Assenagon Asset Management S.A. Cuts Position in Forestar Group Inc. (NYSE:FOR)

Assenagon Asset Management S.A. trimmed its holdings in shares of Forestar Group Inc. (NYSE:FOR - Free Report) by 55.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,803 shares of the oil and gas exploration company's stock after selling 19,913 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Forestar Group were worth $512,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FOR. Woodson Capital Management LP acquired a new position in Forestar Group in the 1st quarter valued at $13,367,000. Principal Financial Group Inc. boosted its position in Forestar Group by 2,409.9% during the second quarter. Principal Financial Group Inc. now owns 317,102 shares of the oil and gas exploration company's stock worth $10,144,000 after acquiring an additional 304,468 shares during the last quarter. Hennessy Advisors Inc. purchased a new stake in Forestar Group during the 2nd quarter valued at about $6,753,000. First Eagle Investment Management LLC acquired a new stake in Forestar Group in the 2nd quarter valued at about $6,592,000. Finally, Dimensional Fund Advisors LP lifted its stake in Forestar Group by 9.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,438,669 shares of the oil and gas exploration company's stock worth $78,012,000 after purchasing an additional 201,032 shares in the last quarter. Hedge funds and other institutional investors own 35.50% of the company's stock.

Forestar Group Trading Up 0.4 %

FOR traded up $0.14 during trading hours on Monday, reaching $31.37. The company's stock had a trading volume of 64,369 shares, compared to its average volume of 192,114. The stock has a market cap of $1.59 billion, a PE ratio of 7.98 and a beta of 1.76. Forestar Group Inc. has a fifty-two week low of $25.65 and a fifty-two week high of $40.92. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.50. The business's 50-day moving average is $31.68 and its 200-day moving average is $31.83.

Forestar Group (NYSE:FOR - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas exploration company reported $1.60 earnings per share for the quarter, topping analysts' consensus estimates of $1.31 by $0.29. Forestar Group had a return on equity of 13.59% and a net margin of 13.48%. The business had revenue of $551.40 million during the quarter, compared to analysts' expectations of $503.76 million. During the same period in the prior year, the business posted $1.44 EPS. The company's revenue was up .3% compared to the same quarter last year. As a group, equities research analysts predict that Forestar Group Inc. will post 3.99 earnings per share for the current fiscal year.

Insider Activity

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

Analyst Ratings Changes

A number of equities analysts recently commented on FOR shares. BTIG Research reduced their price objective on Forestar Group from $41.00 to $37.00 and set a "buy" rating on the stock in a research report on Friday, July 19th. JPMorgan Chase & Co. reduced their price target on 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.