Forestar Group Inc. (NYSE:FOR) Short Interest Update

Forestar Group Inc. (NYSE:FOR) was the recipient of a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 322,700 shares, a drop of 6.2% from the October 31st total of 344,200 shares. Based on an average trading volume of 129,600 shares, the short-interest ratio is presently 2.5 days. Currently, 1.7% of the shares of the company are sold short.

Forestar Group Stock Performance

NYSE:FOR traded down $0.01 during mid-day trading on Tuesday, reaching $29.71. The stock had a trading volume of 90,142 shares, compared to its average volume of 186,632. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.61 and a current ratio of 1.61. Forestar Group has a twelve month low of $27.49 and a twelve month high of $40.92. The business has a 50 day simple moving average of $31.23 and a 200 day simple moving average of $31.46. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 7.41 and a beta of 1.72.

Forestar Group (NYSE:FOR) last released its 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 period last year, the company earned $1.44 earnings per share. The company’s quarterly revenue was up .3% on a year-over-year basis. On average, analysts expect that Forestar Group will post 3.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director G.F. (Rick) Ringler III sold 2,000 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was 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 approximately $193,883.58. The trade was a 25.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.49% of the stock is owned by corporate insiders.

Institutional Trading of Forestar Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 DIFC Ltd acquired a new position in Forestar Group in the 3rd quarter valued at approximately $32,000. Family Firm Inc. bought a new position in Forestar Group during the second quarter valued at about $34,000. CWM LLC increased its stake in Forestar Group by 111.6% in the second quarter. CWM LLC now owns 1,060 shares of the oil and gas exploration company’s stock valued at $34,000 after acquiring an additional 559 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Forestar Group by 115.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 924 shares of the oil and gas exploration company’s stock valued at $37,000 after purchasing an additional 495 shares in the last quarter. Finally, nVerses Capital LLC raised 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 valued at $39,000 after purchasing an additional 1,000 shares during the last quarter. 35.50% of the stock is currently owned by institutional investors.

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.