Connor Clark & Lunn Investment Management Ltd. Boosts Stock Position in Forestar Group Inc. (NYSE:FOR)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Forestar Group Inc. (NYSE:FOR) by 4.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,831 shares of the oil and gas exploration company’s stock after buying an additional 392 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Forestar Group were worth $286,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Family Firm Inc. bought a new position in Forestar Group during the 2nd quarter valued at $34,000. CWM LLC raised its stake 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 valued at $34,000 after purchasing an additional 559 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake 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 valued at $37,000 after purchasing an additional 495 shares in the last quarter. nVerses Capital LLC lifted its position in shares of Forestar Group by 500.0% during the third quarter. nVerses Capital LLC now owns 1,200 shares of the oil and gas exploration company’s stock worth $39,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Innealta Capital LLC acquired a new position in Forestar Group in the second quarter worth about $112,000. Institutional investors and hedge funds own 35.50% of the company’s stock.

Insiders Place Their Bets

In other Forestar Group news, Director G.F. (Rick) Ringler III sold 2,000 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were 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 of the company’s stock, valued at $193,883.58. This trade represents a 25.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.49% of the stock is owned by corporate insiders.

Forestar Group Trading Down 0.6 %

Shares of NYSE FOR opened at $29.85 on Friday. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. The stock’s 50 day moving average price is $31.30 and its two-hundred day moving average price is $31.53. Forestar Group Inc. has a 52-week low of $27.49 and a 52-week high of $40.92. The stock has a market capitalization of $1.51 billion, a P/E ratio of 7.44 and a beta of 1.76.

Forestar Group (NYSE:FOR) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas exploration company reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.29. Forestar Group had a return on equity of 13.59% and a net margin of 13.48%. The business had revenue of $551.40 million during the quarter, compared to the consensus estimate of $503.76 million. During the same period in the previous year, the business earned $1.44 EPS. The business’s quarterly revenue was up .3% on a year-over-year basis. On average, analysts anticipate that Forestar Group Inc. will post 3.67 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.