Forestar Group Inc. (NYSE:FOR) Shares Purchased by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV boosted its holdings in Forestar Group Inc. (NYSE:FOR) by 27.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,535 shares of the oil and gas exploration company’s stock after purchasing an additional 1,856 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Forestar Group were worth $221,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in FOR. 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 purchasing an additional 9,733 shares during the period. Franklin Resources Inc. boosted its holdings in Forestar Group by 2.3% in the third quarter. Franklin Resources Inc. now owns 55,068 shares of the oil and gas exploration company’s stock worth $1,748,000 after purchasing an additional 1,218 shares during the period. Principal Financial Group Inc. lifted its stake 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 valued at $11,668,000 after buying an additional 43,369 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Forestar Group by 37.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 21,650 shares of the oil and gas exploration company’s stock valued at $561,000 after buying an additional 5,847 shares during the last quarter. Finally, Hennessy Advisors Inc. lifted its stake in Forestar Group by 6.9% in the fourth quarter. Hennessy Advisors Inc. now owns 254,000 shares of the oil and gas exploration company’s stock valued at $6,584,000 after buying an additional 16,300 shares during the last quarter. Institutional investors and hedge funds own 35.50% of the company’s stock.

Insider Activity at Forestar Group

In related news, Director Elizabeth Parmer sold 1,460 shares of Forestar Group stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $20.57, for a total transaction of $30,032.20. Following the sale, the director now directly owns 3,357 shares in the company, valued at $69,053.49. The trade was a 30.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.40% of the company’s stock.

Forestar Group Price Performance

Shares of NYSE FOR opened at $20.20 on Friday. Forestar Group Inc. has a fifty-two week low of $18.00 and a fifty-two week high of $37.21. The firm’s 50-day simple moving average is $20.36 and its 200 day simple moving average is $24.22. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.50. The stock has a market cap of $1.03 billion, a P/E ratio of 5.66 and a beta of 1.46.

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Citigroup cut their target price on Forestar Group from $39.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. StockNews.com upgraded Forestar Group from a “sell” rating to a “hold” rating in a research note on Wednesday, February 26th. JPMorgan Chase & Co. cut their target price 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. Finally, BTIG Research cut their target price on Forestar Group from $36.00 to $29.00 and set a “buy” rating on the stock in a research note on Monday, April 21st.

Forestar Group Company 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.