Ritholtz Wealth Management Cuts Stock Position in Forestar Group Inc. (NYSE:FOR)

Ritholtz Wealth Management decreased its position in shares of Forestar Group Inc. (NYSE:FOR) by 21.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,605 shares of the oil and gas exploration company’s stock after selling 12,048 shares during the period. Ritholtz Wealth Management owned about 0.09% of Forestar Group worth $1,444,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FOR. Vanguard Group Inc. increased its stake in Forestar Group by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 2,777,578 shares of the oil and gas exploration company’s stock worth $91,855,000 after buying an additional 15,729 shares during the period. Quadrature Capital Ltd purchased a new stake in Forestar Group during the 4th quarter worth $786,000. Los Angeles Capital Management LLC increased its stake in Forestar Group by 82.3% during the 1st quarter. Los Angeles Capital Management LLC now owns 65,867 shares of the oil and gas exploration company’s stock worth $2,647,000 after buying an additional 29,743 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Forestar Group by 918.8% during the 1st 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 acquiring an additional 40,759 shares in the last quarter. Finally, Denali Advisors LLC grew its holdings in Forestar Group by 60.7% during the 1st quarter. Denali Advisors LLC now owns 131,302 shares of the oil and gas exploration company’s stock worth $5,277,000 after acquiring an additional 49,574 shares in the last quarter. Hedge funds and other institutional investors own 35.50% of the company’s stock.

Insider Buying and Selling

In related news, Director G.F. (Rick) Ringler III sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $32.58, for a total value of $65,160.00. Following the sale, the director now directly owns 5,951 shares in the company, valued at $193,883.58. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Elizabeth Parmer sold 1,547 shares of the business’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 transaction of $49,875.28. Following the sale, the director now owns 1,548 shares in the company, valued at $49,907.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director G.F. (Rick) Ringler III sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $32.58, for a total transaction of $65,160.00. Following the sale, the director now owns 5,951 shares in the company, valued at $193,883.58. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,095 shares of company stock worth $162,287 in the last ninety days. 0.49% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. 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. BTIG Research decreased their price target on shares of Forestar Group from $41.00 to $37.00 and set a “buy” rating for the company in a report on Friday, July 19th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Forestar Group from $37.50 to $36.00 and set a “neutral” rating for the company in a report on Thursday, July 25th.

Forestar Group Trading Up 1.1 %

Forestar Group stock opened at $31.65 on Monday. Forestar Group Inc. has a 52-week low of $22.71 and a 52-week high of $40.92. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 7.87 and a beta of 1.76. The firm has a 50-day moving average price of $30.88 and a two-hundred day moving average price of $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.

Forestar Group (NYSE:FOR) last released its quarterly earnings results 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. Sell-side analysts expect 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.