Forestar Group Inc. (NYSE:FOR) Sees Significant Decrease in Short Interest

Forestar Group Inc. (NYSE:FOR) saw a large decrease in short interest in November. As of November 15th, there was short interest totalling 322,700 shares, a decrease of 6.2% from the October 31st total of 344,200 shares. Currently, 1.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 129,600 shares, the days-to-cover ratio is currently 2.5 days.

Insider Activity

In other news, Director G.F. (Rick) Ringler III sold 2,000 shares of the 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 directly owns 5,951 shares of the company’s stock, valued at $193,883.58. This represents a 25.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.49% of the company’s stock.

Hedge Funds Weigh In On Forestar Group

Institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC raised its position in Forestar Group by 115.4% in the first quarter. EverSource Wealth Advisors LLC now owns 924 shares of the oil and gas exploration company’s stock worth $37,000 after acquiring an additional 495 shares during the period. Point72 DIFC Ltd bought a new position in Forestar Group in the 3rd quarter worth about $32,000. Family Firm Inc. purchased a new position in Forestar Group in the 2nd quarter worth approximately $34,000. CWM LLC grew its position in Forestar Group by 111.6% in the second quarter. CWM LLC now owns 1,060 shares of the oil and gas exploration company’s stock worth $34,000 after acquiring an additional 559 shares in the last quarter. Finally, nVerses Capital LLC grew its position in Forestar Group by 500.0% during the third quarter. nVerses Capital LLC now owns 1,200 shares of the oil and gas exploration company’s stock valued at $39,000 after acquiring an additional 1,000 shares during the last quarter. 35.50% of the stock is owned by institutional investors and hedge funds.

Forestar Group Stock Down 0.0 %

NYSE:FOR traded down $0.01 during trading hours on Tuesday, reaching $29.71. 90,142 shares of the stock were exchanged, compared to its average volume of 186,654. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.61. The firm has a 50 day moving average of $31.23 and a 200 day moving average of $31.46. The stock has a market cap of $1.51 billion, a PE ratio of 7.41 and a beta of 1.72. Forestar Group has a twelve month low of $27.49 and a twelve month high of $40.92.

Forestar Group (NYSE:FOR) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas exploration company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.29. The business had revenue of $551.40 million for the quarter, compared to analyst estimates of $503.76 million. Forestar Group had a net margin of 13.48% and a return on equity of 13.59%. Forestar Group’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period last year, the firm earned $1.44 earnings per share. On average, equities analysts expect that Forestar Group will post 3.67 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.