ExodusPoint Capital Management LP Makes New Investment in Forestar Group Inc. (NYSE:FOR)

ExodusPoint Capital Management LP purchased a new stake in shares of Forestar Group Inc. (NYSE:FOR) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 24,479 shares of the oil and gas exploration company’s stock, valued at approximately $634,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in Forestar Group by 4.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 158,959 shares of the oil and gas exploration company’s stock worth $5,146,000 after buying an additional 6,650 shares in the last quarter. Verition Fund Management LLC bought a new position in shares of Forestar Group during the 3rd quarter worth about $337,000. State Street Corp boosted its position in shares of Forestar Group by 0.9% during the 3rd quarter. State Street Corp now owns 427,487 shares of the oil and gas exploration company’s stock valued at $13,838,000 after acquiring an additional 3,922 shares in the last quarter. Orion Portfolio Solutions LLC increased its stake in Forestar Group by 26.0% in the third quarter. Orion Portfolio Solutions LLC now owns 10,091 shares of the oil and gas exploration company’s stock valued at $327,000 after acquiring an additional 2,082 shares during the period. Finally, Barclays PLC raised its position in Forestar Group by 20.3% in the third quarter. Barclays PLC now owns 57,622 shares of the oil and gas exploration company’s stock worth $1,865,000 after purchasing an additional 9,733 shares in the last quarter. 35.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Forestar Group

In related news, CEO Anthony W. Oxley acquired 4,300 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were purchased at an average price of $23.14 per share, with a total value of $99,502.00. Following the acquisition, the chief executive officer now directly owns 4,300 shares in the company, valued at $99,502. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.40% of the company’s stock.

Forestar Group Trading Down 0.1 %

Shares of FOR stock opened at $19.34 on Friday. The company has a market capitalization of $980.11 million, a P/E ratio of 5.42 and a beta of 1.53. Forestar Group Inc. has a 12-month low of $18.63 and a 12-month high of $37.94. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average price of $21.88 and a 200 day moving average price of $26.31.

Forestar Group (NYSE:FOR) last posted 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 firm had revenue of $250.40 million during the quarter, compared to the consensus estimate of $318.00 million. Forestar Group had a net margin of 12.50% and a return on equity of 11.74%. The company’s quarterly revenue was down 18.1% compared to the same quarter last year. Research analysts forecast that Forestar Group Inc. will post 3.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FOR has been the topic of a number of recent research reports. Citigroup decreased their price objective on Forestar Group from $39.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. JPMorgan Chase & Co. cut their target price on Forestar Group from $37.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. Finally, StockNews.com upgraded Forestar Group from a “sell” rating to a “hold” rating in a research report on Wednesday, February 26th.

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.