Forrester Research, Inc. (NASDAQ:FORR) Short Interest Down 5.2% in March

Forrester Research, Inc. (NASDAQ:FORR) saw a significant decline in short interest in March. As of March 15th, there was short interest totalling 438,900 shares, a decline of 5.2% from the February 29th total of 463,200 shares. Based on an average daily volume of 150,300 shares, the days-to-cover ratio is presently 2.9 days. Approximately 3.8% of the shares of the stock are short sold.

Insiders Place Their Bets

In other news, Director Robert Galford sold 13,000 shares of the company’s stock in a transaction 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 sale, the director now directly owns 20,489 shares in the company, valued at $424,736.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 39.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Forrester Research

Large investors have recently added to or reduced their stakes in the business. Auxier Asset Management increased its stake in Forrester Research by 36.7% during the second quarter. Auxier Asset Management now owns 34,916 shares of the technology company’s stock worth $1,016,000 after acquiring an additional 9,366 shares during the last quarter. Swiss National Bank increased its stake in Forrester Research by 2.8% during the third quarter. Swiss National Bank now owns 25,350 shares of the technology company’s stock worth $733,000 after acquiring an additional 700 shares during the last quarter. M&T Bank Corp increased its stake in Forrester Research by 20.2% during the third quarter. M&T Bank Corp now owns 57,573 shares of the technology company’s stock worth $1,664,000 after acquiring an additional 9,656 shares during the last quarter. Barclays PLC increased its stake in Forrester Research by 22.2% during the third quarter. Barclays PLC now owns 16,191 shares of the technology company’s stock worth $468,000 after acquiring an additional 2,942 shares during the last quarter. Finally, Total Clarity Wealth Management Inc. acquired a new stake in Forrester Research during the third quarter worth about $206,000. 55.20% of the stock is currently owned by hedge funds and other institutional investors.

Forrester Research Stock Performance

NASDAQ FORR opened at $20.37 on Wednesday. The business’s 50-day moving average price is $21.68 and its 200 day moving average price is $24.74. Forrester Research has a twelve month low of $18.64 and a twelve month high of $34.00. The company has a market capitalization of $394.97 million, a PE ratio of 119.82, a price-to-earnings-growth ratio of 1.48 and a beta of 0.91. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.15.

Forrester Research (NASDAQ:FORR) last released its earnings results on Thursday, February 8th. The technology company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.02). Forrester Research had a return on equity of 10.77% and a net margin of 0.63%. The business had revenue of $118.09 million for the quarter, compared to analysts’ expectations of $116.43 million. On average, research analysts predict that Forrester Research will post 1.04 earnings per share for the current year.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Forrester Research from a “buy” rating to a “hold” rating in a research report on Monday, March 18th.

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.