Short Interest in Forestar Group Inc. (NYSE:FOR) Rises By 19.0%

Forestar Group Inc. (NYSE:FOR) saw a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 539,900 shares, a growth of 19.0% from the January 15th total of 453,700 shares. Based on an average trading volume of 160,200 shares, the days-to-cover ratio is presently 3.4 days. Currently, 2.8% of the company’s shares are short sold.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Point72 DIFC Ltd bought a new stake in Forestar Group during the third quarter worth $32,000. nVerses Capital LLC raised its stake in shares of Forestar Group by 500.0% in 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 buying an additional 1,000 shares during the period. NewEdge Advisors LLC bought a new stake in shares of Forestar Group in the fourth quarter valued at $76,000. R Squared Ltd bought a new stake in shares of Forestar Group in the fourth quarter valued at $95,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of Forestar Group in the fourth quarter valued at $112,000. Hedge funds and other institutional investors own 35.50% of the company’s stock.

Forestar Group Trading Up 3.2 %

Shares of Forestar Group stock opened at $23.21 on Monday. The stock has a market capitalization of $1.18 billion, a PE ratio of 6.50 and a beta of 1.72. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.50 and a current ratio of 0.50. Forestar Group has a 52 week low of $22.42 and a 52 week high of $40.92. The stock has a 50 day moving average price of $25.33 and a two-hundred day moving average price of $28.88.

Forestar Group (NYSE:FOR) last announced its earnings results on Tuesday, January 21st. The oil and gas exploration company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.33). The company had revenue of $250.40 million for the quarter, compared to analysts’ expectations of $318.00 million. Forestar Group had a net margin of 12.50% and a return on equity of 11.74%. The firm’s revenue for the quarter was down 18.1% compared to the same quarter last year. As a group, equities analysts anticipate that Forestar Group will post 3.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FOR. StockNews.com upgraded Forestar Group from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. JPMorgan Chase & Co. lowered their price objective on Forestar Group from $37.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. Finally, Citigroup lowered their price objective on Forestar Group from $39.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd.

Forestar Group Company 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.