Forrester Research, Inc. (NASDAQ:FORR) Sees Large Growth in Short Interest

Forrester Research, Inc. (NASDAQ:FORR) was the target of a significant growth in short interest during the month of July. As of July 31st, there was short interest totalling 650,400 shares, a growth of 15.8% from the July 15th total of 561,800 shares. Approximately 5.7% of the company’s shares are sold short. Based on an average daily volume of 123,300 shares, the short-interest ratio is currently 5.3 days.

Forrester Research Stock Down 0.1 %

NASDAQ:FORR traded down $0.02 on Friday, reaching $18.77. 129,441 shares of the stock traded hands, compared to its average volume of 134,317. The company’s fifty day simple moving average is $17.74 and its 200 day simple moving average is $19.14. The company has a market capitalization of $358.64 million, a price-to-earnings ratio of 625.67, a PEG ratio of 1.40 and a beta of 0.91. Forrester Research has a 12 month low of $16.14 and a 12 month high of $31.67. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.15.

Insiders Place Their Bets

In related news, insider Ryan Darrah sold 3,895 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $18.26, for a total transaction of $71,122.70. Following the transaction, the insider now directly owns 19,640 shares in the company, valued at approximately $358,626.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 39.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Kent Lake Capital LLC purchased a new stake in shares of Forrester Research during the 1st quarter valued at about $11,473,000. Millennium Management LLC increased its holdings in Forrester Research by 134.7% during the second quarter. Millennium Management LLC now owns 274,440 shares of the technology company’s stock valued at $4,687,000 after buying an additional 157,510 shares during the last quarter. Ballentine Partners LLC bought a new position in Forrester Research in the second quarter worth approximately $4,271,000. Acadian Asset Management LLC boosted its stake in shares of Forrester Research by 511.8% during the 2nd quarter. Acadian Asset Management LLC now owns 230,848 shares of the technology company’s stock worth $3,940,000 after acquiring an additional 193,116 shares during the last quarter. Finally, Wellington Management Group LLP bought a new stake in shares of Forrester Research during the 4th quarter valued at $2,327,000. 55.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Forrester Research from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th.

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.