Forrester Research (NASDAQ:FORR) Downgraded to Hold at StockNews.com

by · The Cerbat Gem

StockNews.com downgraded shares of Forrester Research (NASDAQ:FORR – Free Report) from a buy rating to a hold rating in a report published on Tuesday morning.

Forrester Research Stock Performance

Shares of NASDAQ FORR opened at $15.91 on Tuesday. Forrester Research has a 12-month low of $15.88 and a 12-month high of $29.93. The firm has a 50 day moving average of $18.26 and a 200 day moving average of $18.41. The firm has a market capitalization of $303.99 million, a price-to-earnings ratio of 530.33, a price-to-earnings-growth ratio of 1.39 and a beta of 0.87. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.15.

Forrester Research (NASDAQ:FORR – Get Free Report) last announced its earnings results on Tuesday, July 30th. The technology company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.09). Forrester Research had a return on equity of 6.52% and a net margin of 0.32%. The company had revenue of $121.83 million during the quarter, compared to analysts’ expectations of $121.21 million. On average, research analysts anticipate that Forrester Research will post 0.95 earnings per share for the current year.

Insider Buying and Selling

In other Forrester Research news, insider Ryan Darrah sold 3,895 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $18.26, for a total value of $71,122.70. Following the completion of the transaction, the insider now owns 19,640 shares in the company, valued at approximately $358,626.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 39.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Kent Lake Capital LLC purchased a new stake in Forrester Research in the first quarter valued at approximately $11,473,000. Millennium Management LLC grew its stake in shares of Forrester Research by 134.7% in the second quarter. Millennium Management LLC now owns 274,440 shares of the technology company’s stock worth $4,687,000 after acquiring an additional 157,510 shares in the last quarter. Ballentine Partners LLC purchased a new stake in shares of Forrester Research during the second quarter worth $4,271,000. Acadian Asset Management LLC raised its stake in shares of Forrester Research by 511.8% in the second quarter. Acadian Asset Management LLC now owns 230,848 shares of the technology company’s stock valued at $3,940,000 after acquiring an additional 193,116 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new position in Forrester Research during the 4th quarter worth $2,327,000. Hedge funds and other institutional investors own 55.20% of the company’s stock.

About Forrester Research

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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.

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