49,376 Shares in Forestar Group Inc $FOR Acquired by PDT Partners LLC

PDT Partners LLC acquired a new stake in shares of Forestar Group Inc (NYSE:FOR) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 49,376 shares of the oil and gas exploration company’s stock, valued at approximately $1,563,000.

Other large investors have also modified their holdings of the company. Comerica Bank lifted its stake in Forestar Group by 76.5% during the third quarter. Comerica Bank now owns 1,269 shares of the oil and gas exploration company’s stock valued at $34,000 after buying an additional 550 shares in the last quarter. Glenmede Trust Co. NA boosted its stake in shares of Forestar Group by 3.4% during the 1st quarter. Glenmede Trust Co. NA now owns 21,687 shares of the oil and gas exploration company’s stock valued at $530,000 after buying an additional 714 shares during the period. Caitong International Asset Management Co. Ltd grew its stake in Forestar Group by 1,206.6% in the third 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. First Trust Advisors LP grew its stake in shares of Forestar Group by 0.6% in the 2nd quarter. First Trust Advisors LP now owns 160,204 shares of the oil and gas exploration company’s stock valued at $3,204,000 after buying an additional 952 shares in the last quarter. Finally, Allworth Financial LP bought a new stake in Forestar Group in the second quarter worth approximately $33,000. 35.50% of the stock is owned by institutional investors.

Forestar Group Trading Up 0.0%

Shares of FOR stock opened at $28.96 on Thursday. Forestar Group Inc has a 12-month low of $22.81 and a 12-month high of $32.06. The firm has a 50-day moving average price of $29.56 and a 200 day moving average price of $27.93. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $1.48 billion, a P/E ratio of 8.70 and a beta of 1.41.

Forestar Group (NYSE:FOR) last released its quarterly earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.70 earnings per share (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 business had revenue of $407.00 million during the quarter, compared to the consensus estimate of $437.73 million. During the same period in the prior year, the firm earned $0.65 earnings per share. The business’s quarterly revenue was up 4.2% compared to the same quarter last year.

Analysts Set New Price Targets

FOR has been the topic of a number of analyst reports. Weiss Ratings raised Forestar Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, August 12th. Citizens Jmp restated a “market outperform” rating and set a $35.00 price objective on shares of Forestar Group in a report on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $32.67.

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.