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

Forrester Research (NASDAQ:FORR) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

Forrester Research Price Performance

NASDAQ FORR traded down $1.08 during trading on Tuesday, hitting $16.93. 69,273 shares of the stock traded hands, compared to its average volume of 123,805. The company has a market capitalization of $323.48 million, a P/E ratio of 564.33, a price-to-earnings-growth ratio of 1.39 and a beta of 0.87. Forrester Research has a 12-month low of $16.14 and a 12-month high of $29.93. The firm has a 50-day simple moving average of $18.46 and a 200-day simple moving average of $18.50. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.15.

Forrester Research (NASDAQ:FORR) last released its quarterly earnings results on Tuesday, July 30th. The technology company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.09). Forrester Research had a net margin of 0.32% and a return on equity of 6.52%. The business had revenue of $121.83 million for the quarter, compared to analysts’ expectations of $121.21 million. As a group, analysts predict that Forrester Research will post 0.95 EPS for the current year.

Insider Transactions at Forrester Research

In related news, insider Ryan Darrah sold 3,895 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $18.26, for a total value of $71,122.70. Following the completion of the sale, the insider now directly owns 19,640 shares in the company, valued at $358,626.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 39.20% of the company’s stock.

Institutional Trading of Forrester Research

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 DIFC Ltd increased its stake in Forrester Research by 62.4% in the second quarter. Point72 DIFC Ltd now owns 1,713 shares of the technology company’s stock worth $29,000 after purchasing an additional 658 shares during the period. Millennium Management LLC raised its stake in 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 buying an additional 157,510 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Forrester Research by 87.7% during the 2nd quarter. AQR Capital Management LLC now owns 63,841 shares of the technology company’s stock worth $1,090,000 after purchasing an additional 29,824 shares during the last quarter. AXA S.A. purchased a new stake in Forrester Research during the second quarter valued at approximately $803,000. Finally, Squarepoint Ops LLC purchased a new position in Forrester Research in the second quarter worth $483,000. 55.20% of the stock is owned by hedge funds and other institutional investors.

Forrester Research Company Profile

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.