157,313 Shares in Forestar Group Inc $FOR Acquired by Harel Insurance Investments & Financial Services Ltd.

Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Forestar Group Inc (NYSE:FOR) in the first quarter, HoldingsChannel.com reports. The firm bought 157,313 shares of the oil and gas exploration company’s stock, valued at approximately $3,845,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. AQR Capital Management LLC raised its position in shares of Forestar Group by 32.1% in the 1st quarter. AQR Capital Management LLC now owns 227,559 shares of the oil and gas exploration company’s stock worth $4,811,000 after acquiring an additional 55,266 shares in the last quarter. Millennium Management LLC boosted its position in Forestar Group by 50.8% during the first quarter. Millennium Management LLC now owns 489,230 shares of the oil and gas exploration company’s stock valued at $10,342,000 after purchasing an additional 164,753 shares in the last quarter. NewEdge Advisors LLC boosted its position in Forestar Group by 63.7% during the first quarter. NewEdge Advisors LLC now owns 4,829 shares of the oil and gas exploration company’s stock valued at $102,000 after purchasing an additional 1,879 shares in the last quarter. Jane Street Group LLC purchased a new position in Forestar Group in the first quarter valued at about $850,000. Finally, Strs Ohio purchased a new position in Forestar Group in the first quarter valued at about $74,000. 35.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FOR has been the subject of several analyst reports. Weiss Ratings lowered shares of Forestar Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 18th. Zacks Research lowered shares of Forestar Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Finally, BTIG Research started coverage on shares of Forestar Group in a research report on Monday, March 30th. They set a “hold” rating for the company. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $32.67.

Forestar Group Stock Performance

FOR opened at $30.42 on Thursday. The company has a market cap of $1.55 billion, a P/E ratio of 9.28 and a beta of 1.39. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.44. The firm’s 50-day moving average price is $28.58 and its 200-day moving average price is $27.32. Forestar Group Inc has a 52-week low of $21.53 and a 52-week high of $32.06.

Forestar Group (NYSE:FOR) last released its earnings results on Tuesday, April 21st. The oil and gas exploration company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.09). The company had revenue of $374.30 million during the quarter, compared to analyst estimates of $372.56 million. Forestar Group had a return on equity of 9.49% and a net margin of 9.80%.The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the business earned $0.62 earnings per share.

Forestar Group Company Profile

Forestar Group Inc, headquartered in Austin, Texas, is a residential lot development and management company focused on delivering finished home sites to homebuilders across the United States. The company acquires, entitles and develops land for single-family and multi-family housing, managing zoning, infrastructure and environmental approvals to prepare lots for construction. Forestar’s integrated approach to land development spans from initial site acquisition through final lot delivery, providing homebuilders with ready-to-build parcels in a variety of markets.

In addition to lot development, Forestar operates a retail homebuilding segment through joint ventures and strategic partnerships with national and regional homebuilders.