Forrester Research, Inc. (NASDAQ:FORR) Short Interest Down 43.3% in August

Forrester Research, Inc. (NASDAQ:FORR) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 257,900 shares, a drop of 43.3% from the August 15th total of 455,200 shares. Based on an average daily volume of 109,600 shares, the days-to-cover ratio is presently 2.4 days. Currently, 2.3% of the company’s shares are short sold.

Insider Transactions at Forrester Research

In other news, insider Ryan Darrah sold 3,895 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 19,640 shares in the company, valued at approximately $358,626.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 39.20% of the company’s stock.

Institutional Investors Weigh In On Forrester Research

A number of large investors have recently added to or reduced their stakes in FORR. Quest Partners LLC acquired a new stake in Forrester Research during the 4th quarter valued at approximately $28,000. Wellington Management Group LLP acquired a new stake in shares of Forrester Research during the fourth quarter worth approximately $2,327,000. PNC Financial Services Group Inc. increased its stake in shares of Forrester Research by 52.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,553 shares of the technology company’s stock worth $42,000 after buying an additional 533 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in Forrester Research by 63.2% in the first quarter. BNP Paribas Financial Markets now owns 24,023 shares of the technology company’s stock valued at $518,000 after acquiring an additional 9,299 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its stake in Forrester Research by 44.4% during the 1st quarter. GSA Capital Partners LLP now owns 58,098 shares of the technology company’s stock valued at $1,253,000 after acquiring an additional 17,864 shares during the last quarter. 55.20% of the stock is owned by institutional investors and hedge funds.

Forrester Research Price Performance

FORR stock opened at $19.13 on Friday. The firm has a market cap of $364.62 million, a P/E ratio of 637.67, a price-to-earnings-growth ratio of 1.42 and a beta of 0.87. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.91 and a current ratio of 0.91. Forrester Research has a 1 year low of $16.14 and a 1 year high of $31.32. The stock has a 50-day simple moving average of $18.39 and a 200-day simple moving average of $18.68.

Forrester Research (NASDAQ:FORR) last released its quarterly earnings results on Tuesday, July 30th. The technology company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.09). The company had revenue of $121.83 million during 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, equities analysts predict that Forrester Research will post 0.95 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Forrester Research from a “hold” rating to a “buy” rating in a research report on Thursday.

About Forrester Research

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.