Forestar Group Inc. (NYSE:FOR) Short Interest Update

Forestar Group Inc. (NYSE:FOR) was the target of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 408,000 shares, a decrease of 10.6% from the August 15th total of 456,400 shares. Currently, 2.2% of the company’s stock are short sold. Based on an average daily volume of 195,300 shares, the days-to-cover ratio is presently 2.1 days.

Insiders Place Their Bets

In other news, Director Elizabeth Parmer sold 1,547 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $32.24, for a total transaction of $49,875.28. Following the completion of the transaction, the director now directly owns 1,548 shares in the company, valued at $49,907.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Forestar Group news, Director G.F. (Rick) Ringler III sold 2,000 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $31.38, for a total value of $62,760.00. Following the transaction, the director now directly owns 7,951 shares of the company’s stock, valued at $249,502.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Elizabeth Parmer sold 1,547 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $32.24, for a total value of $49,875.28. Following the completion of the transaction, the director now directly owns 1,548 shares in the company, valued at $49,907.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,095 shares of company stock worth $159,887. 0.49% of the stock is owned by corporate insiders.

Institutional Trading of Forestar Group

Large investors have recently added to or reduced their stakes in the company. Transcendent Capital Group LLC purchased a new position in shares of Forestar Group in the 1st quarter worth approximately $32,000. CWM LLC boosted its holdings in shares of Forestar Group by 111.6% in the 2nd quarter. CWM LLC now owns 1,060 shares of the oil and gas exploration company’s stock worth $34,000 after purchasing an additional 559 shares during the period. Family Firm Inc. purchased a new position in shares of Forestar Group in the 2nd quarter worth approximately $34,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Forestar Group by 115.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 924 shares of the oil and gas exploration company’s stock worth $37,000 after purchasing an additional 495 shares during the period. Finally, Innealta Capital LLC purchased a new position in shares of Forestar Group in the 2nd quarter worth approximately $112,000. Institutional investors own 35.50% of the company’s stock.

Forestar Group Price Performance

FOR traded down $0.06 on Wednesday, hitting $32.96. 172,276 shares of the company’s stock traded hands, compared to its average volume of 205,849. The company’s 50 day simple moving average is $30.90 and its 200-day simple moving average is $33.05. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 8.19 and a beta of 1.76. Forestar Group has a one year low of $22.71 and a one year high of $40.92. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.47.

Forestar Group (NYSE:FOR) last issued its earnings results on Thursday, July 18th. The oil and gas exploration company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.13). The business had revenue of $318.40 million for the quarter, compared to the consensus estimate of $370.50 million. Forestar Group had a net margin of 12.89% and a return on equity of 13.48%. As a group, research analysts anticipate that Forestar Group will post 3.72 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FOR. JPMorgan Chase & Co. dropped their target price on Forestar Group from $37.50 to $36.00 and set a “neutral” rating on the stock in a research report on Thursday, July 25th. BTIG Research decreased their price objective on Forestar Group from $41.00 to $37.00 and set a “buy” rating on the stock in a research note on Friday, July 19th. Finally, Citigroup decreased their price objective on Forestar Group from $46.00 to $43.00 and set a “buy” rating on the stock in a research note on Tuesday, July 2nd.

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.