JPMorgan Chase & Co. Sells 261,437 Shares of Forestar Group Inc. (NYSE:FOR)

JPMorgan Chase & Co. trimmed its stake in Forestar Group Inc. (NYSE:FOR - Free Report) by 77.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 75,713 shares of the oil and gas exploration company's stock after selling 261,437 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.15% of Forestar Group worth $2,451,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Point72 DIFC Ltd purchased a new position in shares of Forestar Group during the third quarter valued at $32,000. nVerses Capital LLC grew its stake in Forestar Group by 500.0% in the third quarter. nVerses Capital LLC now owns 1,200 shares of the oil and gas exploration company's stock valued at $39,000 after purchasing an additional 1,000 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Forestar Group by 474.8% in the second quarter. EverSource Wealth Advisors LLC now owns 5,311 shares of the oil and gas exploration company's stock valued at $168,000 after purchasing an additional 4,387 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Forestar Group in the third quarter valued at about $172,000. Finally, Arete Wealth Advisors LLC purchased a new position in Forestar Group in the third quarter valued at about $227,000. Hedge funds and other institutional investors own 35.50% of the company's stock.

Forestar Group Stock Down 7.0 %

Shares of NYSE:FOR traded down $1.88 on Tuesday, reaching $24.91. The company had a trading volume of 148,299 shares, compared to its average volume of 162,344. Forestar Group Inc. has a twelve month low of $24.71 and a twelve month high of $40.92. The stock has a 50-day moving average price of $27.60 and a 200 day moving average price of $30.05. The stock has a market capitalization of $1.26 billion, a P/E ratio of 6.21 and a beta of 1.74. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.44.

Forestar Group (NYSE:FOR - Get Free Report) last announced its quarterly 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 13.59% and a net margin of 13.48%. The company had revenue of $250.40 million during the quarter, compared to analyst estimates of $318,000 billion. The firm's quarterly revenue was down 18.1% compared to the same quarter last year. On average, equities analysts expect that Forestar Group Inc. will post 3.67 EPS for the current year.

Analyst Ratings Changes

Separately, Citigroup lowered their target price on Forestar Group from $43.00 to $39.00 and set a "buy" rating on the stock in a research note on Monday, January 6th.

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.