Sierra Summit Advisors LLC Boosts Stake in Forestar Group Inc. (NYSE:FOR)

Sierra Summit Advisors LLC raised its holdings in shares of Forestar Group Inc. (NYSE:FOR) by 2.2% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 17,166 shares of the oil and gas exploration company’s stock after purchasing an additional 370 shares during the quarter. Sierra Summit Advisors LLC’s holdings in Forestar Group were worth $549,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Forestar Group by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 2,805,957 shares of the oil and gas exploration company’s stock worth $112,771,000 after acquiring an additional 28,379 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Forestar Group by 9.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,438,669 shares of the oil and gas exploration company’s stock worth $78,012,000 after purchasing an additional 201,032 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Forestar Group by 22.5% during the second quarter. American Century Companies Inc. now owns 461,388 shares of the oil and gas exploration company’s stock valued at $14,760,000 after purchasing an additional 84,861 shares during the period. Bridgeway Capital Management LLC boosted its stake in shares of Forestar Group by 11.0% during the first quarter. Bridgeway Capital Management LLC now owns 439,892 shares of the oil and gas exploration company’s stock valued at $17,679,000 after purchasing an additional 43,457 shares during the period. Finally, Woodson Capital Management LP bought a new position in shares of Forestar Group in the first quarter worth about $13,367,000. Institutional investors own 35.50% of the company’s stock.

Forestar Group Trading Up 3.8 %

NYSE FOR opened at $31.69 on Monday. Forestar Group Inc. has a one year low of $22.71 and a one year high of $40.92. 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 company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 7.88 and a beta of 1.76. The company’s 50-day simple moving average is $30.83 and its two-hundred day simple moving average is $33.07.

Forestar Group (NYSE:FOR) last issued its quarterly earnings data 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). The business had revenue of $318.40 million for the quarter, compared to analysts’ expectations of $370.50 million. Forestar Group had a net margin of 12.89% and a return on equity of 13.48%. Equities analysts forecast that Forestar Group Inc. will post 3.72 EPS for the current fiscal year.

Insider Activity

In related news, Director G.F. (Rick) Ringler III sold 2,000 shares of the company’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $31.38, for a total transaction of $62,760.00. Following the completion of the sale, the director now directly owns 7,951 shares in the company, valued at approximately $249,502.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Forestar Group news, Director G.F. (Rick) Ringler III sold 2,000 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $31.38, for a total value of $62,760.00. Following the completion of the transaction, the director now directly owns 7,951 shares in the company, valued at $249,502.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Elizabeth Parmer sold 1,547 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $32.24, for a total transaction of $49,875.28. Following the sale, the director now directly owns 1,548 shares of the company’s stock, valued at $49,907.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,095 shares of company stock worth $159,887. 0.49% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of Forestar Group from $37.50 to $36.00 and set a “neutral” rating on the stock in a research report on Thursday, July 25th. Citigroup dropped their price objective 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. Finally, BTIG Research decreased their target price on Forestar Group from $41.00 to $37.00 and set a “buy” rating for the company in a research report on Friday, July 19th.

Forestar Group 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.