Insider Selling: Forrester Research Inc. (FORR) Director Sells 13,278 Shares of Stock
Forrester Research Inc. (NASDAQ:FORR) Director Michael Welles sold 13,278 shares of the stock in a transaction that occurred on Monday, November 28th. The shares were sold at an average price of $41.03, for a total transaction of $544,796.34. Following the completion of the sale, the director now directly owns 24,112 shares in the company, valued at $989,315.36. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
Shares of Forrester Research Inc. (NASDAQ:FORR) traded down 0.49% on Monday, hitting $40.80. 37,498 shares of the stock traded hands. The firm’s 50-day moving average is $38.32 and its 200 day moving average is $38.51. The firm has a market cap of $743.29 million, a P/E ratio of 53.68 and a beta of 0.50. Forrester Research Inc. has a 12-month low of $27.05 and a 12-month high of $42.01.
Forrester Research (NASDAQ:FORR) last announced its quarterly earnings results on Wednesday, October 26th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.03. The firm had revenue of $77.40 million for the quarter, compared to analysts’ expectations of $79.99 million. Forrester Research had a net margin of 4.20% and a return on equity of 11.35%. Forrester Research’s revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.30 earnings per share. Equities research analysts forecast that Forrester Research Inc. will post $1.22 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 21st. Shareholders of record on Wednesday, December 7th will be given a dividend of $0.18 per share. The ex-dividend date is Monday, December 5th. This represents a $0.72 dividend on an annualized basis and a yield of 1.75%. Forrester Research’s dividend payout ratio (DPR) is 96.00%.
FORR has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Forrester Research from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a report on Monday, August 1st. Sidoti upgraded shares of Forrester Research from a “neutral” rating to a “buy” rating in a report on Monday, October 31st.
A number of hedge funds and other institutional investors have recently made changes to their positions in FORR. BNP Paribas Arbitrage SA boosted its position in shares of Forrester Research by 114.4% in the second quarter. BNP Paribas Arbitrage SA now owns 3,088 shares of the company’s stock worth $114,000 after buying an additional 1,648 shares during the period. Victory Capital Management Inc. acquired a new position in shares of Forrester Research during the third quarter worth $121,000. Wells Fargo & Company MN boosted its position in shares of Forrester Research by 20.8% in the third quarter. Wells Fargo & Company MN now owns 3,479 shares of the company’s stock worth $135,000 after buying an additional 600 shares during the period. JPMorgan Chase & Co. acquired a new position in shares of Forrester Research during the second quarter worth $148,000. Finally, SG Americas Securities LLC acquired a new position in shares of Forrester Research during the third quarter worth $161,000. 53.48% of the stock is currently owned by hedge funds and other institutional investors.
About Forrester Research
Forrester Research, Inc (Forrester) is a global independent research, data, and advisory services firm. The Company offers research, data, advisory and related services that are thematic, prescriptive, and executable, and that provide a perspective on the changing business environment. Its segments include Research, Product and Project Consulting.
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