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

Forestar Group Inc. (NYSE:FOR - Get Free Report) was the recipient of a large decrease in short interest in May. As of May 31st, there was short interest totalling 502,600 shares, a decrease of 6.5% from the May 15th total of 537,400 shares. Currently, 2.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 230,700 shares, the short-interest ratio is presently 2.2 days.

Insider Activity at Forestar Group

In related news, CEO Anthony W. Oxley bought 3,210 shares of the firm's stock in a transaction that occurred on Wednesday, April 24th. The stock was purchased at an average price of $31.15 per share, for a total transaction of $99,991.50. Following the transaction, the chief executive officer now directly owns 3,210 shares of the company's stock, valued at approximately $99,991.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.49% of the stock is currently owned by insiders.

Institutional Trading of Forestar Group

Hedge funds have recently made changes to their positions in the stock. Transcendent Capital Group LLC purchased a new stake in shares of Forestar Group in the first quarter worth approximately $32,000. EverSource Wealth Advisors LLC grew its holdings in Forestar Group by 115.4% during the first 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. Federated Hermes Inc. grew its holdings in Forestar Group by 1,601.6% during the third quarter. Federated Hermes Inc. now owns 1,038 shares of the oil and gas exploration company's stock valued at $28,000 after purchasing an additional 977 shares during the last quarter. McGlone Suttner Wealth Management Inc. acquired a new position in Forestar Group during the fourth quarter valued at approximately $35,000. Finally, Allspring Global Investments Holdings LLC lifted its position in Forestar Group by 88.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,436 shares of the oil and gas exploration company's stock worth $147,000 after purchasing an additional 2,077 shares during the period. 35.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Citigroup raised their price objective on shares of Forestar Group from $44.00 to $46.00 and gave the company a "buy" rating in a research report on Friday, May 17th. StockNews.com lowered shares of Forestar Group from a "buy" rating to a "hold" rating in a research report on Friday, April 26th.

Forestar Group Trading Down 0.9 %

FOR stock traded down $0.29 during mid-day trading on Monday, reaching $31.87. 92,224 shares of the stock traded hands, compared to its average volume of 211,221. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.48. Forestar Group has a 52-week low of $20.35 and a 52-week high of $40.92. The company has a market cap of $1.61 billion, a P/E ratio of 7.94 and a beta of 1.78. The stock's fifty day moving average is $33.68 and its 200-day moving average is $33.86.

Forestar Group (NYSE:FOR - Get Free Report) last posted its quarterly earnings results on Thursday, April 18th. The oil and gas exploration company reported $0.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.84 by $0.05. The business had revenue of $333.80 million during the quarter, compared to analyst estimates of $345.60 million. Forestar Group had a net margin of 12.99% and a return on equity of 14.59%. As a group, sell-side analysts expect that Forestar Group will post 3.87 earnings per share for the current year.

About Forestar Group

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.