Allspring Global Investments Holdings LLC Sells 25,642 Shares of Forestar Group Inc. (NYSE:FOR)

Allspring Global Investments Holdings LLC lowered its holdings in Forestar Group Inc. (NYSE:FOR - Free Report) by 38.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,348 shares of the oil and gas exploration company's stock after selling 25,642 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.08% of Forestar Group worth $1,306,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Transcendent Capital Group LLC bought a new position in Forestar Group during the first quarter valued at approximately $32,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Forestar Group by 115.4% during 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 buying an additional 495 shares during the period. Family Firm Inc. bought a new position in shares of Forestar Group during the 2nd quarter valued at $34,000. CWM LLC grew its holdings in shares of Forestar Group by 111.6% in the second quarter. CWM LLC now owns 1,060 shares of the oil and gas exploration company's stock worth $34,000 after acquiring an additional 559 shares during the period. Finally, nVerses Capital LLC increased its position in Forestar Group by 500.0% during 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 acquiring an additional 1,000 shares during the last quarter. 35.50% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Forestar Group news, Director G.F. (Rick) Ringler III sold 2,000 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $32.58, for a total value of $65,160.00. Following the completion of the sale, the director now owns 5,951 shares in the company, valued at approximately $193,883.58. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.49% of the company's stock.

Forestar Group Stock Performance

NYSE FOR traded down $0.33 on Friday, hitting $31.24. 115,928 shares of the company traded hands, compared to its average volume of 192,717. The business's 50 day moving average price is $31.68 and its 200-day moving average price is $31.92. Forestar Group Inc. has a 52-week low of $24.83 and a 52-week high of $40.92. The company has a current ratio of 1.61, a quick ratio of 1.50 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 7.79 and a beta of 1.76.

Forestar Group (NYSE:FOR - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas exploration company reported $1.60 earnings per share for the quarter, beating analysts' consensus estimates of $1.31 by $0.29. The firm had revenue of $551.40 million for the quarter, compared to analysts' expectations of $503.76 million. Forestar Group had a return on equity of 13.59% and a net margin of 13.48%. The business's quarterly revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.44 EPS. Equities analysts expect that Forestar Group Inc. will post 3.99 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on FOR shares. JPMorgan Chase & Co. dropped their target price on Forestar Group from $37.50 to $36.00 and set a "neutral" rating on the stock in a research report on Thursday, July 25th. BTIG Research cut their target price on shares of Forestar Group from $41.00 to $37.00 and set a "buy" rating for the company in a research report on Friday, July 19th.

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.