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

Forrester Research, Inc. (NASDAQ:FORR) was the recipient of a significant increase in short interest during the month of April. As of April 30th, there was short interest totalling 447,400 shares, an increase of 36.3% from the April 15th total of 328,300 shares. Based on an average daily trading volume, of 182,700 shares, the days-to-cover ratio is currently 2.4 days. Currently, 3.9% of the shares of the company are short sold.

Insider Activity at Forrester Research

In other Forrester Research news, Director Robert Galford sold 13,000 shares of Forrester Research stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $20.73, for a total value of $269,490.00. Following the transaction, the director now directly owns 20,489 shares in the company, valued at approximately $424,736.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 39.20% of the stock is currently owned by insiders.

Institutional Trading of Forrester Research

Institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. boosted its stake in shares of 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 worth $42,000 after acquiring an additional 533 shares in the last quarter. Wedge Capital Management L L P NC grew its holdings in Forrester Research by 2.4% in the fourth quarter. Wedge Capital Management L L P NC now owns 25,456 shares of the technology company’s stock valued at $682,000 after purchasing an additional 593 shares during the last quarter. Swiss National Bank increased its position in shares of Forrester Research by 2.8% in the third quarter. Swiss National Bank now owns 25,350 shares of the technology company’s stock valued at $733,000 after buying an additional 700 shares in the last quarter. Quadrature Capital Ltd raised its stake in shares of Forrester Research by 5.2% during the 3rd quarter. Quadrature Capital Ltd now owns 15,043 shares of the technology company’s stock worth $435,000 after buying an additional 741 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Forrester Research by 20.8% in the 4th quarter. SG Americas Securities LLC now owns 4,380 shares of the technology company’s stock worth $117,000 after buying an additional 753 shares in the last quarter. Hedge funds and other institutional investors own 55.20% of the company’s stock.

Analyst Ratings Changes

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

Forrester Research Stock Down 0.7 %

Forrester Research stock opened at $19.04 on Monday. The stock’s 50 day moving average price is $19.70 and its 200 day moving average price is $22.79. The company has a market cap of $363.85 million, a PE ratio of 634.67, a price-to-earnings-growth ratio of 1.36 and a beta of 0.94. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.91 and a quick ratio of 0.90. Forrester Research has a 1-year low of $17.26 and a 1-year high of $32.79.

Forrester Research (NASDAQ:FORR) last issued its earnings results on Thursday, February 8th. The technology company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.02). The company had revenue of $118.09 million for the quarter, compared to analysts’ expectations of $116.43 million. Forrester Research had a return on equity of 9.30% and a net margin of 0.10%. On average, sell-side analysts predict that Forrester Research will post 1.04 EPS for the current fiscal year.

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.