Denali Advisors LLC Purchases 10,425 Shares of Forestar Group Inc. (NYSE:FOR)

Denali Advisors LLC increased its stake in Forestar Group Inc. (NYSE:FOR) 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.

Forestar Group (NYSE:FOR) last posted its earnings results on Thursday, July 18th. The oil and gas exploration company reported $0.76 earnings per share (EPS) 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 company had revenue of $318.40 million during the quarter, compared to analysts’ expectations of $370.50 million. Research analysts anticipate that Forestar Group Inc. will post 3.72 earnings per share for the current fiscal year.

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.

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.