R Squared Ltd Takes Position in Forestar Group Inc. (NYSE:FOR)

R Squared Ltd acquired a new position in shares of Forestar Group Inc. (NYSE:FOR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,650 shares of the oil and gas exploration company’s stock, valued at approximately $95,000.

Several other large investors have also made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. increased its position in Forestar Group by 4.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,831 shares of the oil and gas exploration company’s stock worth $286,000 after buying an additional 392 shares during the period. Carolina Wealth Advisors LLC increased its position in Forestar Group by 2.3% during the fourth quarter. Carolina Wealth Advisors LLC now owns 20,589 shares of the oil and gas exploration company’s stock worth $534,000 after acquiring an additional 454 shares during the period. The Manufacturers Life Insurance Company raised its stake in Forestar Group by 7.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,920 shares of the oil and gas exploration company’s stock valued at $349,000 after purchasing an additional 765 shares during the last quarter. Point72 DIFC Ltd bought a new stake in Forestar Group in the 3rd quarter valued at $32,000. Finally, nVerses Capital LLC grew its position in Forestar Group by 500.0% in the 3rd quarter. nVerses Capital LLC now owns 1,200 shares of the oil and gas exploration company’s stock worth $39,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 35.50% of the company’s stock.

Forestar Group Stock Performance

NYSE:FOR opened at $24.67 on Friday. The firm has a market capitalization of $1.25 billion, a PE ratio of 6.91 and a beta of 1.74. The company has a quick ratio of 1.61, a current ratio of 0.50 and a debt-to-equity ratio of 0.50. Forestar Group Inc. has a 12-month low of $23.32 and a 12-month high of $40.92. The firm has a 50-day moving average price of $26.77 and a 200 day moving average price of $29.66.

Forestar Group (NYSE:FOR) last issued its earnings results on Tuesday, January 21st. The oil and gas exploration company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.33). The company had revenue of $250.40 million during the quarter, compared to analyst estimates of $318.00 million. Forestar Group had a return on equity of 11.74% and a net margin of 12.50%. Forestar Group’s revenue was down 18.1% on a year-over-year basis. Research analysts anticipate that Forestar Group Inc. will post 3.67 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. cut their price objective on shares of Forestar Group from $37.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday. StockNews.com downgraded Forestar Group from a “hold” rating to a “sell” rating in a research report on Monday. Finally, Citigroup lowered their price objective on Forestar Group from $39.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd.

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.