Cubist Systematic Strategies LLC Sells 17,951 Shares of Forestar Group Inc. (NYSE:FOR)

Cubist Systematic Strategies LLC trimmed its holdings in shares of Forestar Group Inc. (NYSE:FOR) by 32.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,930 shares of the oil and gas exploration company’s stock after selling 17,951 shares during the period. Cubist Systematic Strategies LLC owned 0.07% of Forestar Group worth $983,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Bridgeway Capital Management LLC grew its holdings in Forestar Group by 2.7% during the fourth quarter. Bridgeway Capital Management LLC now owns 481,253 shares of the oil and gas exploration company’s stock valued at $12,474,000 after purchasing an additional 12,473 shares during the period. Bank of America Corp DE grew its holdings in Forestar Group by 106.4% during the fourth quarter. Bank of America Corp DE now owns 39,035 shares of the oil and gas exploration company’s stock valued at $1,012,000 after purchasing an additional 20,127 shares during the period. BNP Paribas Financial Markets grew its holdings in Forestar Group by 254.1% during the fourth quarter. BNP Paribas Financial Markets now owns 14,058 shares of the oil and gas exploration company’s stock valued at $364,000 after purchasing an additional 10,088 shares during the period. Algert Global LLC boosted its holdings in shares of Forestar Group by 18.9% in the fourth quarter. Algert Global LLC now owns 97,735 shares of the oil and gas exploration company’s stock valued at $2,533,000 after buying an additional 15,522 shares during the period. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in shares of Forestar Group by 27.8% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 8,535 shares of the oil and gas exploration company’s stock valued at $221,000 after buying an additional 1,856 shares during the period. Institutional investors and hedge funds own 35.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on FOR shares. StockNews.com upgraded shares of Forestar Group from a “sell” rating to a “hold” rating in a report on Wednesday, February 26th. Citigroup reduced their price target on shares of Forestar Group from $39.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. JPMorgan Chase & Co. reduced their price target on shares of Forestar Group from $37.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, January 28th. Finally, BTIG Research reduced their price target on shares of Forestar Group from $36.00 to $29.00 and set a “buy” rating for the company in a report on Monday, April 21st.

Forestar Group Stock Down 2.6%

Forestar Group stock opened at $20.07 on Thursday. The company has a market cap of $1.02 billion, a P/E ratio of 5.62 and a beta of 1.46. Forestar Group Inc. has a 1-year low of $18.00 and a 1-year high of $37.21. The company has a fifty day simple moving average of $20.43 and a 200 day simple moving average of $24.38. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.50.

Forestar Group (NYSE:FOR) last released its earnings results on Thursday, April 17th. The oil and gas exploration company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.07). The business had revenue of $351.00 million during the quarter, compared to the consensus estimate of $379.60 million. Forestar Group had a net margin of 12.50% and a return on equity of 11.74%. Research analysts anticipate that Forestar Group Inc. will post 3.44 earnings per share for the current fiscal year.

Insider Activity at Forestar Group

In other Forestar Group news, Director Elizabeth Parmer sold 1,460 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $20.57, for a total value of $30,032.20. Following the completion of the sale, the director now owns 3,357 shares in the company, valued at $69,053.49. This trade represents a 30.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Anthony W. Oxley purchased 4,300 shares of the business’s stock in a transaction on Friday, February 14th. The stock was purchased at an average price of $23.14 per share, with a total value of $99,502.00. Following the purchase, the chief executive officer now owns 4,300 shares of the company’s stock, valued at approximately $99,502. The trade was a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.40% of the stock is owned by insiders.

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.