American International Group Inc. trimmed its position in shares of Forestar Group Inc (NYSE:FOR) by 78.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,079 shares of the oil and gas exploration company’s stock after selling 26,197 shares during the quarter. American International Group Inc.’s holdings in Forestar Group were worth $156,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in FOR. Old Mutual Global Investors UK Ltd. acquired a new stake in shares of Forestar Group during the 4th quarter valued at about $111,000. Municipal Employees Retirement System of Michigan raised its stake in shares of Forestar Group by 102.8% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 15,780 shares of the oil and gas exploration company’s stock valued at $256,000 after acquiring an additional 8,000 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Forestar Group in the 3rd quarter valued at approximately $341,000. Jane Street Group LLC bought a new position in shares of Forestar Group in the 3rd quarter valued at approximately $432,000. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Forestar Group by 20.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,986 shares of the oil and gas exploration company’s stock valued at $565,000 after acquiring an additional 5,696 shares in the last quarter. Institutional investors and hedge funds own 23.26% of the company’s stock.
FOR stock opened at $22.10 on Wednesday. The company has a quick ratio of 17.88, a current ratio of 17.88 and a debt-to-equity ratio of 0.18. Forestar Group Inc has a one year low of $12.75 and a one year high of $26.39. The firm has a market capitalization of $943.63, a P/E ratio of 12.35 and a beta of 1.84.
In related news, insider Donald J. Tomnitz acquired 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 6th. The shares were acquired at an average cost of $24.17 per share, with a total value of $96,680.00. Following the purchase, the insider now owns 2,000 shares of the company’s stock, valued at $48,340. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.10% of the stock is currently owned by company insiders.
Separately, ValuEngine downgraded Forestar Group from a “buy” rating to a “hold” rating in a research note on Friday, December 1st.
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Forestar Group Profile
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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