Forestar Group (NYSE:FOR) Hits New 12-Month Low – Here’s Why

Forestar Group Inc. (NYSE:FOR)’s share price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $26.00 and last traded at $26.11, with a volume of 190732 shares changing hands. The stock had previously closed at $26.99.

Forestar Group Trading Down 3.3 %

The business’s fifty day moving average is $30.40 and its 200-day moving average is $31.04. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.61 and a current ratio of 1.61. The firm has a market cap of $1.32 billion, a P/E ratio of 6.51 and a beta of 1.72.

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

Insider Buying and Selling

In related 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 stock was sold at an average price of $32.58, for a total value of $65,160.00. Following the sale, the director now directly owns 5,951 shares in the company, valued at $193,883.58. This represents a 25.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.49% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FOR. Point72 DIFC Ltd acquired a new stake in shares of Forestar Group during the third quarter worth $32,000. Family Firm Inc. acquired a new stake in Forestar Group during the 2nd quarter worth about $34,000. CWM LLC raised its position in shares of Forestar Group by 111.6% in the 2nd quarter. CWM LLC now owns 1,060 shares of the oil and gas exploration company’s stock worth $34,000 after acquiring an additional 559 shares in the last quarter. nVerses Capital LLC raised its position in shares of 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 acquiring an additional 1,000 shares in the last quarter. Finally, Innealta Capital LLC acquired a new position in shares of Forestar Group in the 2nd quarter valued at about $112,000. Institutional investors and hedge funds own 35.50% of the company’s stock.

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.