EMG Holdings L.P. Makes New Investment in Forestar Group Inc. (NYSE:FOR)

EMG Holdings L.P. bought a new position in Forestar Group Inc. (NYSE:FOR) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 28,487 shares of the oil and gas exploration company’s stock, valued at approximately $911,000. Forestar Group accounts for about 0.4% of EMG Holdings L.P.’s investment portfolio, making the stock its 23rd largest holding. EMG Holdings L.P. owned about 0.06% of Forestar Group as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Transcendent Capital Group LLC purchased a new stake in Forestar Group in the first quarter worth $32,000. CWM LLC increased its stake in Forestar Group by 111.6% in the second 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. bought a new position in shares of Forestar Group during the 2nd quarter worth $34,000. EverSource Wealth Advisors LLC increased its stake in shares of Forestar Group by 115.4% during the first quarter. EverSource Wealth Advisors LLC now owns 924 shares of the oil and gas exploration company’s stock valued at $37,000 after buying an additional 495 shares during the period. Finally, Innealta Capital LLC purchased a new position in shares of Forestar Group during the second quarter valued at $112,000. Hedge funds and other institutional investors own 35.50% of the company’s stock.

Insider Buying and Selling at Forestar Group

In other 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 sale, the director now owns 1,548 shares in the company, valued at $49,907.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other 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 sale, the director now owns 1,548 shares in the company, valued at $49,907.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director G.F. (Rick) Ringler III sold 2,000 shares of the business’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 sale, 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 5,095 shares of company stock worth $159,887 over the last quarter. Insiders own 0.49% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. BTIG Research cut their price target 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. JPMorgan Chase & Co. cut their price target on Forestar Group from $37.50 to $36.00 and set a “neutral” rating on the stock in a research note on Thursday, July 25th. Finally, Citigroup cut their price target 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.

Forestar Group Price Performance

FOR opened at $34.41 on Friday. The business’s 50-day moving average is $30.96 and its two-hundred day moving average is $33.06. Forestar Group Inc. has a 1 year low of $22.71 and a 1 year high of $40.92. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.50 and a quick ratio of 1.50. The firm has a market capitalization of $1.74 billion, a PE ratio of 8.56 and a beta of 1.76.

Forestar Group (NYSE:FOR) last posted 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). Forestar Group had a net margin of 12.89% and a return on equity of 13.48%. The company had revenue of $318.40 million during the quarter, compared to analysts’ expectations of $370.50 million. Research analysts anticipate that Forestar Group Inc. will post 3.72 earnings per share for the current fiscal year.

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.