Forestar Group Inc. (NYSE:FOR) Short Interest Update

Forestar Group Inc. (NYSE:FOR) was the recipient of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 508,000 shares, a growth of 6.0% from the March 31st total of 479,200 shares. Based on an average daily volume of 247,300 shares, the days-to-cover ratio is currently 2.1 days. Approximately 2.8% of the shares of the company are short sold.

Insiders Place Their Bets

In other Forestar Group news, CEO Anthony W. Oxley bought 3,210 shares of the business’s stock in a transaction on Wednesday, April 24th. The stock was purchased at an average price of $31.15 per share, for a total transaction of $99,991.50. Following the completion of the transaction, the chief executive officer now directly owns 3,210 shares of the company’s stock, valued at $99,991.50. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.49% of the company’s stock.

Institutional Investors Weigh In On Forestar Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Federated Hermes Inc. raised its stake in Forestar Group by 1,601.6% in the third quarter. Federated Hermes Inc. now owns 1,038 shares of the oil and gas exploration company’s stock valued at $28,000 after purchasing an additional 977 shares in the last quarter. Swiss National Bank raised its stake in Forestar Group by 2.3% in the third quarter. Swiss National Bank now owns 43,917 shares of the oil and gas exploration company’s stock valued at $1,183,000 after purchasing an additional 1,000 shares in the last quarter. McGlone Suttner Wealth Management Inc. purchased a new stake in Forestar Group in the fourth quarter valued at approximately $35,000. SG Americas Securities LLC raised its stake in Forestar Group by 25.0% in the fourth quarter. SG Americas Securities LLC now owns 10,356 shares of the oil and gas exploration company’s stock valued at $342,000 after purchasing an additional 2,074 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in Forestar Group by 88.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,436 shares of the oil and gas exploration company’s stock valued at $147,000 after purchasing an additional 2,077 shares in the last quarter. 35.50% of the stock is owned by hedge funds and other institutional investors.

Forestar Group Price Performance

FOR stock opened at $31.18 on Thursday. The firm has a 50 day moving average of $35.59 and a 200-day moving average of $32.53. The firm has a market capitalization of $1.58 billion, a P/E ratio of 7.76 and a beta of 1.75. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.48. Forestar Group has a 12 month low of $19.26 and a 12 month high of $40.92.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Forestar Group from a “buy” rating to a “hold” rating in a research report on Friday, April 26th.

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.