Forestar Group (NYSE:FOR) Stock: Insider Lisa Jamieson Sells 3,000 Shares

Forestar Group Inc (NYSE:FOR) Director Lisa Jamieson sold 3,000 shares of the stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $24.77, for a total value of $74,310.00. Following the completion of the sale, the director directly owned 23,105 shares of the company’s stock, valued at approximately $572,310.85. This represents a 11.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Forestar Group Stock Performance

Shares of Forestar Group stock opened at $23.79 on Friday. Forestar Group Inc has a one year low of $22.81 and a one year high of $32.06. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 8.56 and a beta of 1.43. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.44 and a current ratio of 2.22. The business’s 50 day moving average price is $26.01 and its 200 day moving average price is $27.35.

Forestar Group (NYSE:FOR) last issued its earnings results on Thursday, October 29th. The oil and gas exploration company reported $1.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.10). Forestar Group had a return on equity of 7.73% and a net margin of 8.72%. The company had revenue of $580.80 million during the quarter, compared to analyst estimates of $603.10 million. During the same period last year, the business earned $1.70 earnings per share. The firm’s revenue was down 13.4% compared to the same quarter last year.

Analysts Set New Price Targets

A number of equities analysts have commented on FOR shares. Weiss Ratings downgraded shares of Forestar Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, October 23rd. Citizens Jmp reaffirmed a “market outperform” rating and set a $35.00 price target on shares of Forestar Group in a research report on Wednesday, July 22nd. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $36.50.

Institutional Investors Weigh In On Forestar Group

Several institutional investors have recently modified their holdings of FOR. R Squared Ltd lifted its stake in Forestar Group by 84.9% during the third quarter. R Squared Ltd now owns 21,563 shares of the oil and gas exploration company’s stock worth $555,000 after purchasing an additional 9,900 shares during the last quarter. Vise Technologies Inc. purchased a new position in Forestar Group in the third quarter valued at approximately $348,000. Moody Aldrich Partners LLC raised its holdings in Forestar Group by 44.0% during the third quarter. Moody Aldrich Partners LLC now owns 168,993 shares of the oil and gas exploration company’s stock worth $4,352,000 after purchasing an additional 51,632 shares in the last quarter. Signaturefd LLC raised its holdings in Forestar Group by 17.7% during the third quarter. Signaturefd LLC now owns 3,540 shares of the oil and gas exploration company’s stock worth $91,000 after purchasing an additional 533 shares in the last quarter. Finally, Sterling Capital Management LLC lifted its position in shares of Forestar Group by 9.1% during the 3rd quarter. Sterling Capital Management LLC now owns 10,910 shares of the oil and gas exploration company’s stock worth $281,000 after buying an additional 914 shares during the last quarter. 35.50% of the stock is owned by hedge funds and other institutional investors.

About Forestar Group

Forestar Group Inc (NYSE: FOR) is a residential lot development company that acquires, entitles and develops land for housing construction. The company sells finished and partially developed residential lots to homebuilders, including its majority shareholder, D.R. Horton, as well as other national, regional and local builders.

Forestar’s activities generally include identifying land opportunities, obtaining development approvals, installing infrastructure and managing the construction of roads, utilities and other improvements needed for residential communities.