Forestar Group Inc. CEO Makes Significant Stock Purchase

On February 14th, Anthony W. Oxley, the CEO of Forestar Group Inc. (NYSE:FOR), made a noteworthy investment by purchasing 4,300 shares of the company’s stock. The shares were acquired at an average price of $23.14 each, leading to a total expenditure of $99,502.00. Following this purchase, Oxley now holds 4,300 shares of the company, which are also valued at $99,502. This transaction signifies an increase in his direct ownership of the stock. The details of this acquisition were reported in a legal filing with the Securities and Exchange Commission (SEC), which is publicly accessible for review.

Forestar Group Stock Overview

On the trading day following the purchase, shares of Forestar Group experienced a slight uptick of $0.14, reaching a value of $23.39. The trading volume on this day was 123,885 shares, slightly below the average of 194,996 shares. Forestar Group has a market capitalization of approximately $1.19 billion, a price-to-earnings ratio of 6.55, and a beta of 1.72. The company has a debt-to-equity ratio of 0.50, alongside current and quick ratios both at 0.50. Over the past fifty days, the stock has seen a moving average price of $25.22, while the 200-day moving average stands at $28.83. Forestar Group’s shares have observed a fifty-two week low of $22.42 and a high of $40.92.

Recent Earnings Report

Forestar Group recently announced its earnings results on January 21st, reporting earnings of $0.32 per share (EPS) for the quarter. This result fell short of the analysts' consensus expectation of $0.65 by a margin of $0.33. The company's revenue for the period reached $250.40 million, but this was also below the analysts' forecast of $318.00 million. Forestar Group maintained a net margin of 12.50% and a return on equity of 11.74%, although quarterly revenue was down 18.1% compared to the same quarter last year. Analysts predict that the company will post an EPS of 3.44 for the current fiscal year.

Institutional Investor Activity

Several institutional investors have made recent adjustments to their holdings in Forestar Group. For instance, Connor Clark & Lunn Investment Management Ltd. increased its stake in the company by 4.6% during the third quarter, owning 8,831 shares valued at around $286,000 after adding 392 shares. In the fourth quarter, Carolina Wealth Advisors LLC raised its holdings in the company by 2.3%, now owning 20,589 shares worth approximately $534,000 after acquiring an additional 454 shares. Other institutions, such as MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd., Sterling Capital Management LLC, and EverSource Wealth Advisors LLC, also made increases to their stakes. In total, institutional investors and hedge funds own about 35.50% of Forestar Group's stock.

Analyst Ratings Updates

Recently, various research firms have issued updates regarding Forestar Group. On January 28th, JPMorgan Chase & Co. lowered their price target for the stock from $37.00 to $30.00, maintaining a "neutral" rating. Additionally, StockNews.com changed its rating from "hold" to "sell" on the same date. Citigroup also revised its price target down from $39.00 to $32.00 while keeping a "buy" rating for the stock as of January 23rd.

Company Profile

Forestar Group Inc. is a residential lot development company based in the United States. The firm specializes in acquiring land and developing the necessary infrastructure for single-family residential communities. It primarily sells completed residential lots to various homebuilders across local, regional, and national markets. Established in 2005, Forestar Group is headquartered in Arlington, Texas.

CEO, Stock, Investment