Sei Investments Co. Cuts Holdings in Forestar Group Inc. (NYSE:FOR)

Sei Investments Co. lessened its position in shares of Forestar Group Inc. (NYSE:FOR) by 66.8% in the second quarter, Holdings Channel.com reports. The fund owned 22,432 shares of the oil and gas exploration company’s stock after selling 45,059 shares during the quarter. Sei Investments Co.’s holdings in Forestar Group were worth $718,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Forestar Group by 19.0% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 169,100 shares of the oil and gas exploration company’s stock valued at $5,410,000 after purchasing an additional 27,000 shares in the last quarter. EMG Holdings L.P. purchased a new position in Forestar Group in the second quarter valued at approximately $911,000. First Eagle Investment Management LLC acquired a new position in Forestar Group during the second quarter valued at approximately $6,592,000. Denali Advisors LLC grew its stake in Forestar Group by 7.9% during the second quarter. Denali Advisors LLC now owns 141,727 shares of the oil and gas exploration company’s stock worth $4,534,000 after buying an additional 10,425 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of Forestar Group by 4.9% in the second quarter. Renaissance Technologies LLC now owns 154,080 shares of the oil and gas exploration company’s stock worth $4,929,000 after acquiring an additional 7,180 shares in the last quarter. 35.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Elizabeth Parmer sold 1,547 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $32.24, for a total value of $49,875.28. Following the completion of the transaction, the director now owns 1,548 shares of the company’s stock, valued at approximately $49,907.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Forestar Group news, Director G.F. (Rick) Ringler III sold 2,000 shares of the firm’s stock in a transaction on Friday, September 27th. The shares were 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 of the company’s stock, valued at $193,883.58. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Elizabeth Parmer sold 1,547 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $32.24, for a total transaction of $49,875.28. Following the completion of the sale, the director now owns 1,548 shares in the company, valued at approximately $49,907.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,095 shares of company stock worth $162,287 over the last ninety days. Corporate insiders own 0.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Citigroup reduced their target price on shares of Forestar Group from $46.00 to $43.00 and set a “buy” rating on the stock in a report on Tuesday, July 2nd. JPMorgan Chase & Co. cut their price objective 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. Finally, 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 note on Friday, July 19th.

Forestar Group Stock Down 0.7 %

Shares of NYSE:FOR opened at $31.41 on Wednesday. The company has a 50 day moving average of $30.84 and a two-hundred day moving average of $32.65. Forestar Group Inc. has a 52-week low of $22.71 and a 52-week high of $40.92. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 7.81 and a beta of 1.76.

Forestar Group (NYSE:FOR) last released its quarterly earnings results on Thursday, July 18th. The oil and gas exploration company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.13). Forestar Group had a return on equity of 13.48% and a net margin of 12.89%. The firm had revenue of $318.40 million for the quarter, compared to analysts’ expectations of $370.50 million. As a group, analysts forecast that Forestar Group Inc. will post 3.72 earnings per share for the current fiscal year.

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.