Forestar Group Inc $FOR Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC cut its stake in Forestar Group Inc (NYSE:FOR) by 6.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,833 shares of the oil and gas exploration company’s stock after selling 883 shares during the quarter. Hsbc Holdings PLC’s holdings in Forestar Group were worth $291,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of FOR. Signaturefd LLC lifted its holdings in Forestar Group by 119.1% in the first quarter. Signaturefd LLC now owns 1,514 shares of the oil and gas exploration company’s stock valued at $32,000 after acquiring an additional 823 shares during the period. Lazard Asset Management LLC acquired a new position in shares of Forestar Group during the 4th quarter worth approximately $38,000. Heck Capital Advisors LLC acquired a new position in shares of Forestar Group during the 4th quarter worth approximately $112,000. Mercer Global Advisors Inc. ADV raised its stake 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 worth $221,000 after buying an additional 1,856 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Forestar Group by 263,300.0% during the 1st quarter. GAMMA Investing LLC now owns 13,170 shares of the oil and gas exploration company’s stock worth $278,000 after buying an additional 13,165 shares during the period. 35.50% of the stock is owned by institutional investors and hedge funds.

Forestar Group Stock Up 2.7%

Shares of FOR opened at $28.20 on Friday. 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 one year low of $18.00 and a one year high of $34.82. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of 8.84 and a beta of 1.43. The stock has a 50 day moving average price of $24.90 and a 200 day moving average price of $22.01.

Forestar Group (NYSE:FOR) last issued its quarterly earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.13). The firm had revenue of $390.50 million for the quarter, compared to analysts’ expectations of $397.50 million. Forestar Group had a return on equity of 10.02% and a net margin of 10.54%.The firm’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.76 earnings per share. Forestar Group has set its FY 2025 guidance at EPS. Equities research analysts forecast that Forestar Group Inc will post 3.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on FOR shares. Citigroup started coverage on Forestar Group in a research note on Tuesday, July 15th. They set an “outperform” rating for the company. JMP Securities set a $30.00 target price on Forestar Group and gave the stock a “market outperform” rating in a research note on Tuesday, July 15th. Finally, Citizens Jmp started coverage on Forestar Group in a research note on Tuesday, July 15th. They set an “outperform” rating and a $30.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Forestar Group presently has an average rating of “Buy” and a consensus target price of $30.20.

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.