Dark Forest Capital Management LP Buys 3,538 Shares of Forestar Group Inc. (NYSE:FOR)

Dark Forest Capital Management LP lifted its stake in Forestar Group Inc. (NYSE:FOR) by 17.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,730 shares of the oil and gas exploration company’s stock after buying an additional 3,538 shares during the period. Dark Forest Capital Management LP’s holdings in Forestar Group were worth $759,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Sierra Summit Advisors LLC increased its stake in Forestar Group by 2.2% in the 2nd quarter. Sierra Summit Advisors LLC now owns 17,166 shares of the oil and gas exploration company’s stock worth $549,000 after purchasing an additional 370 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Forestar Group by 115.4% in the first quarter. EverSource Wealth Advisors LLC now owns 924 shares of the oil and gas exploration company’s stock worth $37,000 after purchasing an additional 495 shares during the last quarter. CWM LLC increased its stake in shares of Forestar Group by 111.6% in the second quarter. CWM LLC now owns 1,060 shares of the oil and gas exploration company’s stock worth $34,000 after buying an additional 559 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Forestar Group by 7.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,997 shares of the oil and gas exploration company’s stock valued at $442,000 after buying an additional 781 shares during the last quarter. Finally, Transcendent Capital Group LLC purchased a new stake in Forestar Group during the 1st quarter valued at $32,000. Institutional investors own 35.50% of the company’s stock.

Analyst Ratings Changes

FOR has been the topic of a number of analyst reports. BTIG Research decreased 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 reduced their price target on Forestar Group from $46.00 to $43.00 and set a “buy” rating on the stock in a report on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. dropped their price objective on Forestar Group from $37.50 to $36.00 and set a “neutral” rating for the company in a report on Thursday, July 25th.

Forestar Group Stock Up 1.6 %

Shares of NYSE FOR opened at $32.21 on Friday. The firm has a fifty day simple moving average of $30.77 and a two-hundred day simple moving average of $32.95. The firm has a market capitalization of $1.63 billion, a PE ratio of 8.01 and a beta of 1.76. 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 12 month low of $22.71 and a 12 month high of $40.92.

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

Insider Activity

In related news, Director Elizabeth Parmer sold 1,547 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was 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 of the company’s stock, valued at $49,907.52. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold a total of 3,095 shares of company stock worth $97,127 in the last quarter. 0.49% of the stock is owned by company insiders.

Forestar Group 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.