JPMorgan Chase & Co. Lowers Holdings in Forestar Group Inc. (NYSE:FOR)

JPMorgan Chase & Co. decreased its holdings in shares of Forestar Group Inc. (NYSE:FOR) by 77.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 75,713 shares of the oil and gas exploration company’s stock after selling 261,437 shares during the quarter. JPMorgan Chase & Co.’s holdings in Forestar Group were worth $2,451,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Point72 DIFC Ltd purchased a new position in shares of Forestar Group during the 3rd quarter worth $32,000. nVerses Capital LLC boosted its stake in Forestar Group by 500.0% during the third quarter. nVerses Capital LLC now owns 1,200 shares of the oil and gas exploration company’s stock worth $39,000 after buying an additional 1,000 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Forestar Group by 474.8% during the second quarter. EverSource Wealth Advisors LLC now owns 5,311 shares of the oil and gas exploration company’s stock valued at $168,000 after acquiring an additional 4,387 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Forestar Group during the third quarter valued at about $172,000. Finally, Arete Wealth Advisors LLC purchased a new stake in shares of Forestar Group in the 3rd quarter valued at approximately $227,000. Hedge funds and other institutional investors own 35.50% of the company’s stock.

Forestar Group Price Performance

FOR opened at $26.80 on Tuesday. The stock’s 50-day moving average price is $27.60 and its 200 day moving average price is $30.05. Forestar Group Inc. has a 12-month low of $24.81 and a 12-month high of $40.92. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of 6.68 and a beta of 1.74. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.44.

Forestar Group (NYSE:FOR) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas exploration company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.29. Forestar Group had a net margin of 13.48% and a return on equity of 13.59%. The business had revenue of $551.40 million for the quarter, compared to analysts’ expectations of $503.76 million. During the same quarter in the prior year, the company earned $1.44 earnings per share. The business’s quarterly revenue was up .3% on a year-over-year basis. As a group, sell-side analysts expect that Forestar Group Inc. will post 3.67 earnings per share for the current year.

Analyst Ratings Changes

Separately, Citigroup lowered their price objective on shares of Forestar Group from $43.00 to $39.00 and set a “buy” rating for the company in a research report on Monday, January 6th.

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.