Innealta Capital LLC Buys Shares of 3,491 Forestar Group Inc. (NYSE:FOR)

Innealta Capital LLC purchased a new position in Forestar Group Inc. (NYSE:FOR) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,491 shares of the oil and gas exploration company’s stock, valued at approximately $112,000.

Several other institutional investors have also made changes to their positions in FOR. Federated Hermes Inc. raised its holdings in shares of Forestar Group by 2,614.5% during the fourth quarter. Federated Hermes Inc. now owns 28,176 shares of the oil and gas exploration company’s stock worth $932,000 after acquiring an additional 27,138 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Forestar Group by 63.0% during the 4th quarter. New York State Common Retirement Fund now owns 34,183 shares of the oil and gas exploration company’s stock valued at $1,130,000 after buying an additional 13,208 shares during the last quarter. Summit Global Investments grew its stake in shares of Forestar Group by 21.0% in the 4th quarter. Summit Global Investments now owns 32,836 shares of the oil and gas exploration company’s stock valued at $1,086,000 after buying an additional 5,700 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Forestar Group by 7.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 148,095 shares of the oil and gas exploration company’s stock valued at $4,898,000 after buying an additional 10,705 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Forestar Group by 11.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,026,590 shares of the oil and gas exploration company’s stock worth $67,021,000 after buying an additional 200,686 shares during the last quarter. 35.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on FOR. BTIG Research reduced their target price 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. JPMorgan Chase & Co. reduced their price objective 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. 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 report on Tuesday, July 2nd.

Insiders Place Their Bets

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

Forestar Group Stock Performance

FOR stock traded up $0.16 during midday trading on Friday, hitting $30.94. 202,183 shares of the company traded hands, compared to its average volume of 210,577. The business has a 50 day simple moving average of $31.01 and a 200-day simple moving average of $33.23. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.47. Forestar Group Inc. has a twelve month low of $22.71 and a twelve month high of $40.92. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of 7.66 and a beta of 1.77.

Forestar Group (NYSE:FOR) last posted its quarterly earnings data 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). The business had revenue of $318.40 million for the quarter, compared to analyst estimates of $370.50 million. Forestar Group had a return on equity of 13.48% and a net margin of 12.89%. As a group, equities research analysts predict that Forestar Group Inc. will post 3.72 earnings per share for the current year.

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.