Invenomic Capital Management LP Has $2.98 Million Position in Forrester Research, Inc. $FORR

Key Points

• Invenomic Capital Management LP increased its stake in Forrester Research, Inc. by 99.4% during the first quarter, now holding 322,163 shares worth approximately $2.98 million.
• Institutional investors now own 55.20% of Forrester Research stock, with Federated Hermes Inc. raising its holdings by 150.1% during the same period.
• Forrester Research has received upgraded ratings from analysts, with Wall Street Zen changing it from a "hold" to a "buy" rating, contributing to its current consensus rating of "hold."

Invenomic Capital Management LP lifted its stake in Forrester Research, Inc. (NASDAQ:FORR - Free Report) by 99.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 322,163 shares of the technology company's stock after buying an additional 160,569 shares during the period. Invenomic Capital Management LP owned approximately 1.70% of Forrester Research worth $2,977,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of FORR. Wells Fargo & Company MN grew its position in shares of Forrester Research by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 6,880 shares of the technology company's stock valued at $108,000 after buying an additional 1,497 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Forrester Research by 50.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,455 shares of the technology company's stock valued at $54,000 after acquiring an additional 1,153 shares in the last quarter. Hsbc Holdings PLC increased its holdings in Forrester Research by 6.5% during the 4th quarter. Hsbc Holdings PLC now owns 13,080 shares of the technology company's stock valued at $205,000 after acquiring an additional 802 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Forrester Research by 8.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 35,518 shares of the technology company's stock worth $557,000 after buying an additional 2,862 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Forrester Research by 2.6% during the fourth quarter. Northern Trust Corp now owns 115,332 shares of the technology company's stock worth $1,807,000 after buying an additional 2,883 shares in the last quarter. 55.20% of the stock is owned by hedge funds and other institutional investors.

Forrester Research Stock Performance

FORR stock traded up $0.07 during trading on Thursday, hitting $9.93. 29,619 shares of the company's stock traded hands, compared to its average volume of 77,067. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.22. Forrester Research, Inc. has a 52 week low of $8.50 and a 52 week high of $19.74. The stock has a fifty day moving average price of $10.03 and a two-hundred day moving average price of $10.02. The stock has a market capitalization of $189.27 million, a price-to-earnings ratio of -2.10, a price-to-earnings-growth ratio of 0.90 and a beta of 0.95.

Analysts Set New Price Targets

Several analysts recently issued reports on FORR shares. Zacks Research raised shares of Forrester Research from a "strong sell" rating to a "hold" rating in a report on Wednesday, September 3rd. Wall Street Zen raised shares of Forrester Research from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Hold".

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.