Swiss National Bank cut its position in shares of Forestar Group Inc. (NYSE:FOR) by 10.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,500 shares of the oil and gas exploration company’s stock after selling 5,900 shares during the period. Swiss National Bank owned approximately 0.14% of Forestar Group worth $577,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Societe Generale purchased a new position in shares of Forestar Group during the second quarter worth $102,000. BNP Paribas Arbitrage SA raised its position in shares of Forestar Group by 125.3% in the second quarter. BNP Paribas Arbitrage SA now owns 10,462 shares of the oil and gas exploration company’s stock worth $124,000 after buying an additional 5,819 shares in the last quarter. Royal Bank of Canada raised its position in shares of Forestar Group by 66.6% in the first quarter. Royal Bank of Canada now owns 19,301 shares of the oil and gas exploration company’s stock worth $252,000 after buying an additional 7,719 shares in the last quarter. Aperio Group LLC raised its position in shares of Forestar Group by 24.2% in the first quarter. Aperio Group LLC now owns 25,732 shares of the oil and gas exploration company’s stock worth $336,000 after buying an additional 5,017 shares in the last quarter. Finally, AGF Investments America Inc. purchased a new position in shares of Forestar Group during the second quarter worth $345,000.
Forestar Group Inc. (NYSE:FOR) traded down 0.80% during mid-day trading on Friday, reaching $11.11. The company had a trading volume of 37,501 shares. The company’s market capitalization is $381.08 million. Forestar Group Inc. has a 12 month low of $7.95 and a 12 month high of $14.87. The firm’s 50 day moving average price is $11.80 and its 200-day moving average price is $12.25.
Forestar Group (NYSE:FOR) last announced its quarterly earnings results on Friday, July 29th. The oil and gas exploration company reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.13. The company earned $46.40 million during the quarter, compared to the consensus estimate of $44.80 million. Forestar Group had a positive return on equity of 7.06% and a negative net margin of 66.84%. Forestar Group’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.06 EPS. Equities research analysts anticipate that Forestar Group Inc. will post $0.30 earnings per share for the current year.
Separately, Zacks Investment Research raised Forestar Group from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a report on Tuesday.
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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