Forestar Group Inc. (NYSE:FOR) Shares Bought by Summit Global Investments

Summit Global Investments grew its stake in shares of Forestar Group Inc. (NYSE:FOR) by 21.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,481 shares of the oil and gas exploration company’s stock after purchasing an additional 5,422 shares during the quarter. Summit Global Investments owned approximately 0.06% of Forestar Group worth $975,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of FOR. Transcendent Capital Group LLC purchased a new position in shares of Forestar Group during the first quarter worth approximately $32,000. CWM LLC grew 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 worth $34,000 after acquiring an additional 559 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Forestar Group by 115.4% during the first quarter. EverSource Wealth Advisors LLC now owns 924 shares of the oil and gas exploration company’s stock worth $37,000 after acquiring an additional 495 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Forestar Group by 88.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,436 shares of the oil and gas exploration company’s stock worth $147,000 after acquiring an additional 2,077 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in shares of Forestar Group during the fourth quarter worth approximately $168,000. 35.50% of the stock is currently owned by hedge funds and other institutional investors.

Forestar Group Stock Performance

NYSE FOR traded down $0.57 during trading hours on Tuesday, hitting $29.52. The company had a trading volume of 159,357 shares, compared to its average volume of 212,443. Forestar Group Inc. has a fifty-two week low of $22.71 and a fifty-two week high of $40.92. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.47. The business has a fifty day simple moving average of $31.20 and a 200-day simple moving average of $33.29. The firm has a market cap of $1.49 billion, a P/E ratio of 7.49 and a beta of 1.77.

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Citigroup lowered their price objective on shares of Forestar Group from $46.00 to $43.00 and set a “buy” rating on the stock in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. cut their target price on shares of Forestar Group from $37.50 to $36.00 and set a “neutral” rating for the company in a research note on Thursday, July 25th. BTIG Research dropped their price objective on shares of Forestar Group from $41.00 to $37.00 and set a “buy” rating for the company in a research note on Friday, July 19th. Finally, StockNews.com downgraded shares of Forestar Group from a “buy” rating to a “hold” rating in a research note on Friday, April 26th.

Insider Buying and Selling

In other news, Director Elizabeth Parmer sold 1,547 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $32.24, for a total transaction of $49,875.28. Following the transaction, the director now owns 1,548 shares of the company’s stock, valued at approximately $49,907.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director G.F. (Rick) Ringler III sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $31.38, for a total transaction of $62,760.00. Following the completion of the transaction, the director now owns 7,951 shares in the company, valued at approximately $249,502.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Elizabeth Parmer sold 1,547 shares of Forestar Group stock in a transaction 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 completion of the transaction, the director now owns 1,548 shares of the company’s stock, valued at approximately $49,907.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,095 shares of company stock valued at $159,887. Corporate insiders own 0.49% of the company’s stock.

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.