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

Forrester Research, Inc. (NASDAQ:FORR) was the recipient of a significant decline in short interest in the month of 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. Currently, 3.8% of the company’s shares are sold short. Based on an average daily volume of 150,300 shares, the days-to-cover ratio is currently 2.9 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Forrester Research from a “buy” rating to a “hold” rating in a research note on Monday, March 18th.

Forrester Research Stock Down 2.2 %

Shares of FORR opened at $20.37 on Wednesday. The firm has a market capitalization of $394.97 million, a P/E ratio of 119.82, a P/E/G ratio of 1.48 and a beta of 0.91. Forrester Research has a 12-month low of $18.64 and a 12-month high of $34.00. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.15. The firm has a fifty day moving average price of $21.68 and a 200-day moving average price of $24.74.

Forrester Research (NASDAQ:FORR) last released its quarterly earnings data on Thursday, February 8th. The technology company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $116.43 million. Equities research analysts expect that Forrester Research will post 1.04 earnings per share for the current year.

Insider Activity

In other news, Director Robert Galford sold 13,000 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $20.73, for a total transaction of $269,490.00. Following the completion of the sale, the director now directly owns 20,489 shares of the company’s stock, valued at $424,736.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 39.50% of the company’s stock.

Institutional Trading of Forrester Research

Hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. increased its holdings in shares of Forrester Research by 52.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,553 shares of the technology company’s stock valued at $42,000 after acquiring an additional 533 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of Forrester Research during the fourth quarter valued at about $2,327,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Forrester Research by 45.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 22,271 shares of the technology company’s stock valued at $598,000 after acquiring an additional 7,000 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Forrester Research during the fourth quarter valued at about $1,079,000. Finally, Barclays PLC increased its holdings in Forrester Research by 79.8% in the 4th quarter. Barclays PLC now owns 29,107 shares of the technology company’s stock worth $780,000 after buying an additional 12,916 shares during the period. 55.20% of the stock is owned by hedge funds and other institutional investors.

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.