Sei Investments Co. Purchases 17,786 Shares of Forestar Group Inc $FOR

Sei Investments Co. grew its holdings in shares of Forestar Group Inc (NYSE:FOR) by 79.5% in the first quarter, HoldingsChannel.com reports. The fund owned 40,159 shares of the oil and gas exploration company’s stock after acquiring an additional 17,786 shares during the quarter. Sei Investments Co.’s holdings in Forestar Group were worth $981,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd boosted its position in shares of Forestar Group by 1,206.6% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 993 shares of the oil and gas exploration company’s stock valued at $26,000 after purchasing an additional 917 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in Forestar Group in the fourth quarter worth approximately $27,000. Comerica Bank increased its holdings in Forestar Group by 76.5% in the third quarter. Comerica Bank now owns 1,269 shares of the oil and gas exploration company’s stock worth $34,000 after purchasing an additional 550 shares in the last quarter. Fifth Third Bancorp acquired a new position in Forestar Group in the first quarter valued at approximately $31,000. Finally, New York State Teachers Retirement System acquired a new position in Forestar Group in the first quarter valued at approximately $44,000. 35.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FOR. Citizens Jmp restated a “market outperform” rating and set a $35.00 price target on shares of Forestar Group in a report on Wednesday, July 22nd. Weiss Ratings lowered shares of Forestar Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, July 29th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Forestar Group presently has a consensus rating of “Hold” and a consensus price target of $32.67.

Forestar Group Stock Down 0.1%

Shares of NYSE:FOR opened at $29.05 on Thursday. The business’s 50 day moving average is $29.45 and its 200 day moving average is $27.74. Forestar Group Inc has a 12-month low of $22.81 and a 12-month high of $32.06. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of 8.72 and a beta of 1.41. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.43.

Forestar Group (NYSE:FOR) last released its quarterly earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.11). Forestar Group had a net margin of 9.88% and a return on equity of 9.42%. The company had revenue of $407.00 million during the quarter, compared to analysts’ expectations of $437.73 million. During the same period in the previous year, the company posted $0.65 earnings per share. The company’s quarterly revenue was up 4.2% compared to the same quarter last year.

Forestar Group Profile

Forestar Group Inc, headquartered in Austin, Texas, is a residential lot development and management company focused on delivering finished home sites to homebuilders across the United States. The company acquires, entitles and develops land for single-family and multi-family housing, managing zoning, infrastructure and environmental approvals to prepare lots for construction. Forestar’s integrated approach to land development spans from initial site acquisition through final lot delivery, providing homebuilders with ready-to-build parcels in a variety of markets.

In addition to lot development, Forestar operates a retail homebuilding segment through joint ventures and strategic partnerships with national and regional homebuilders.