Allspring Global Investments Holdings LLC Cuts Stock Position in Forestar Group Inc. (NYSE:FOR)

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

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Empowered Funds LLC raised its holdings in Forestar Group by 3.9% during the 4th quarter. Empowered Funds LLC now owns 330,462 shares of the oil and gas exploration company's stock valued at $8,566,000 after buying an additional 12,473 shares during the period. Heck Capital Advisors LLC purchased a new stake in Forestar Group during the 4th quarter valued at $112,000. Swedbank AB purchased a new stake in Forestar Group during the 4th quarter valued at $1,296,000. R Squared Ltd purchased a new stake in Forestar Group during the 4th quarter valued at $95,000. Finally, Exchange Traded Concepts LLC purchased a new stake in Forestar Group during the 4th quarter valued at $290,000. Hedge funds and other institutional investors own 35.50% of the company's stock.

Insider Transactions at Forestar Group

In related news, CEO Anthony W. Oxley acquired 4,300 shares of the company's stock in a transaction that occurred on Friday, February 14th. The shares were bought at an average price of $23.14 per share, with a total value of $99,502.00. Following the completion of the transaction, the chief executive officer now directly owns 4,300 shares in the company, valued at $99,502. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.40% of the company's stock.

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Forestar Group Stock Down 1.7 %

Shares of FOR traded down $0.39 during midday trading on Friday, reaching $22.00. 189,938 shares of the stock were exchanged, compared to its average volume of 196,521. Forestar Group Inc. has a 52 week low of $21.96 and a 52 week high of $40.92. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.50. The company's 50 day moving average is $24.45 and its two-hundred day moving average is $28.46. The company has a market capitalization of $1.11 billion, a P/E ratio of 6.16 and a beta of 1.72.

Forestar Group (NYSE:FOR - Get Free Report) last posted its quarterly earnings results on Tuesday, January 21st. The oil and gas exploration company reported $0.32 earnings per share (EPS) 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 the consensus estimate of $318.00 million. Forestar Group's revenue for the quarter was down 18.1% on a year-over-year basis. On average, sell-side analysts anticipate that Forestar Group Inc. will post 3.44 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on the company. JPMorgan Chase & Co. cut their price objective on Forestar Group from $37.00 to $30.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 28th. StockNews.com raised Forestar Group from a "sell" rating to a "hold" rating in a research report on Wednesday. Finally, Citigroup cut their price objective on Forestar Group from $39.00 to $32.00 and set a "buy" rating on the stock in a research report on Thursday, January 23rd.

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.