (NYSE:FOR)

Renaissance Technologies LLC lifted its position in Forestar Group Inc. (NYSE:FOR) by 14.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 190,580 shares of the oil and gas exploration company’s stock after purchasing an additional 24,100 shares during the period. Renaissance Technologies LLC owned about 0.38% of Forestar Group worth $4,940,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. R Squared Ltd purchased a new position in shares of Forestar Group in the fourth quarter valued at about $95,000. Heck Capital Advisors LLC bought a new position in Forestar Group during the 4th quarter valued at approximately $112,000. SG Americas Securities LLC lifted its holdings in Forestar Group by 43.3% in the 4th 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 during the period. EverSource Wealth Advisors LLC grew its position in shares of Forestar Group by 10.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 6,562 shares of the oil and gas exploration company’s stock worth $170,000 after buying an additional 602 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in shares of Forestar Group during the third quarter valued at approximately $233,000. 35.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FOR has been the topic of several recent analyst reports. StockNews.com upgraded shares of Forestar Group from a “sell” rating to a “hold” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. reduced their price target on shares of 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 objective on Forestar Group from $39.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd.

Forestar Group Stock Down 0.5 %

Shares of Forestar Group stock opened at $18.95 on Monday. Forestar Group Inc. has a 1 year low of $18.00 and a 1 year high of $37.21. The firm has a market cap of $960.29 million, a price-to-earnings ratio of 5.31 and a beta of 1.53. The company has a 50-day moving average of $21.48 and a 200 day moving average of $25.81. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.50 and a quick ratio of 0.50.

Forestar Group (NYSE:FOR) last released its earnings results on Thursday, April 17th. The oil and gas exploration company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.07). The business had revenue of $351.00 million for the quarter, compared to analysts’ expectations of $379.60 million. Forestar Group had a net margin of 12.50% and a return on equity of 11.74%. As a group, sell-side analysts anticipate that Forestar Group Inc. will post 3.44 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Anthony W. Oxley acquired 4,300 shares of Forestar Group stock in a transaction on Friday, February 14th. The stock was acquired at an average cost of $23.14 per share, for a total transaction of $99,502.00. Following the purchase, the chief executive officer now owns 4,300 shares in the company, valued at $99,502. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.40% of the company’s stock.

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.