Cwm LLC Sells 952 Shares of Forestar Group Inc (NYSE:FOR)

Cwm LLC reduced its position in Forestar Group Inc (NYSE:FOR) by 30.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,211 shares of the oil and gas exploration company’s stock after selling 952 shares during the quarter. Cwm LLC’s holdings in Forestar Group were worth $47,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Lazard Asset Management LLC bought a new stake in shares of Forestar Group during the 4th quarter valued at approximately $38,000. NewEdge Advisors LLC bought a new stake in shares of Forestar Group during the 4th quarter valued at approximately $76,000. Heck Capital Advisors LLC bought a new stake in shares of Forestar Group during the 4th quarter valued at approximately $112,000. Mercer Global Advisors Inc. ADV grew its holdings in shares of Forestar Group by 27.8% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 8,535 shares of the oil and gas exploration company’s stock valued at $221,000 after purchasing an additional 1,856 shares during the last quarter. Finally, Capula Management Ltd bought a new stake in shares of Forestar Group during the 4th quarter valued at approximately $243,000. 35.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on FOR shares. Citizens Jmp started coverage on shares of Forestar Group in a research note on Tuesday, July 15th. They set an “outperform” rating and a $30.00 price target for the company. JMP Securities set a $30.00 price target on shares of Forestar Group and gave the company a “market outperform” rating in a research note on Tuesday, July 15th. Citigroup started coverage on shares of Forestar Group in a research note on Tuesday, July 15th. They set an “outperform” rating for the company. Finally, BTIG Research dropped their price target on shares of Forestar Group from $36.00 to $29.00 and set a “buy” rating for the company in a research note on Monday, April 21st. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Forestar Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.20.

Insider Activity at Forestar Group

In other news, Director Elizabeth Parmer sold 1,460 shares of the company’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $20.57, for a total value of $30,032.20. Following the sale, the director directly owned 3,357 shares of the company’s stock, valued at approximately $69,053.49. This represents a 30.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.40% of the company’s stock.

Forestar Group Trading Up 1.0%

NYSE:FOR opened at $25.06 on Monday. The firm’s fifty day moving average is $21.34 and its 200-day moving average is $21.42. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.73 and a current ratio of 0.73. Forestar Group Inc has a 52 week low of $18.00 and a 52 week high of $34.82. The firm has a market cap of $1.27 billion, a P/E ratio of 7.86 and a beta of 1.39.

Forestar Group (NYSE:FOR) last posted its quarterly earnings data on Tuesday, July 22nd. The oil and gas exploration company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.13). Forestar Group had a net margin of 10.54% and a return on equity of 10.02%. The firm had revenue of $390.50 million during the quarter, compared to the consensus estimate of $397.50 million. During the same period in the prior year, the company posted $0.76 earnings per share. The company’s revenue for the quarter was up 22.6% compared to the same quarter last year. Equities analysts expect that Forestar Group Inc will post 3.44 earnings per share for the current year.

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.