Forrester Research (NASDAQ:FORR) Stock Rating Lowered by StockNews.com

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

Forrester Research Stock Performance

Shares of FORR stock opened at $17.20 on Tuesday. Forrester Research has a 12 month low of $14.38 and a 12 month high of $27.89. The stock has a market cap of $326.80 million, a PE ratio of -49.14, a price-to-earnings-growth ratio of 1.39 and a beta of 0.88. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.15. The company’s fifty day moving average price is $16.33 and its 200-day moving average price is $17.45.

Hedge Funds Weigh In On Forrester Research

A number of hedge funds have recently bought and sold shares of FORR. Ballentine Partners LLC bought a new position in Forrester Research in the 2nd quarter worth about $4,271,000. Acadian Asset Management LLC boosted its stake in Forrester Research by 511.8% in the 2nd quarter. Acadian Asset Management LLC now owns 230,848 shares of the technology company’s stock worth $3,940,000 after purchasing an additional 193,116 shares in the last quarter. Hotchkis & Wiley Capital Management LLC bought a new position in Forrester Research in the 3rd quarter worth about $3,119,000. Millennium Management LLC boosted its stake in Forrester Research by 134.7% in the 2nd quarter. Millennium Management LLC now owns 274,440 shares of the technology company’s stock worth $4,687,000 after purchasing an additional 157,510 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in Forrester Research in the 2nd quarter worth about $995,000. Institutional investors own 55.20% of the company’s stock.

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.