Forestar Group Inc. (NYSE:FOR) Stock Position Reduced by Ritholtz Wealth Management

Ritholtz Wealth Management cut its stake in shares of Forestar Group Inc. (NYSE:FOR) by 21.3% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,605 shares of the oil and gas exploration company’s stock after selling 12,048 shares during the period. Ritholtz Wealth Management’s holdings in Forestar Group were worth $1,444,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Woodson Capital Management LP bought a new stake in Forestar Group in the first quarter worth approximately $13,367,000. Principal Financial Group Inc. lifted its stake in shares of Forestar Group by 2,409.9% in the second quarter. Principal Financial Group Inc. now owns 317,102 shares of the oil and gas exploration company’s stock worth $10,144,000 after buying an additional 304,468 shares during the last quarter. Hennessy Advisors Inc. acquired a new stake in shares of Forestar Group in the second quarter worth $6,753,000. First Eagle Investment Management LLC acquired a new stake in shares of Forestar Group in the second quarter worth $6,592,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Forestar Group by 9.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,438,669 shares of the oil and gas exploration company’s stock worth $78,012,000 after buying an additional 201,032 shares during the last quarter. 35.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FOR has been the subject of a number of analyst reports. BTIG Research reduced 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. Citigroup cut their target price on shares of Forestar Group from $46.00 to $43.00 and set a “buy” rating for the company in a research note on Tuesday, July 2nd. Finally, 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.

Forestar Group Stock Up 1.1 %

Shares of NYSE:FOR opened at $31.65 on Monday. Forestar Group Inc. has a 12 month low of $22.71 and a 12 month high of $40.92. The company’s 50-day moving average price is $30.88 and its two-hundred day moving average price is $32.52. 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 firm has a market cap of $1.60 billion, a P/E ratio of 7.87 and a beta of 1.76.

Forestar Group (NYSE:FOR) last issued its quarterly earnings data on Thursday, July 18th. The oil and gas exploration company reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.13). Forestar Group had a return on equity of 13.48% and a net margin of 12.89%. The company had revenue of $318.40 million for the quarter, compared to the consensus estimate of $370.50 million. As a group, research analysts forecast that Forestar Group Inc. will post 3.72 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Elizabeth Parmer sold 1,547 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $32.24, for a total value 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director G.F. (Rick) Ringler III sold 2,000 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $32.58, for a total value of $65,160.00. Following the transaction, the director now owns 5,951 shares of the company’s stock, valued at approximately $193,883.58. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Elizabeth Parmer sold 1,547 shares of the firm’s 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 completion of the transaction, the director now directly owns 1,548 shares in the company, valued at $49,907.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,095 shares of company stock valued at $162,287 in the last 90 days. 0.49% of the stock is currently owned by insiders.

Forestar Group 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.