Short Interest in Forestar Group Inc (FOR) Decreases By 46.0%
Forestar Group Inc (NYSE:FOR) was the recipient of a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 1,321,249 shares, a decrease of 46.0% from the October 13th total of 2,444,950 shares. Currently, 13.0% of the shares of the company are sold short. Based on an average trading volume of 324,707 shares, the days-to-cover ratio is currently 4.1 days.
Separately, BidaskClub lowered shares of Forestar Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th.
Forestar Group (NYSE:FOR) traded up $0.60 on Thursday, reaching $18.30. 404,111 shares of the company traded hands, compared to its average volume of 722,746. Forestar Group has a 52-week low of $11.85 and a 52-week high of $18.45. The firm has a market capitalization of $727.64, a price-to-earnings ratio of 14.96 and a beta of 1.85. The company has a current ratio of 26.13, a quick ratio of 26.13 and a debt-to-equity ratio of 0.18.
Several institutional investors have recently made changes to their positions in FOR. State of Alaska Department of Revenue raised its holdings in shares of Forestar Group by 79.8% during the second quarter. State of Alaska Department of Revenue now owns 6,543 shares of the oil and gas exploration company’s stock valued at $112,000 after acquiring an additional 2,903 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its holdings in shares of Forestar Group by 27.3% in the second quarter. Municipal Employees Retirement System of Michigan now owns 7,780 shares of the oil and gas exploration company’s stock valued at $133,000 after purchasing an additional 1,670 shares during the last quarter. FNY Partners Fund LP acquired a new stake in shares of Forestar Group in the second quarter valued at approximately $136,000. Quantbot Technologies LP acquired a new stake in shares of Forestar Group in the second quarter valued at approximately $149,000. Finally, OppenheimerFunds Inc. increased its holdings in shares of Forestar Group by 2.6% in the first quarter. OppenheimerFunds Inc. now owns 12,179 shares of the oil and gas exploration company’s stock valued at $166,000 after purchasing an additional 310 shares during the last quarter. 84.87% of the stock is owned by institutional investors and hedge funds.
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About Forestar Group
Forestar Group Inc is a residential and mixed-use real estate development company. The Company operates through three segments. The Real Estate segment secures entitlements and develops infrastructure on its lands, for single-family residential and mixed-use communities. The Mineral resources segment is focused on its owned oil and gas mineral interests through promoting exploration, development and production activities.
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