Short Interest in Forestar Group Inc. (NYSE:FOR) Decreases By 6.2%

Forestar Group Inc. (NYSE:FOR) saw a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 393,600 shares, a drop of 6.2% from the September 15th total of 419,600 shares. Based on an average daily volume of 182,300 shares, the short-interest ratio is presently 2.2 days. Approximately 2.1% of the shares of the stock are sold short.

Forestar Group Trading Up 1.8 %

FOR stock traded up $0.58 during mid-day trading on Wednesday, reaching $32.82. The company’s stock had a trading volume of 129,792 shares, compared to its average volume of 197,832. Forestar Group has a 12 month low of $22.71 and a 12 month high of $40.92. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.47. The business’s 50 day moving average price is $31.01 and its 200 day moving average price is $32.40. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 8.16 and a beta of 1.76.

Forestar Group (NYSE:FOR) last released its earnings results on Thursday, July 18th. The oil and gas exploration company reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.13). Forestar Group had a net margin of 12.89% and a return on equity of 13.48%. The company had revenue of $318.40 million for the quarter, compared to analyst estimates of $370.50 million. On average, equities research analysts predict that Forestar Group will post 3.72 EPS for the current year.

Insider Activity

In other news, Director Elizabeth Parmer sold 1,547 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were 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 in the company, valued at approximately $49,907.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Elizabeth Parmer sold 1,547 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $32.24, for a total transaction of $49,875.28. Following the sale, the director now owns 1,548 shares of the company’s stock, valued at $49,907.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director G.F. (Rick) Ringler III sold 2,000 shares of the company’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $32.58, for a total value of $65,160.00. Following the completion of the transaction, the director now directly 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 5,095 shares of company stock worth $162,287. Insiders own 0.49% of the company’s stock.

Institutional Trading of Forestar Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FOR. Transcendent Capital Group LLC bought a new stake in shares of Forestar Group during the first quarter valued at approximately $32,000. EverSource Wealth Advisors LLC lifted its position in Forestar Group by 115.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 924 shares of the oil and gas exploration company’s stock valued at $37,000 after acquiring an additional 495 shares in the last quarter. Family Firm Inc. purchased a new stake in shares of Forestar Group in the second quarter worth approximately $34,000. CWM LLC boosted its position in shares of Forestar Group by 111.6% during the second quarter. CWM LLC now owns 1,060 shares of the oil and gas exploration company’s stock valued at $34,000 after buying an additional 559 shares during the last quarter. Finally, nVerses Capital LLC raised its position in Forestar Group by 500.0% in the 3rd quarter. nVerses Capital LLC now owns 1,200 shares of the oil and gas exploration company’s stock valued at $39,000 after buying an additional 1,000 shares during the last quarter. 35.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

FOR has been the subject of several analyst reports. BTIG Research lowered their target price on Forestar Group from $41.00 to $37.00 and set a “buy” rating for the company in a research report on Friday, July 19th. JPMorgan Chase & Co. dropped their price target on shares of Forestar Group from $37.50 to $36.00 and set a “neutral” rating on the stock in a research report on Thursday, July 25th. Finally, Citigroup decreased their price objective on shares of Forestar Group from $46.00 to $43.00 and set a “buy” rating for the company in a research report on Tuesday, July 2nd.

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.