Forestar Group (NYSE:FOR) Director Lisa Jamieson Sells 3,000 Shares of Stock

Forestar Group Inc (NYSE:FOR) Director Lisa Jamieson sold 3,000 shares of the firm’s stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $24.77, for a total transaction of $74,310.00. Following the sale, the director owned 23,105 shares of the company’s stock, valued at approximately $572,310.85. This represents a 11.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Forestar Group Stock Performance

Shares of NYSE:FOR traded down $0.67 during midday trading on Friday, reaching $23.79. 189,695 shares of the company’s stock traded hands, compared to its average volume of 186,582. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.44 and a current ratio of 2.22. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 8.56 and a beta of 1.43. The stock has a 50 day moving average of $26.01 and a 200 day moving average of $27.35. Forestar Group Inc has a one year low of $22.81 and a one year high of $32.06.

Forestar Group (NYSE:FOR) last announced its quarterly earnings results on Thursday, October 29th. The oil and gas exploration company reported $1.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.10). Forestar Group had a net margin of 8.72% and a return on equity of 7.73%. The company had revenue of $580.80 million for the quarter, compared to analysts’ expectations of $603.10 million. During the same period in the previous year, the business earned $1.70 EPS. The business’s revenue was down 13.4% compared to the same quarter last year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Weiss Ratings cut Forestar Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, October 23rd. Citizens Jmp reiterated a “market outperform” rating and issued a $35.00 price target on shares of Forestar Group in a research report on Wednesday, July 22nd. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Forestar Group has a consensus rating of “Hold” and an average target price of $36.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FOR. R Squared Ltd grew its holdings in Forestar Group by 84.9% during the 3rd quarter. R Squared Ltd now owns 21,563 shares of the oil and gas exploration company’s stock valued at $555,000 after buying an additional 9,900 shares in the last quarter. Vise Technologies Inc. bought a new position in shares of Forestar Group during the third quarter worth $348,000. Moody Aldrich Partners LLC grew its stake in Forestar Group by 44.0% during the third quarter. Moody Aldrich Partners LLC now owns 168,993 shares of the oil and gas exploration company’s stock valued at $4,352,000 after acquiring an additional 51,632 shares in the last quarter. Signaturefd LLC grew its stake in Forestar Group by 17.7% during the third quarter. Signaturefd LLC now owns 3,540 shares of the oil and gas exploration company’s stock valued at $91,000 after acquiring an additional 533 shares in the last quarter. Finally, Sterling Capital Management LLC increased its holdings in Forestar Group by 9.1% in the 3rd quarter. Sterling Capital Management LLC now owns 10,910 shares of the oil and gas exploration company’s stock valued at $281,000 after acquiring an additional 914 shares during the last quarter. 35.50% of the stock is currently owned by institutional investors.

About Forestar Group

Forestar Group Inc (NYSE: FOR) is a residential lot development company that acquires, entitles and develops land for housing construction. The company sells finished and partially developed residential lots to homebuilders, including its majority shareholder, D.R. Horton, as well as other national, regional and local builders.

Forestar’s activities generally include identifying land opportunities, obtaining development approvals, installing infrastructure and managing the construction of roads, utilities and other improvements needed for residential communities.