Denali Advisors LLC increased its stake in Forestar Group Inc. (NYSE:FOR – Free Report) by 7.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 141,727 shares of the oil and gas exploration company’s stock after buying an additional 10,425 shares during the quarter. Denali Advisors LLC owned about 0.28% of Forestar Group worth $4,534,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Inspire Investing LLC bought a new stake in Forestar Group in the first quarter worth $941,000. Allspring Global Investments Holdings LLC lifted its position in Forestar Group by 918.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 45,195 shares of the oil and gas exploration company’s stock worth $1,816,000 after buying an additional 40,759 shares during the last quarter. Quadrature Capital Ltd bought a new stake in Forestar Group in the fourth quarter worth $786,000. Hussman Strategic Advisors Inc. increased its stake 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. Finally, SG Americas Securities LLC purchased a new stake in Forestar Group in the second quarter worth $285,000. 35.50% of the stock is currently owned by institutional investors.
Forestar Group Price Performance
FOR opened at $31.90 on Tuesday. The business’s 50-day moving average is $30.85 and its two-hundred day moving average is $33.06. Forestar Group Inc. has a 1 year low of $22.71 and a 1 year high of $40.92. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.50 and a quick ratio of 1.50. The firm has a market capitalization of $1.61 billion, a PE ratio of 7.94 and a beta of 1.76.
Insiders Place Their Bets
In related news, Director Elizabeth Parmer sold 1,547 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $32.24, for a total value of $49,875.28. Following the sale, the director now owns 1,548 shares in the company, valued at $49,907.52. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director G.F. (Rick) Ringler III sold 2,000 shares of the company’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 value of $62,760.00. Following the sale, the director now owns 7,951 shares in the company, valued at $249,502.38. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Elizabeth Parmer sold 1,547 shares of the company’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 completion of the sale, the director now owns 1,548 shares in the company, valued at approximately $49,907.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,095 shares of company stock valued at $159,887. 0.49% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
FOR has been the topic of several research reports. JPMorgan Chase & Co. cut their price target on Forestar Group from $37.50 to $36.00 and set a “neutral” rating on the stock in a research note on Thursday, July 25th. Citigroup cut their price target on Forestar Group from $46.00 to $43.00 and set a “buy” rating on the stock in a research note on Tuesday, July 2nd. Finally, BTIG Research cut their target price on Forestar Group from $41.00 to $37.00 and set a “buy” rating on the stock in a research note on Friday, July 19th.
Check Out Our Latest Report on Forestar Group
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.
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