Allspring Global Investments Holdings LLC Cuts Stock Position in Forestar Group Inc. (NYSE:FOR)

Allspring Global Investments Holdings LLC lessened its holdings in Forestar Group Inc. (NYSE:FOR) by 65.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,028 shares of the oil and gas exploration company’s stock after selling 26,320 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Forestar Group were worth $364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in FOR. Point72 DIFC Ltd purchased a new position in shares of Forestar Group in the 3rd quarter worth about $32,000. R Squared Ltd purchased a new stake in shares of Forestar Group during the 4th quarter worth approximately $95,000. Heck Capital Advisors LLC purchased a new stake in shares of Forestar Group during the 4th quarter worth approximately $112,000. SG Americas Securities LLC raised its holdings in shares of Forestar Group by 43.3% in the 4th quarter. SG Americas Securities LLC now owns 5,727 shares of the oil and gas exploration company’s stock worth $148,000 after purchasing an additional 1,731 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Forestar Group in the third quarter valued at approximately $172,000. 35.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Anthony W. Oxley acquired 4,300 shares of the stock in a transaction dated Friday, February 14th. The shares were purchased at an average price of $23.14 per share, for a total transaction of $99,502.00. Following the transaction, the chief executive officer now owns 4,300 shares in the company, valued at $99,502. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.40% of the company’s stock.

Forestar Group Stock Performance

NYSE:FOR opened at $23.85 on Wednesday. Forestar Group Inc. has a 52-week low of $22.42 and a 52-week high of $40.92. The business’s fifty day moving average is $24.66 and its 200 day moving average is $28.59. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.50 and a current ratio of 0.50. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 6.68 and a beta of 1.72.

Forestar Group (NYSE:FOR) last posted its earnings results on Tuesday, January 21st. The oil and gas exploration company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.33). The firm had revenue of $250.40 million for the quarter, compared to the consensus estimate of $318.00 million. Forestar Group had a return on equity of 11.74% and a net margin of 12.50%. The firm’s revenue was down 18.1% on a year-over-year basis. Research analysts predict that Forestar Group Inc. will post 3.44 EPS for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on the company. JPMorgan Chase & Co. decreased their target price on Forestar Group from $37.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. Citigroup cut their price target on Forestar Group from $39.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Finally, StockNews.com upgraded Forestar Group from a “sell” rating to a “hold” rating in a research note on Wednesday.

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.