Forrester Research, Inc. (NASDAQ:FORR) Short Interest Update

Forrester Research, Inc. (NASDAQ:FORR) was the recipient of a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 241,100 shares, a decline of 6.5% from the August 31st total of 257,900 shares. Approximately 2.1% of the company’s shares are sold short. Based on an average daily trading volume, of 99,300 shares, the days-to-cover ratio is presently 2.4 days.

Analyst Ratings Changes

Separately, StockNews.com downgraded Forrester Research from a “buy” rating to a “hold” rating in a report on Tuesday.

Forrester Research Trading Down 6.0 %

NASDAQ FORR opened at $16.93 on Wednesday. The firm’s fifty day moving average price is $18.46 and its 200 day moving average price is $18.50. Forrester Research has a 12 month low of $16.14 and a 12 month high of $29.93. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market capitalization of $323.48 million, a price-to-earnings ratio of 564.33, a price-to-earnings-growth ratio of 1.39 and a beta of 0.87.

Forrester Research (NASDAQ:FORR) last issued its quarterly earnings data on Tuesday, July 30th. The technology company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.09). Forrester Research had a return on equity of 6.52% and a net margin of 0.32%. The firm had revenue of $121.83 million for the quarter, compared to analysts’ expectations of $121.21 million. On average, sell-side analysts expect that Forrester Research will post 0.95 earnings per share for the current fiscal year.

Insider Activity at Forrester Research

In related news, insider Ryan Darrah sold 3,895 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $18.26, for a total transaction of $71,122.70. Following the sale, the insider now directly owns 19,640 shares of the company’s stock, valued at approximately $358,626.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 39.20% of the company’s stock.

Institutional Investors Weigh In On Forrester Research

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FORR. Wellington Management Group LLP purchased a new stake in shares of Forrester Research in the fourth quarter valued at about $2,327,000. PNC Financial Services Group Inc. raised its stake in Forrester Research by 52.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,553 shares of the technology company’s stock valued at $42,000 after acquiring an additional 533 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Forrester Research by 63.2% during the 1st quarter. BNP Paribas Financial Markets now owns 24,023 shares of the technology company’s stock worth $518,000 after acquiring an additional 9,299 shares during the period. GSA Capital Partners LLP grew its stake in shares of Forrester Research by 44.4% in the 1st quarter. GSA Capital Partners LLP now owns 58,098 shares of the technology company’s stock valued at $1,253,000 after purchasing an additional 17,864 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Forrester Research in the first quarter valued at approximately $223,000. Hedge funds and other institutional investors own 55.20% of the company’s stock.

Forrester Research Company Profile

Forrester Research, Inc operates as an independent research and advisory company in the United States and internationally. The company operates in three segments: Research, Consulting, and Events. The Research segment primary subscription research services include Forrester Decisions, Forrester Research, and SiriusDecisions Research, which are designed to provide business and technology leaders with a proven path to growth through customer obsession.