First Eagle Investment Management LLC Acquires Shares of 206,069 Forestar Group Inc. (NYSE:FOR)

First Eagle Investment Management LLC bought a new position in Forestar Group Inc. (NYSE:FOR) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 206,069 shares of the oil and gas exploration company’s stock, valued at approximately $6,592,000. First Eagle Investment Management LLC owned 0.41% of Forestar Group at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Transcendent Capital Group LLC purchased a new position in Forestar Group during the first quarter valued at $32,000. CWM LLC increased its holdings in shares of Forestar Group by 111.6% during the second quarter. CWM LLC now owns 1,060 shares of the oil and gas exploration company’s stock valued at $34,000 after acquiring an additional 559 shares in the last quarter. Family Firm Inc. purchased a new position in shares of Forestar Group in the 2nd quarter worth about $34,000. EverSource Wealth Advisors LLC boosted its stake in 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 in the last quarter. Finally, Innealta Capital LLC purchased a new stake in Forestar Group during the 2nd quarter valued at about $112,000. 35.50% of the stock is currently owned by institutional investors.

Insider Transactions at Forestar Group

In other Forestar Group news, Director Elizabeth Parmer sold 1,547 shares of the 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 transaction, the director now owns 1,548 shares of the company’s stock, valued at $49,907.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Forestar Group news, Director Elizabeth Parmer sold 1,547 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 1,548 shares in the company, valued at approximately $49,907.52. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director G.F. (Rick) Ringler III sold 2,000 shares of the stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $31.38, for a total transaction of $62,760.00. Following the completion of the transaction, the director now owns 7,951 shares in the company, valued at approximately $249,502.38. The disclosure for this sale can be found here. Insiders have sold a total of 5,095 shares of company stock worth $159,887 in the last ninety days. Insiders own 0.49% of the company’s stock.

Forestar Group Stock Performance

Shares of NYSE FOR opened at $33.28 on Friday. The firm’s 50-day moving average price is $30.95 and its 200-day moving average price is $33.05. Forestar Group Inc. has a 52-week low of $22.71 and a 52-week high of $40.92. The company has a market cap of $1.68 billion, a PE ratio of 8.28 and a beta of 1.76. The company has a quick ratio of 1.50, a current 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 company had revenue of $318.40 million during the quarter, compared to analysts’ expectations of $370.50 million. Forestar Group had a return on equity of 13.48% and a net margin of 12.89%. As a group, analysts anticipate that Forestar Group Inc. will post 3.72 EPS for the current year.

Analysts Set New Price Targets

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

Forestar Group Profile

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.