Verition Fund Management LLC Buys New Position in Forestar Group Inc. (NYSE:FOR)

Verition Fund Management LLC bought a new stake in Forestar Group Inc. (NYSE:FOR) during the third quarter, Holdings Channel.com reports. The fund bought 10,400 shares of the oil and gas exploration company’s stock, valued at approximately $337,000.

Other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in shares of Forestar Group by 9.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,438,669 shares of the oil and gas exploration company’s stock valued at $78,012,000 after buying an additional 201,032 shares during the period. Woodson Capital Management LP raised its holdings in Forestar Group by 12.0% in the 3rd quarter. Woodson Capital Management LP now owns 560,000 shares of the oil and gas exploration company’s stock valued at $18,127,000 after acquiring an additional 60,000 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Forestar Group by 22.5% in the 2nd quarter. American Century Companies Inc. now owns 461,388 shares of the oil and gas exploration company’s stock worth $14,760,000 after acquiring an additional 84,861 shares during the period. Principal Financial Group Inc. lifted its position in shares of Forestar Group by 13.7% in the 3rd quarter. Principal Financial Group Inc. now owns 360,471 shares of the oil and gas exploration company’s stock worth $11,668,000 after acquiring an additional 43,369 shares during the period. Finally, Empowered Funds LLC grew its holdings in shares of Forestar Group by 3.8% during the 3rd quarter. Empowered Funds LLC now owns 317,989 shares of the oil and gas exploration company’s stock worth $10,293,000 after purchasing an additional 11,780 shares in the last quarter. 35.50% of the stock is owned by institutional investors.

Forestar Group Stock Performance

Shares of NYSE FOR opened at $27.84 on Friday. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 6.94 and a beta of 1.72. Forestar Group Inc. has a one year low of $27.35 and a one year high of $40.92. The business has a fifty day simple moving average of $30.57 and a 200 day simple moving average of $31.16. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.44.

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

Insider Buying and Selling

In related news, Director G.F. (Rick) Ringler III sold 2,000 shares of the business’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $32.58, for a total value of $65,160.00. Following the sale, the director now owns 5,951 shares of the company’s stock, valued at $193,883.58. The trade was a 25.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.49% of the company’s stock.

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.