Forrester Research, Inc. (NASDAQ:FORR) Sees Large Increase in Short Interest

by · The Markets Daily

Forrester Research, Inc. (NASDAQ:FORR – Get Free Report) saw a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 360,800 shares, a growth of 40.8% from the September 30th total of 256,200 shares. Currently, 3.2% of the shares of the company are sold short. Based on an average trading volume of 78,800 shares, the days-to-cover ratio is presently 4.6 days.

Insider Transactions at Forrester Research

In other news, insider Ryan Darrah sold 3,895 shares of Forrester Research stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $18.26, for a total value of $71,122.70. Following the completion of the transaction, the insider now owns 19,640 shares in the company, valued at $358,626.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 39.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Forrester Research

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Kent Lake Capital LLC purchased a new position in shares of Forrester Research in the 1st quarter worth about $11,473,000. Ballentine Partners LLC purchased a new position in shares of Forrester Research during the second quarter worth approximately $4,271,000. Acadian Asset Management LLC lifted its holdings in shares of Forrester Research by 511.8% in the 2nd quarter. Acadian Asset Management LLC now owns 230,848 shares of the technology company’s stock worth $3,940,000 after acquiring an additional 193,116 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Forrester Research by 134.7% in the 2nd quarter. Millennium Management LLC now owns 274,440 shares of the technology company’s stock valued at $4,687,000 after purchasing an additional 157,510 shares in the last quarter. Finally, Wellington Management Group LLP bought a new position in shares of Forrester Research during the 4th quarter valued at $2,327,000. Hedge funds and other institutional investors own 55.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Forrester Research from a “buy” rating to a “hold” rating in a research note on Tuesday, October 1st.

View Our Latest Analysis on Forrester Research

Forrester Research Price Performance

NASDAQ:FORR traded up $0.14 during trading hours on Tuesday, hitting $15.00. 95,914 shares of the company’s stock traded hands, compared to its average volume of 118,731. Forrester Research has a 52 week low of $14.39 and a 52 week high of $27.89. The business’s fifty day simple moving average is $17.36 and its two-hundred day simple moving average is $17.83. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.15. The firm has a market cap of $286.61 million, a P/E ratio of 500.00, a P/E/G ratio of 1.22 and a beta of 0.87.

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

About Forrester Research

(Get Free Report)

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.

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