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

Forrester Research, Inc. (NASDAQ:FORR) saw a significant decline in short interest in the month of June. As of June 30th, there was short interest totalling 117,300 shares, a decline of 18.3% from the May 30th total of 143,500 shares. Based on an average trading volume of 39,500 shares, the days-to-cover ratio is currently 3.0 days. Approximately 1.2% of the shares of the company are short sold.

Several research analysts have recently weighed in on FORR shares. BidaskClub downgraded Amyris from a “hold” rating to a “sell” rating in a research note on Thursday, June 27th. Zacks Investment Research downgraded Great Portland Estates from a “hold” rating to a “sell” rating in a research note on Tuesday, April 16th. Barrington Research upped their target price on Lions Gate Entertainment to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 29th. Maxim Group reaffirmed a “buy” rating and set a $315.00 target price (up from $305.00) on shares of Domino’s Pizza in a research note on Wednesday, April 24th. Finally, TheStreet downgraded Viavi Solutions from a “b-” rating to a “c+” rating in a research note on Monday, June 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $56.00.

NASDAQ FORR traded up $0.31 during mid-day trading on Friday, hitting $47.88. The stock had a trading volume of 53,525 shares, compared to its average volume of 38,877. The stock’s 50 day moving average is $46.62. Forrester Research has a twelve month low of $36.19 and a twelve month high of $51.75. 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 capitalization of $877.05 million, a PE ratio of 57.00 and a beta of 0.65.

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

In other news, insider Kelley Hippler sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $46.03, for a total transaction of $138,090.00. Following the completion of the transaction, the insider now directly owns 23,253 shares of the company’s stock, valued at approximately $1,070,335.59. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Gretchen Teichgraeber sold 1,000 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $811,236.83. The disclosure for this sale can be found here. Insiders own 43.40% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bessemer Group Inc. raised its stake in Forrester Research by 48.7% in the 4th quarter. Bessemer Group Inc. now owns 22,600 shares of the technology company’s stock valued at $1,010,000 after purchasing an additional 7,400 shares during the last quarter. Norges Bank acquired a new position in Forrester Research in the 4th quarter valued at $13,565,000. BNP Paribas Arbitrage SA raised its stake in Forrester Research by 940.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,415 shares of the technology company’s stock valued at $117,000 after purchasing an additional 2,183 shares during the last quarter. Municipal Employees Retirement System of Michigan acquired a new position in Forrester Research in the 4th quarter valued at $131,000. Finally, BlackRock Inc. raised its stake 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 during the last quarter. 56.09% of the stock is owned by hedge funds and other institutional investors.

Forrester Research Company Profile

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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