Millennium Management LLC Lowers Position in Forestar Group Inc. (NYSE:FOR)

Millennium Management LLC lessened its stake in shares of Forestar Group Inc. (NYSE:FOR) by 24.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 324,477 shares of the oil and gas exploration company’s stock after selling 104,808 shares during the period. Millennium Management LLC owned 0.64% of Forestar Group worth $8,410,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Barclays PLC lifted its position in shares of Forestar Group by 20.3% during the 3rd quarter. Barclays PLC now owns 57,622 shares of the oil and gas exploration company’s stock valued at $1,865,000 after buying an additional 9,733 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of 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 purchasing an additional 1,731 shares during the period. Exchange Traded Concepts LLC purchased a new stake in shares of Forestar Group in the fourth quarter worth $290,000. R Squared Ltd purchased a new stake in shares of Forestar Group in the fourth quarter worth $95,000. Finally, Swedbank AB bought a new stake in shares of Forestar Group during the 4th quarter valued at $1,296,000. Hedge funds and other institutional investors own 35.50% of the company’s stock.

Forestar Group Stock Performance

Shares of NYSE FOR opened at $18.88 on Monday. The company has a market cap of $959.30 million, a P/E ratio of 5.29 and a beta of 1.46. Forestar Group Inc. has a 52-week low of $18.00 and a 52-week high of $37.21. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.50 and a current ratio of 0.50. The firm’s fifty day moving average is $20.13 and its two-hundred day moving average is $23.67.

Forestar Group (NYSE:FOR) last issued 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). Forestar Group had a return on equity of 11.74% and a net margin of 12.50%. The firm had revenue of $351.00 million during the quarter, compared to the consensus estimate of $379.60 million. As a group, analysts anticipate that Forestar Group Inc. will post 3.44 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on FOR shares. JPMorgan Chase & Co. cut their price target on Forestar Group from $37.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th. BTIG Research cut their target price on Forestar Group from $36.00 to $29.00 and set a “buy” rating for the company in a research report on Monday, April 21st. Finally, Wall Street Zen raised Forestar Group from a “sell” rating to a “hold” rating in a report on Wednesday, February 26th.

Insider Buying and Selling

In other news, Director Elizabeth Parmer sold 1,460 shares of Forestar Group stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $20.57, for a total value of $30,032.20. Following the completion of the transaction, the director now owns 3,357 shares in the company, valued at approximately $69,053.49. The trade was a 30.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.40% of the stock is currently owned by company insiders.

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.