31,300 Shares in Forestar Group Inc. (NYSE:FOR) Bought by Point72 Asset Management L.P.

Point72 Asset Management L.P. acquired a new stake in Forestar Group Inc. (NYSE:FOR) in the third quarter, Holdings Channel reports. The institutional investor acquired 31,300 shares of the oil and gas exploration company’s stock, valued at approximately $1,013,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its stake in shares of Forestar Group by 9.0% in the 2nd 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 acquiring an additional 201,032 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Forestar Group by 46.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 65,990 shares of the oil and gas exploration company’s stock valued at $2,111,000 after purchasing an additional 20,795 shares in the last quarter. Hussman Strategic Advisors Inc. raised its holdings in Forestar Group by 75.0% in the second quarter. Hussman Strategic Advisors Inc. now owns 63,000 shares of the oil and gas exploration company’s stock worth $2,015,000 after purchasing an additional 27,000 shares during the period. SG Americas Securities LLC bought a new position in shares of Forestar Group during the second quarter worth $285,000. Finally, Los Angeles Capital Management LLC boosted its position in shares of Forestar Group by 73.5% during the third quarter. Los Angeles Capital Management LLC now owns 62,237 shares of the oil and gas exploration company’s stock worth $2,015,000 after purchasing an additional 26,360 shares in the last quarter. Institutional investors and hedge funds own 35.50% of the company’s stock.

Insiders Place Their Bets

In related news, Director G.F. (Rick) Ringler III sold 2,000 shares of the company’s stock in a transaction on Friday, September 27th. The shares were 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. This represents a 25.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.49% of the company’s stock.

Forestar Group Price Performance

FOR opened at $28.25 on Wednesday. The company has a fifty day simple moving average of $30.81 and a 200 day simple moving average of $31.24. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. The stock has a market cap of $1.43 billion, a P/E ratio of 7.04 and a beta of 1.72. Forestar Group Inc. has a 12 month low of $27.49 and a 12 month high of $40.92.

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, topping the consensus estimate of $1.31 by $0.29. Forestar Group had a return on equity of 13.59% and a net margin of 13.48%. The company had revenue of $551.40 million during the quarter, compared to the consensus estimate of $503.76 million. During the same period in the prior year, the company earned $1.44 earnings per share. The company’s revenue for the quarter was up .3% compared to the same quarter last year. On average, research analysts expect that Forestar Group Inc. will post 3.67 EPS for the current year.

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.