Mackenzie Financial Corp Sells 736 Shares of Forestar Group Inc. (NYSE:FOR)

Mackenzie Financial Corp cut its holdings in Forestar Group Inc. (NYSE:FOR) by 9.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,455 shares of the oil and gas exploration company’s stock after selling 736 shares during the period. Mackenzie Financial Corp’s holdings in Forestar Group were worth $238,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. The Manufacturers Life Insurance Company increased its position in Forestar Group by 7.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,920 shares of the oil and gas exploration company’s stock valued at $349,000 after buying an additional 765 shares in the last quarter. Dark Forest Capital Management LP increased its position in Forestar Group by 17.5% in the 2nd quarter. Dark Forest Capital Management LP now owns 23,730 shares of the oil and gas exploration company’s stock valued at $759,000 after buying an additional 3,538 shares in the last quarter. Marshall Wace LLP bought a new stake in Forestar Group in the 2nd quarter valued at about $835,000. EverSource Wealth Advisors LLC increased its position in Forestar Group by 474.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,311 shares of the oil and gas exploration company’s stock valued at $168,000 after buying an additional 4,387 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its position in Forestar Group by 19.0% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 169,100 shares of the oil and gas exploration company’s stock valued at $5,410,000 after buying an additional 27,000 shares in the last quarter. 35.50% of the stock is owned by institutional investors.

Insider Transactions at Forestar Group

In other news, Director Elizabeth Parmer sold 1,547 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $49,907.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director G.F. (Rick) Ringler III sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $32.58, for a total value of $65,160.00. Following the transaction, the director now owns 5,951 shares in the company, valued at $193,883.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Elizabeth Parmer sold 1,547 shares of the business’s stock in a transaction that occurred on 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 owns 1,548 shares in the company, valued at $49,907.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,095 shares of company stock worth $162,287 in the last 90 days. Insiders own 0.49% of the company’s stock.

Forestar Group Stock Performance

Shares of FOR opened at $31.61 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.50 and a current ratio of 1.50. The stock has a 50 day moving average price of $30.86 and a two-hundred day moving average price of $32.69. The firm has a market capitalization of $1.60 billion, a P/E ratio of 7.86 and a beta of 1.76. Forestar Group Inc. has a 52 week low of $22.71 and a 52 week high of $40.92.

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

Analyst Upgrades and Downgrades

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

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.