Los Angeles Capital Management LLC Boosts Stake in Forestar Group Inc. (NYSE:FOR)

Los Angeles Capital Management LLC increased its holdings in shares of Forestar Group Inc. (NYSE:FOR) by 73.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 62,237 shares of the oil and gas exploration company’s stock after acquiring an additional 26,360 shares during the period. Los Angeles Capital Management LLC owned approximately 0.12% of Forestar Group worth $2,015,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of FOR. Transcendent Capital Group LLC acquired a new stake in Forestar Group in the first quarter valued at approximately $32,000. CWM LLC grew its stake in Forestar Group by 111.6% in the 2nd quarter. CWM LLC now owns 1,060 shares of the oil and gas exploration company’s stock valued at $34,000 after acquiring an additional 559 shares during the period. Family Firm Inc. purchased a new stake in Forestar Group in the 2nd quarter worth $34,000. EverSource Wealth Advisors LLC raised its position in Forestar Group by 115.4% during the first quarter. EverSource Wealth Advisors LLC now owns 924 shares of the oil and gas exploration company’s stock worth $37,000 after acquiring an additional 495 shares during the period. Finally, nVerses Capital LLC lifted its holdings in Forestar Group by 500.0% during the third quarter. nVerses Capital LLC now owns 1,200 shares of the oil and gas exploration company’s stock valued at $39,000 after purchasing an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 35.50% of the company’s stock.

Insiders Place Their Bets

In other news, Director G.F. (Rick) Ringler III sold 2,000 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $32.58, for a total transaction of $65,160.00. Following the transaction, the director now owns 5,951 shares of the company’s stock, valued at approximately $193,883.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.49% of the company’s stock.

Forestar Group Price Performance

Shares of NYSE FOR opened at $29.54 on Thursday. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of 7.37 and a beta of 1.76. Forestar Group Inc. has a 52 week low of $27.49 and a 52 week high of $40.92. The firm has a 50-day simple moving average of $31.76 and a 200-day simple moving average of $31.82. The company has a quick ratio of 1.50, a current ratio of 1.61 and a debt-to-equity ratio of 0.44.

Forestar Group (NYSE:FOR) last released its earnings results on Tuesday, October 29th. The oil and gas exploration company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.29. Forestar Group had a net margin of 13.48% and a return on equity of 13.59%. The business had revenue of $551.40 million for the quarter, compared to analyst estimates of $503.76 million. During the same period last year, the company posted $1.44 EPS. The business’s revenue was up .3% on a year-over-year basis. On average, equities analysts predict that Forestar Group Inc. will post 3.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FOR has been the subject of a number of research reports. JPMorgan Chase & Co. cut their target price on shares of Forestar Group from $37.50 to $36.00 and set a “neutral” rating for the company in a research note on Thursday, July 25th. BTIG Research reduced their target price on Forestar Group from $41.00 to $37.00 and set a “buy” rating for the company in a report on Friday, July 19th.

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.