Connor Clark & Lunn Investment Management Ltd. Has $406,000 Holdings in Forestar Group Inc. (NYSE:FOR)

Connor Clark & Lunn Investment Management Ltd. increased its stake in Forestar Group Inc. (NYSE:FOR) by 77.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,668 shares of the oil and gas exploration company’s stock after acquiring an additional 6,837 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Forestar Group were worth $406,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Point72 DIFC Ltd acquired a new stake in Forestar Group in the third quarter worth $32,000. R Squared Ltd bought a new position in shares of Forestar Group during the 4th quarter worth about $95,000. Heck Capital Advisors LLC acquired a new stake in shares of Forestar Group in the 4th quarter valued at about $112,000. SG Americas Securities LLC increased its position in 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 valued at $148,000 after buying an additional 1,731 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in Forestar Group by 10.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 6,562 shares of the oil and gas exploration company’s stock worth $170,000 after buying an additional 602 shares during the period. Institutional investors and hedge funds own 35.50% of the company’s stock.

Analyst Ratings Changes

FOR has been the subject of several recent research reports. StockNews.com upgraded Forestar Group from a “sell” rating to a “hold” rating in a report on Wednesday, February 26th. Citigroup lowered their price objective on shares of Forestar Group from $39.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Forestar Group from $37.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, January 28th.

Forestar Group Stock Down 2.9 %

Shares of NYSE:FOR opened at $21.78 on Monday. Forestar Group Inc. has a 12-month low of $20.70 and a 12-month high of $40.92. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.50. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 6.10 and a beta of 1.75. The business’s 50 day moving average is $23.26 and its 200 day moving average is $27.55.

Forestar Group (NYSE:FOR) last issued its quarterly earnings data on Tuesday, January 21st. The oil and gas exploration company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.33). The firm had revenue of $250.40 million during 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 for the quarter was down 18.1% on a year-over-year basis. On average, sell-side analysts forecast that Forestar Group Inc. will post 3.44 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Anthony W. Oxley purchased 4,300 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were bought at an average cost of $23.14 per share, with a total value of $99,502.00. Following the acquisition, the chief executive officer now owns 4,300 shares of the company’s stock, valued at $99,502. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.40% of the stock is currently owned by corporate insiders.

About Forestar Group

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.