Allspring Global Investments Holdings LLC Has $364,000 Holdings in Forestar Group Inc. (NYSE:FOR)

Allspring Global Investments Holdings LLC decreased its position in shares of Forestar Group Inc. (NYSE:FOR) by 65.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,028 shares of the oil and gas exploration company’s stock after selling 26,320 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Forestar Group were worth $364,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Point72 DIFC Ltd bought a new position in Forestar Group during the third quarter worth $32,000. R Squared Ltd bought a new position in shares of Forestar Group in the 4th quarter worth about $95,000. Heck Capital Advisors LLC bought a new position in shares of Forestar Group in the 4th quarter worth about $112,000. SG Americas Securities LLC lifted its stake in shares of Forestar Group by 43.3% in the 4th quarter. SG Americas Securities LLC now owns 5,727 shares of the oil and gas exploration company’s stock valued at $148,000 after purchasing an additional 1,731 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Forestar Group during the 3rd quarter valued at about $172,000. Institutional investors and hedge funds own 35.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on FOR shares. JPMorgan Chase & Co. lowered their target price on Forestar Group from $37.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, January 28th. StockNews.com upgraded shares of Forestar Group from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, Citigroup cut their target price on shares of Forestar Group from $39.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd.

Forestar Group Stock Up 5.9 %

FOR stock opened at $23.85 on Wednesday. The stock’s 50 day simple moving average is $24.66 and its 200 day simple moving average is $28.59. The company has a market cap of $1.21 billion, a P/E ratio of 6.68 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 Inc. has a fifty-two week low of $22.42 and a fifty-two week high of $40.92.

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

Insiders Place Their Bets

In related news, CEO Anthony W. Oxley acquired 4,300 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was purchased at an average cost of $23.14 per share, with a total value of $99,502.00. Following the acquisition, the chief executive officer now owns 4,300 shares of the company’s stock, valued at approximately $99,502. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.40% of the company’s stock.

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.