BNP Paribas Arbitrage SA lifted its stake in shares of Forestar Group Inc. (NYSE:FOR) by 299.8% in the first quarter, HoldingsChannel reports. The institutional investor owned 2,199 shares of the oil and gas exploration company’s stock after buying an additional 1,649 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Forestar Group were worth $38,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Millennium Management LLC acquired a new position in Forestar Group in the fourth quarter worth $175,000. Prudential Financial Inc. boosted its holdings in Forestar Group by 6.8% in the fourth quarter. Prudential Financial Inc. now owns 14,712 shares of the oil and gas exploration company’s stock worth $204,000 after purchasing an additional 939 shares during the period. Rhumbline Advisers boosted its holdings in Forestar Group by 33.5% in the fourth quarter. Rhumbline Advisers now owns 18,088 shares of the oil and gas exploration company’s stock worth $251,000 after purchasing an additional 4,539 shares during the period. Norges Bank acquired a new position in Forestar Group in the fourth quarter worth $302,000. Finally, GSA Capital Partners LLP boosted its holdings in Forestar Group by 165.2% in the fourth quarter. GSA Capital Partners LLP now owns 42,541 shares of the oil and gas exploration company’s stock worth $589,000 after purchasing an additional 26,500 shares during the period. 21.44% of the stock is owned by institutional investors and hedge funds.
FOR has been the subject of a number of research reports. BTIG Research initiated coverage on shares of Forestar Group in a report on Monday, April 15th. They issued a “buy” rating and a $23.00 price objective for the company. Zacks Investment Research raised shares of Forestar Group from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Tuesday, June 4th. Finally, Buckingham Research initiated coverage on shares of Forestar Group in a report on Wednesday, June 5th. They issued a “buy” rating and a $23.00 price objective for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $21.25.
Forestar Group stock opened at $18.21 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.23 and a quick ratio of 1.23. Forestar Group Inc. has a 12 month low of $12.77 and a 12 month high of $25.95.
Forestar Group (NYSE:FOR) last released its quarterly earnings data on Tuesday, April 30th. The oil and gas exploration company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.15. The business had revenue of $65.30 million during the quarter. Equities research analysts predict that Forestar Group Inc. will post 0.6 EPS for the current fiscal year.
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Forestar Group Company Profile
Forestar Group Inc operates as a real estate lot development company. It engages in the acquisition, entitlement, and development of infrastructure for single-family residential communities. Forestar Group Inc sells residential lots primarily to homebuilders, as well as sells commercial properties. The company is headquartered in Austin, Texas.
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