Forrester Research, Inc. (NASDAQ:FORR) Short Interest Down 18.3% in June

Forrester Research, Inc. (NASDAQ:FORR) was the recipient of a large decrease in short interest in June. As of June 30th, there was short interest totalling 117,300 shares, a decrease of 18.3% from the May 30th total of 143,500 shares. Currently, 1.2% of the company’s shares are short sold. Based on an average trading volume of 39,500 shares, the short-interest ratio is currently 3.0 days.

FORR stock traded up $0.31 during mid-day trading on Friday, reaching $47.88. The company had a trading volume of 53,525 shares, compared to its average volume of 38,877. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.66 and a quick ratio of 0.66. The company has a market cap of $877.05 million, a P/E ratio of 57.00 and a beta of 0.65. The company has a fifty day moving average of $46.62. Forrester Research has a fifty-two week low of $36.19 and a fifty-two week high of $51.75.

Forrester Research (NASDAQ:FORR) last posted its quarterly earnings results on Tuesday, April 30th. The technology company reported ($0.73) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.03. The company had revenue of $100.65 million for the quarter, compared to analyst estimates of $98.00 million. Forrester Research had a return on equity of 2.61% and a net margin of 1.00%. Sell-side analysts predict that Forrester Research will post -0.52 EPS for the current year.

FORR has been the topic of a number of analyst reports. Maxim Group reaffirmed a “buy” rating and issued a $315.00 price target (up previously from $305.00) on shares of Domino’s Pizza in a research report on Wednesday, April 24th. TheStreet lowered Viavi Solutions from a “b-” rating to a “c+” rating in a research report on Monday, June 3rd. BidaskClub lowered Amyris from a “hold” rating to a “sell” rating in a research report on Thursday, June 27th. Zacks Investment Research lowered Great Portland Estates from a “hold” rating to a “sell” rating in a research report on Tuesday, April 16th. Finally, Barrington Research increased their price target on Lions Gate Entertainment to $18.00 and gave the company an “outperform” rating in a research report on Wednesday, May 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $56.00.

In related news, insider Kelley Hippler sold 3,000 shares of the stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $46.03, for a total transaction of $138,090.00. Following the transaction, the insider now owns 23,253 shares of the company’s stock, valued at approximately $1,070,335.59. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Gretchen Teichgraeber sold 1,000 shares of the stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $45.83, for a total value of $45,830.00. Following the transaction, the director now directly owns 17,701 shares in the company, valued at approximately $811,236.83. The disclosure for this sale can be found here. 43.40% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its position in Forrester Research by 0.9% in the 4th quarter. BlackRock Inc. now owns 1,499,011 shares of the technology company’s stock valued at $67,005,000 after purchasing an additional 13,286 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Forrester Research by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 777,645 shares of the technology company’s stock worth $34,761,000 after acquiring an additional 2,723 shares in the last quarter. Norges Bank acquired a new stake in shares of Forrester Research during the 4th quarter worth about $13,565,000. United Services Automobile Association raised its position in shares of Forrester Research by 0.3% during the 4th quarter. United Services Automobile Association now owns 302,669 shares of the technology company’s stock worth $13,529,000 after acquiring an additional 820 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Forrester Research by 6.3% during the 4th quarter. Geode Capital Management LLC now owns 137,374 shares of the technology company’s stock worth $6,140,000 after acquiring an additional 8,188 shares in the last quarter. 56.09% of the stock is currently owned by institutional investors.

About Forrester Research

Forrester Research, Inc operates as an independent research, data, and advisory services company. It operates through Research, Product, and Project Consulting segments. Its primary syndicated research product is Research, which offers clients with access to its syndicated research designed to inform their strategic decision-making.

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