NewEdge Advisors LLC Makes New Investment in Forestar Group Inc. (NYSE:FOR)

NewEdge Advisors LLC purchased a new stake in shares of Forestar Group Inc. (NYSE:FOR) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 2,950 shares of the oil and gas exploration company’s stock, valued at approximately $76,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. R Squared Ltd bought a new stake in Forestar Group during the fourth quarter valued at approximately $95,000. Heck Capital Advisors LLC bought a new stake in shares of Forestar Group during the 4th quarter worth $112,000. SG Americas Securities LLC grew its position in Forestar Group by 43.3% in 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 acquiring an additional 1,731 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Forestar Group by 10.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 6,562 shares of the oil and gas exploration company’s stock valued at $170,000 after acquiring an additional 602 shares during the last quarter. Finally, Capula Management Ltd bought a new stake in Forestar Group during the fourth quarter worth about $243,000. Hedge funds and other institutional investors own 35.50% of the company’s stock.

Insider Activity at Forestar Group

In other Forestar Group news, CEO Anthony W. Oxley acquired 4,300 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were purchased at an average cost 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 $99,502. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on FOR shares. StockNews.com raised Forestar Group from a “sell” rating to a “hold” rating in a report on Wednesday, February 26th. BTIG Research decreased their price target on shares of Forestar Group from $36.00 to $29.00 and set a “buy” rating on the stock in a research note on Monday, April 21st. JPMorgan Chase & Co. cut 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. Finally, Citigroup lowered their price target 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.

Forestar Group Stock Performance

NYSE:FOR opened at $20.02 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.50 and a current ratio of 0.50. Forestar Group Inc. has a fifty-two week low of $18.00 and a fifty-two week high of $37.21. The firm has a market cap of $1.02 billion, a PE ratio of 5.61 and a beta of 1.53. The business has a 50 day moving average price of $20.76 and a 200-day moving average price of $25.00.

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

Forestar Group Profile

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.