Short Interest in Forrester Research, Inc. (NASDAQ:FORR) Declines By 6.5%

Forrester Research, Inc. (NASDAQ:FORR) was the target of a significant decline in short interest in 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. Based on an average trading volume of 99,300 shares, the short-interest ratio is presently 2.4 days. Currently, 2.1% of the shares of the company are sold short.

Forrester Research Price Performance

FORR stock opened at $16.93 on Wednesday. The firm has a 50 day moving average of $18.46 and a 200-day moving average of $18.50. The company has a market cap of $323.48 million, a price-to-earnings ratio of 564.33, a PEG ratio of 1.39 and a beta of 0.87. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.15. Forrester Research has a 12-month low of $16.14 and a 12-month high of $29.93.

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). The firm had revenue of $121.83 million for the quarter, compared to analyst estimates of $121.21 million. Forrester Research had a return on equity of 6.52% and a net margin of 0.32%. As a group, equities analysts expect that Forrester Research will post 0.95 EPS for the current fiscal year.

Insider Activity

In other news, insider Ryan Darrah sold 3,895 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $18.26, for a total transaction of $71,122.70. Following the completion of the transaction, 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 document filed with the SEC, which is accessible through this link. Insiders own 39.20% of the company’s stock.

Institutional Investors Weigh In On Forrester Research

Several institutional investors and hedge funds have recently made changes to their positions in the business. Kent Lake Capital LLC purchased a new position in Forrester Research during the 1st quarter valued at about $11,473,000. Millennium Management LLC increased its stake in shares of Forrester Research by 134.7% during the 2nd quarter. Millennium Management LLC now owns 274,440 shares of the technology company’s stock worth $4,687,000 after purchasing an additional 157,510 shares in the last quarter. Ballentine Partners LLC acquired a new position in shares of Forrester Research during the 2nd quarter worth approximately $4,271,000. Acadian Asset Management LLC lifted its stake in Forrester Research by 511.8% in the 2nd quarter. Acadian Asset Management LLC now owns 230,848 shares of the technology company’s stock valued at $3,940,000 after buying an additional 193,116 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new stake in Forrester Research during the 4th quarter valued at $2,327,000. 55.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Forrester Research from a “buy” rating to a “hold” rating in a research note on Tuesday.

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.