Los Angeles Capital Management LLC Sells 29,990 Shares of Forestar Group Inc. (NYSE:FOR)

Los Angeles Capital Management LLC trimmed its position in shares of Forestar Group Inc. (NYSE:FOR) by 45.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,877 shares of the oil and gas exploration company’s stock after selling 29,990 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Forestar Group were worth $1,148,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its position in shares of Forestar Group by 89.2% during the second quarter. Victory Capital Management Inc. now owns 11,408 shares of the oil and gas exploration company’s stock worth $365,000 after purchasing an additional 5,377 shares in the last quarter. Rhumbline Advisers lifted its position in Forestar Group by 4.0% in the 2nd quarter. Rhumbline Advisers now owns 31,098 shares of the oil and gas exploration company’s stock valued at $995,000 after acquiring an additional 1,186 shares in the last quarter. Hussman Strategic Advisors Inc. lifted its position in Forestar Group by 75.0% in the 2nd quarter. Hussman Strategic Advisors Inc. now owns 63,000 shares of the oil and gas exploration company’s stock valued at $2,015,000 after acquiring an additional 27,000 shares in the last quarter. Ritholtz Wealth Management lifted its position in Forestar Group by 4.7% in the 2nd quarter. Ritholtz Wealth Management now owns 56,653 shares of the oil and gas exploration company’s stock valued at $1,812,000 after acquiring an additional 2,552 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in Forestar Group by 2,409.9% in the 2nd quarter. Principal Financial Group Inc. now owns 317,102 shares of the oil and gas exploration company’s stock valued at $10,144,000 after acquiring an additional 304,468 shares in the last quarter. 35.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

FOR has been the topic of several research reports. BTIG Research cut their price objective on shares of Forestar Group from $41.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, July 19th. Citigroup cut their price objective on shares of Forestar Group from $46.00 to $43.00 and set a “buy” rating on the stock in a research report on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. cut their price objective on shares of Forestar Group from $37.50 to $36.00 and set a “neutral” rating on the stock in a research report on Thursday, July 25th.

Insider Buying and Selling at Forestar Group

In other Forestar Group news, Director Elizabeth Parmer sold 1,547 shares of Forestar Group stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $32.24, for a total value of $49,875.28. Following the sale, the director now directly owns 1,548 shares in the company, valued at approximately $49,907.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Elizabeth Parmer sold 1,547 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $32.24, for a total transaction of $49,875.28. Following the transaction, the director now directly owns 1,548 shares in the company, valued at approximately $49,907.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director G.F. (Rick) Ringler III sold 2,000 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $31.38, for a total transaction of $62,760.00. Following the transaction, the director now owns 7,951 shares in the company, valued at $249,502.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,095 shares of company stock worth $159,887. Insiders own 0.49% of the company’s stock.

Forestar Group Stock Up 1.4 %

Shares of FOR stock opened at $30.33 on Thursday. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.47. Forestar Group Inc. has a 1 year low of $22.71 and a 1 year high of $40.92. The firm’s fifty day moving average price is $30.79 and its two-hundred day moving average price is $33.12. The firm has a market capitalization of $1.53 billion, a P/E ratio of 7.54 and a beta of 1.76.

Forestar Group (NYSE:FOR) last issued its quarterly earnings results on Thursday, July 18th. The oil and gas exploration company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.13). Forestar Group had a net margin of 12.89% and a return on equity of 13.48%. The business had revenue of $318.40 million during the quarter, compared to analyst estimates of $370.50 million. On average, equities analysts predict that Forestar Group Inc. will post 3.72 EPS for the current fiscal year.

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.