Premier Fund Managers Ltd Has $177,000 Stock Holdings in Forestar Group Inc $FOR

Premier Fund Managers Ltd decreased its position in Forestar Group Inc (NYSE:FOR) by 77.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,659 shares of the oil and gas exploration company’s stock after selling 22,319 shares during the quarter. Premier Fund Managers Ltd’s holdings in Forestar Group were worth $177,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in FOR. AQR Capital Management LLC boosted its position in Forestar Group by 32.1% in the first quarter. AQR Capital Management LLC now owns 227,559 shares of the oil and gas exploration company’s stock valued at $4,811,000 after buying an additional 55,266 shares in the last quarter. Millennium Management LLC raised its stake in shares of Forestar Group by 50.8% in the first quarter. Millennium Management LLC now owns 489,230 shares of the oil and gas exploration company’s stock valued at $10,342,000 after acquiring an additional 164,753 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Forestar Group by 63.7% in the 1st quarter. NewEdge Advisors LLC now owns 4,829 shares of the oil and gas exploration company’s stock worth $102,000 after acquiring an additional 1,879 shares in the last quarter. Jane Street Group LLC bought a new stake in Forestar Group during the 1st quarter worth approximately $850,000. Finally, Strs Ohio acquired a new stake in Forestar Group during the 1st quarter valued at $74,000. Institutional investors and hedge funds own 35.50% of the company’s stock.

Forestar Group Stock Up 1.0%

Shares of NYSE FOR opened at $29.94 on Monday. Forestar Group Inc has a 1 year low of $18.00 and a 1 year high of $30.74. The firm’s 50-day moving average is $26.79 and its 200-day moving average is $26.42. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $1.52 billion, a PE ratio of 9.16 and a beta of 1.43.

Forestar Group (NYSE:FOR) last posted its quarterly earnings results on Tuesday, January 20th. The oil and gas exploration company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.09. Forestar Group had a net margin of 9.90% and a return on equity of 9.76%. The business had revenue of $273.00 million during the quarter, compared to the consensus estimate of $265.48 million. During the same period in the previous year, the firm posted $0.32 earnings per share. Forestar Group’s revenue for the quarter was up 9.0% compared to the same quarter last year. Equities analysts expect that Forestar Group Inc will post 3.44 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Citigroup boosted their price objective on Forestar Group from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. Wall Street Zen downgraded shares of Forestar Group from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. Citizens Jmp set a $35.00 price objective on shares of Forestar Group in a research report on Wednesday, October 29th. Zacks Research upgraded shares of Forestar Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 29th. Finally, JPMorgan Chase & Co. increased their price target on shares of Forestar Group from $23.00 to $25.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $31.75.

Forestar Group Profile

Forestar Group Inc, headquartered in Austin, Texas, is a residential lot development and management company focused on delivering finished home sites to homebuilders across the United States. The company acquires, entitles and develops land for single-family and multi-family housing, managing zoning, infrastructure and environmental approvals to prepare lots for construction. Forestar’s integrated approach to land development spans from initial site acquisition through final lot delivery, providing homebuilders with ready-to-build parcels in a variety of markets.

In addition to lot development, Forestar operates a retail homebuilding segment through joint ventures and strategic partnerships with national and regional homebuilders.