Cornerstone Investment Partners LLC Makes New $226,000 Investment in Forestar Group Inc. (NYSE:FOR)

Cornerstone Investment Partners LLC bought a new position in shares of Forestar Group Inc. (NYSE:FOR) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 6,820 shares of the oil and gas exploration company’s stock, valued at approximately $226,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FOR. Denali Advisors LLC raised its holdings in shares of Forestar Group by 81.1% during the 4th quarter. Denali Advisors LLC now owns 81,728 shares of the oil and gas exploration company’s stock worth $2,703,000 after acquiring an additional 36,600 shares during the period. Numerai GP LLC raised its holdings in shares of Forestar Group by 443.0% during the 3rd quarter. Numerai GP LLC now owns 74,729 shares of the oil and gas exploration company’s stock worth $2,013,000 after acquiring an additional 60,968 shares during the period. Jump Financial LLC raised its holdings in shares of Forestar Group by 221.9% during the 3rd quarter. Jump Financial LLC now owns 28,646 shares of the oil and gas exploration company’s stock worth $772,000 after acquiring an additional 19,746 shares during the period. Capula Management Ltd purchased a new position in shares of Forestar Group during the 3rd quarter worth $1,066,000. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of Forestar Group by 45.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 22,858 shares of the oil and gas exploration company’s stock worth $616,000 after acquiring an additional 7,133 shares during the period. Institutional investors and hedge funds own 35.50% of the company’s stock.

Forestar Group Trading Up 1.1 %

FOR traded up $0.34 on Friday, hitting $31.64. The company had a trading volume of 223,722 shares, compared to its average volume of 225,395. The firm has a market cap of $1.58 billion, a P/E ratio of 8.53 and a beta of 1.71. Forestar Group Inc. has a 1 year low of $15.66 and a 1 year high of $40.92. The company’s fifty day moving average price is $35.77 and its 200 day moving average price is $32.16. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.50.

Forestar Group (NYSE:FOR) last issued its quarterly earnings data on Tuesday, January 23rd. The oil and gas exploration company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.20. The firm had revenue of $305.90 million for the quarter, compared to analyst estimates of $273.00 million. Forestar Group had a net margin of 12.08% and a return on equity of 13.85%. During the same period in the previous year, the firm earned $0.42 EPS. As a group, equities analysts expect that Forestar Group Inc. will post 3.93 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Forestar Group from a “buy” rating to a “hold” rating in a report on Saturday, April 13th.

Forestar Group Company Profile

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.