Forestar Group Inc. (NYSE:FOR) Short Interest Update

Forestar Group Inc. (NYSE:FOR - Get Free Report) was the target of a significant decline in short interest in October. As of October 31st, there was short interest totalling 344,200 shares, a decline of 11.5% from the October 15th total of 389,000 shares. Currently, 1.8% of the company's shares are sold short. Based on an average daily trading volume, of 135,200 shares, the days-to-cover ratio is currently 2.5 days.

Insider Activity

In other news, Director G.F. (Rick) Ringler III sold 2,000 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $32.58, for a total transaction of $65,160.00. Following the sale, the director now owns 5,951 shares of the company's stock, valued at approximately $193,883.58. This represents a 25.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.49% of the company's stock.

Hedge Funds Weigh In On Forestar Group

Large investors have recently bought and sold shares of the business. Transcendent Capital Group LLC acquired a new position in shares of Forestar Group in the 1st quarter valued at $32,000. Point72 DIFC Ltd acquired a new position in Forestar Group in the third quarter valued at $32,000. CWM LLC grew its holdings in shares of Forestar Group by 111.6% during the second quarter. CWM LLC now owns 1,060 shares of the oil and gas exploration company's stock worth $34,000 after purchasing an additional 559 shares during the last quarter. Family Firm Inc. acquired a new stake in shares of Forestar Group during the second quarter worth about $34,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Forestar Group by 115.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 924 shares of the oil and gas exploration company's stock valued at $37,000 after purchasing an additional 495 shares during the last quarter. Hedge funds and other institutional investors own 35.50% of the company's stock.

Forestar Group Stock Down 0.7 %

Shares of Forestar Group stock traded down $0.21 on Friday, reaching $29.40. 150,431 shares of the company were exchanged, compared to its average volume of 117,104. The stock's 50 day moving average price is $31.74 and its 200-day moving average price is $31.79. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.50. Forestar Group has a 1-year low of $27.49 and a 1-year high of $40.92. The company has a market cap of $1.49 billion, a P/E ratio of 7.33 and a beta of 1.76.

Forestar Group (NYSE:FOR - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas exploration company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.31 by $0.29. Forestar Group had a net margin of 13.48% and a return on equity of 13.59%. The company had revenue of $551.40 million during the quarter, compared to analysts' expectations of $503.76 million. During the same quarter in the previous year, the business posted $1.44 EPS. The firm's revenue was up .3% on a year-over-year basis. As a group, equities analysts forecast that Forestar Group will post 3.67 EPS for the current year.

Wall Street Analyst Weigh In

Separately, 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 report on Thursday, July 25th.

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.