Trexquant Investment LP bought a new stake in shares of Fortrea Holdings Inc. (NASDAQ:FTRE - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 247,763 shares of the company's stock, valued at approximately $4,621,000. Trexquant Investment LP owned about 0.28% of Fortrea as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently modified their holdings of the company. Alliancebernstein L.P. raised its position in shares of Fortrea by 107.3% during the 4th quarter. Alliancebernstein L.P. now owns 111,845 shares of the company's stock valued at $2,086,000 after purchasing an additional 57,879 shares during the period. Summit Securities Group LLC bought a new position in shares of Fortrea during the fourth quarter worth $205,000. Norges Bank bought a new stake in Fortrea in the 4th quarter valued at $330,000. Easterly Investment Partners LLC purchased a new stake in Fortrea in the 4th quarter worth $1,902,000. Finally, WINTON GROUP Ltd bought a new position in shares of Fortrea during the 4th quarter valued at about $1,134,000.
Fortrea Stock Performance
Shares of FTRE traded down $1.26 during trading hours on Thursday, reaching $5.19. 864,160 shares of the company traded hands, compared to its average volume of 1,568,022. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.74. The business has a fifty day moving average price of $11.19 and a 200-day moving average price of $16.42. Fortrea Holdings Inc. has a 12-month low of $5.16 and a 12-month high of $39.62. The stock has a market capitalization of $468.05 million, a P/E ratio of -1.52, a P/E/G ratio of 1.78 and a beta of 2.10.
Fortrea (NASDAQ:FTRE - Get Free Report) last announced its quarterly earnings data on Monday, March 3rd. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.18). Fortrea had a positive return on equity of 2.00% and a negative net margin of 10.99%. The firm had revenue of $697.00 million during the quarter, compared to analysts' expectations of $703.22 million. During the same quarter in the previous year, the business earned $0.19 earnings per share. Equities analysts anticipate that Fortrea Holdings Inc. will post 0.51 EPS for the current fiscal year.
Wall Street Analyst Weigh In
FTRE has been the topic of a number of recent research reports. William Blair reaffirmed a "market perform" rating on shares of Fortrea in a research note on Tuesday, March 4th. Evercore ISI dropped their price target on Fortrea from $20.00 to $15.00 and set an "in-line" rating for the company in a research report on Tuesday, March 4th. Mizuho lowered their price objective on Fortrea from $12.00 to $10.00 and set a "neutral" rating for the company in a research note on Wednesday. Robert W. Baird set a $12.00 target price on Fortrea in a research report on Tuesday, March 4th. Finally, Barclays reiterated an "underweight" rating and set a $6.00 price target (down from $12.00) on shares of Fortrea in a report on Thursday. Two investment analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $16.70.
View Our Latest Analysis on FTRE
Insider Buying and Selling at Fortrea
In related news, CEO Thomas Pike sold 11,268 shares of the firm's stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $18.04, for a total transaction of $203,274.72. Following the sale, the chief executive officer now directly owns 159,868 shares of the company's stock, valued at $2,884,018.72. This trade represents a 6.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 13,029 shares of company stock valued at $226,168. 0.12% of the stock is owned by insiders.
About Fortrea
(
Free Report)
Fortrea Holdings Inc, a contract research organization, primarily engages in the provision of biopharmaceutical product and medical device development services worldwide. The company operates through two segments: Clinical Services and Enabling Services. The Clinical Services segment provides across the clinical pharmacology and clinical development spectrum.
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