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Forestar Group Inc . (NYSE:FOR) recently saw its Chief Executive Officer, Anthony W. Oxley, make a significant purchase of the company’s common stock. According to a Form 4 filing with the Securities and Exchange Commission, Oxley acquired 4,300 shares on February 14, 2025. The timing is notable as the stock has declined over 26% in the past year, with InvestingPro analysis indicating the company is currently trading below its Fair Value. The transaction was executed at a weighted average price of $23.1406 per share, resulting in a total purchase value of approximately $99,504.
This acquisition was made indirectly through The Anthony and Mary Oxley Revocable Trust. Following this transaction, Oxley holds 3,210 shares directly and 4,300 shares indirectly, as per the filing details. This move indicates a continued commitment to the company’s future prospects by its top executive.
In other recent news, real estate firm Forestar Group Inc. has reported several notable developments. The company’s stockholders have voted to amend its charter to increase the threshold for board-level approval of certain investment decisions. Additionally, six director nominees were elected at the Annual Meeting, and Ernst & Young LLP was ratified as the company’s independent registered public accounting firm for the fiscal year ending September 30, 2025.
Meanwhile, Citi analysts have adjusted their stance on Forestar Group, reducing the price target to $32 from $39, but maintaining a Buy rating. This followed Forestar’s first-quarter performance, which did not meet expectations due to a decline in delivery volumes. Despite this, Citi analysts believe Forestar’s ability to meet its volume targets remains unaltered, although they anticipate margin pressures due to prolonged elevated interest rates.
Forestar Group also reported its first-quarter 2024 earnings, revealing a significant shortfall in both earnings per share (EPS) and revenue compared to analysts’ expectations. The company’s EPS came in at $0.32, falling short of the forecasted $0.70. Revenue was reported at $250.4 million, below the projected $325.4 million. Despite these setbacks, Forestar remains optimistic about its future, projecting revenue between $1.6 billion and $1.65 billion for fiscal 2025. The company expects to deliver between 16,000 and 16,500 lots.
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