Insider Selling: Forestar Group Inc. (NYSE:FOR) Director Sells 2,000 Shares of Stock

Forestar Group Inc. (NYSE:FOR) Director G.F. (Rick) Ringler III sold 2,000 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $31.38, for a total transaction of $62,760.00. Following the sale, the director now directly owns 7,951 shares in the company, valued at $249,502.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Forestar Group Price Performance

Shares of Forestar Group stock traded up $0.44 during trading on Friday, hitting $31.99. The stock had a trading volume of 350,881 shares, compared to its average volume of 209,505. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.48. Forestar Group Inc. has a 12 month low of $21.88 and a 12 month high of $40.92. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 7.85 and a beta of 1.78. The business’s 50-day moving average is $32.74 and its 200 day moving average is $33.86.

Forestar Group (NYSE:FOR) last announced its earnings results on Thursday, April 18th. The oil and gas exploration company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. The business had revenue of $333.80 million for the quarter, compared to analyst estimates of $345.60 million. Forestar Group had a return on equity of 14.59% and a net margin of 12.99%. As a group, sell-side analysts anticipate that Forestar Group Inc. will post 3.87 earnings per share for the current year.

Hedge Funds Weigh In On Forestar Group

Large investors have recently bought and sold shares of the stock. Woodson Capital Management LP bought a new position in Forestar Group during the 1st quarter valued at approximately $13,367,000. Dimensional Fund Advisors LP increased its position in Forestar Group by 11.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,026,590 shares of the oil and gas exploration company’s stock valued at $67,021,000 after purchasing an additional 200,686 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in shares of Forestar Group by 110.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 261,072 shares of the oil and gas exploration company’s stock worth $7,033,000 after purchasing an additional 137,270 shares during the period. Empowered Funds LLC boosted its stake in shares of Forestar Group by 55.5% during the 1st quarter. Empowered Funds LLC now owns 290,197 shares of the oil and gas exploration company’s stock valued at $11,663,000 after purchasing an additional 103,562 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Forestar Group by 3.4% during the third quarter. Vanguard Group Inc. now owns 2,761,849 shares of the oil and gas exploration company’s stock valued at $74,404,000 after buying an additional 90,291 shares during the period. 35.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on FOR. StockNews.com downgraded shares of Forestar Group from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Citigroup raised their target price on Forestar Group from $44.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, May 17th.

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.