Forestar Group Inc. (FOR) Sees Large Volume Increase
Shares of Forestar Group Inc. (NYSE:FOR) saw strong trading volume on Friday . 1,207,187 shares traded hands during trading, an increase of 308% from the previous session’s volume of 295,813 shares.The stock last traded at $11.33 and had previously closed at $11.51.
Separately, Zacks Investment Research upgraded shares of Forestar Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 12th.
The stock’s market capitalization is $388.63 million. The stock has a 50-day moving average of $12.23 and a 200-day moving average of $12.27.
Forestar Group (NYSE:FOR) last posted its quarterly earnings data on Friday, July 29th. The oil and gas exploration company reported $0.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.13. The company had revenue of $46.40 million for the quarter, compared to analysts’ expectations of $44.80 million. Forestar Group had a negative net margin of 66.84% and a positive return on equity of 7.06%. Forestar Group’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.06 earnings per share. Equities research analysts forecast that Forestar Group Inc. will post $0.30 earnings per share for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Emerald Acquisition Ltd. bought a new position in Forestar Group during the second quarter valued at $5,474,000. Cove Street Capital LLC boosted its position in Forestar Group by 10.2% in the second quarter. Cove Street Capital LLC now owns 3,536,822 shares of the oil and gas exploration company’s stock valued at $42,053,000 after buying an additional 326,737 shares during the period. JPMorgan Chase & Co. boosted its position in Forestar Group by 18.0% in the first quarter. JPMorgan Chase & Co. now owns 1,774,964 shares of the oil and gas exploration company’s stock valued at $23,147,000 after buying an additional 270,886 shares during the period. AGF Investments Inc. boosted its position in Forestar Group by 20.4% in the second quarter. AGF Investments Inc. now owns 868,930 shares of the oil and gas exploration company’s stock valued at $10,329,000 after buying an additional 146,967 shares during the period. Finally, BlackRock Fund Advisors boosted its position in Forestar Group by 4.8% in the second quarter. BlackRock Fund Advisors now owns 2,265,954 shares of the oil and gas exploration company’s stock valued at $26,942,000 after buying an additional 104,708 shares during the period.
About Forestar Group
Forestar Group Inc is a residential and mixed-use real estate development company. The Company operates through three segments: Real Estate, Oil and Gas, and Other Natural Resources. Its Real Estate segment secures entitlements and develops infrastructure on its lands for single-family residential and mixed-use communities, and manages its undeveloped land, commercial and income producing properties, mainly a hotel and its multifamily properties.
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