Allianz Asset Management GmbH decreased its stake in Forestar Group Inc. (NYSE:FOR) by 24.2% during the first quarter, Holdings Channel reports. The institutional investor owned 77,384 shares of the oil and gas exploration company’s stock after selling 24,682 shares during the quarter. Allianz Asset Management GmbH’s holdings in Forestar Group were worth $1,637,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of FOR. Long Pond Capital LP boosted its stake in shares of Forestar Group by 58.3% in the fourth quarter. Long Pond Capital LP now owns 3,372,173 shares of the oil and gas exploration company’s stock worth $74,188,000 after buying an additional 1,242,437 shares during the last quarter. Luxor Capital Group LP purchased a new stake in shares of Forestar Group in the fourth quarter worth about $6,174,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Forestar Group in the fourth quarter worth about $5,294,000. Bamco Inc. NY purchased a new stake in shares of Forestar Group in the first quarter worth about $4,762,000. Finally, Two Sigma Investments LP boosted its stake in shares of Forestar Group by 131.9% in the fourth quarter. Two Sigma Investments LP now owns 222,641 shares of the oil and gas exploration company’s stock worth $4,898,000 after buying an additional 126,645 shares during the last quarter. Hedge funds and other institutional investors own 23.15% of the company’s stock.
Shares of FOR opened at $20.75 on Friday. Forestar Group Inc. has a 52 week low of $15.35 and a 52 week high of $26.39. The company has a current ratio of 24.48, a quick ratio of 24.48 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $882.82 million, a PE ratio of 18.15 and a beta of 1.80.
In related news, insider Donald J. Tomnitz bought 4,500 shares of the stock in a transaction dated Thursday, May 17th. The shares were purchased at an average price of $22.31 per share, for a total transaction of $100,395.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders bought 10,000 shares of company stock worth $225,020 in the last 90 days. Company insiders own 0.13% of the company’s stock.
Forestar Group Company Profile
Forestar Group Inc operates as a real estate development company. The company engages in the acquisition, entitlement, development, and sale of real estate, primarily single-family residential and mixed-use communities. It also sells residential lots to home builders; and commercial properties. As of December 31, 2017, Forestar Group Inc had 49 entitled, developed, or under development projects in 11 states and 16 markets planned for residential and commercial uses in the United States.
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