SG Americas Securities LLC Reduces Position in Forestar Group Inc. (NYSE:FOR)

SG Americas Securities LLC decreased its holdings in shares of Forestar Group Inc. (NYSE:FOR) by 55.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 3,996 shares of the oil and gas exploration company’s stock after selling 4,908 shares during the period. SG Americas Securities LLC’s holdings in Forestar Group were worth $129,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of FOR. Vanguard Group Inc. boosted its holdings in Forestar Group by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 2,805,957 shares of the oil and gas exploration company’s stock valued at $112,771,000 after acquiring an additional 28,379 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Forestar Group by 9.0% during the second 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 during the last quarter. American Century Companies Inc. lifted its position in shares of Forestar Group by 22.5% during the second quarter. American Century Companies Inc. now owns 461,388 shares of the oil and gas exploration company’s stock worth $14,760,000 after purchasing an additional 84,861 shares during the last quarter. Bridgeway Capital Management LLC boosted its stake in shares of Forestar Group by 11.0% during the first quarter. Bridgeway Capital Management LLC now owns 439,892 shares of the oil and gas exploration company’s stock valued at $17,679,000 after purchasing an additional 43,457 shares during the period. Finally, Woodson Capital Management LP bought a new position in shares of Forestar Group in the first quarter worth about $13,367,000. 35.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FOR. Citigroup decreased their price objective on shares of Forestar Group from $46.00 to $43.00 and set a “buy” rating for the company in a report on Tuesday, July 2nd. BTIG Research reduced their target price on shares of Forestar Group from $41.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, July 19th. Finally, JPMorgan Chase & Co. lowered their price target on Forestar Group from $37.50 to $36.00 and set a “neutral” rating for the company in a report on Thursday, July 25th.

Forestar Group Stock Performance

FOR stock opened at $31.47 on Friday. Forestar Group Inc. has a 1-year low of $22.99 and a 1-year high of $40.92. The business has a 50-day moving average price of $31.53 and a 200 day moving average price of $32.10. The company has a market capitalization of $1.59 billion, a P/E ratio of 7.83 and a beta of 1.76. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.50 and a quick ratio of 1.50.

Insider Buying and Selling at Forestar Group

In other news, Director G.F. (Rick) Ringler III sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $32.58, for a total value of $65,160.00. Following the completion of the sale, the director now owns 5,951 shares of the company’s stock, valued at approximately $193,883.58. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders have sold 3,548 shares of company stock valued at $112,411. Company insiders own 0.49% of the company’s stock.

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.