Ameriprise Financial Inc. raised its stake in Forestar Group Inc (NYSE:FOR) by 24.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 219,600 shares of the oil and gas exploration company’s stock after purchasing an additional 42,850 shares during the quarter. Ameriprise Financial Inc. owned 0.52% of Forestar Group worth $3,777,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Forestar Group by 13.4% in the second quarter. Vanguard Group Inc. now owns 3,555,817 shares of the oil and gas exploration company’s stock valued at $60,983,000 after purchasing an additional 420,060 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Forestar Group by 262.8% during the second quarter. Renaissance Technologies LLC now owns 2,087,503 shares of the oil and gas exploration company’s stock valued at $35,801,000 after buying an additional 1,512,103 shares during the period. CNH Partners LLC purchased a new position in shares of Forestar Group during the second quarter valued at approximately $28,065,000. Mason Capital Management LLC purchased a new stake in Forestar Group in the second quarter worth $20,752,000. Finally, Kennedy Capital Management Inc. grew its stake in Forestar Group by 108.0% in the second quarter. Kennedy Capital Management Inc. now owns 1,059,625 shares of the oil and gas exploration company’s stock worth $18,173,000 after purchasing an additional 550,111 shares during the period. Hedge funds and other institutional investors own 79.72% of the company’s stock.
Forestar Group Inc (NYSE:FOR) opened at $21.90 on Thursday. The stock has a market capitalization of $899.59, a price-to-earnings ratio of 12.23 and a beta of 1.94. The company has a current ratio of 26.13, a quick ratio of 26.13 and a debt-to-equity ratio of 0.18. Forestar Group Inc has a 1-year low of $12.30 and a 1-year high of $23.00.
Separately, ValuEngine cut Forestar Group from a “buy” rating to a “hold” rating in a research note on Friday, December 1st.
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About Forestar Group
Forestar Group Inc is a residential and mixed-use real estate development company. The Company operates through three segments. The Real Estate segment secures entitlements and develops infrastructure on its lands, for single-family residential and mixed-use communities. The Mineral resources segment is focused on its owned oil and gas mineral interests through promoting exploration, development and production activities.
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