Cohen Capital Management Inc. lowered its position in Fortrea Holdings Inc. (NASDAQ:FTRE - Free Report) by 18.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 119,122 shares of the company's stock after selling 27,584 shares during the quarter. Cohen Capital Management Inc. owned approximately 0.13% of Fortrea worth $2,222,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Hara Capital LLC bought a new position in shares of Fortrea during the third quarter valued at approximately $29,000. Covestor Ltd boosted its holdings in shares of Fortrea by 102.4% in the 3rd quarter. Covestor Ltd now owns 2,763 shares of the company's stock valued at $55,000 after buying an additional 1,398 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Fortrea by 21.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,241 shares of the company's stock worth $64,000 after buying an additional 572 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Fortrea by 26.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,087 shares of the company's stock worth $182,000 after acquiring an additional 1,917 shares in the last quarter. Finally, Whalen Wealth Management Inc. purchased a new stake in Fortrea during the fourth quarter valued at approximately $204,000.
Insider Buying and Selling
In other Fortrea news, CEO Thomas Pike sold 11,268 shares of the business's stock in a transaction on Monday, January 13th. The shares were sold at an average price of $18.04, for a total value of $203,274.72. Following the completion of the transaction, the chief executive officer now owns 159,868 shares in the company, valued at $2,884,018.72. The trade was a 6.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 12,386 shares of company stock valued at $219,751. Corporate insiders own 0.12% of the company's stock.
Wall Street Analysts Forecast Growth
FTRE has been the topic of a number of recent analyst reports. Barclays upped their price target on Fortrea from $20.00 to $25.00 and gave the stock an "equal weight" rating in a research report on Monday, November 11th. TD Cowen increased their price target on Fortrea from $23.00 to $25.00 and gave the company a "hold" rating in a research note on Monday, November 11th. William Blair reiterated a "market perform" rating on shares of Fortrea in a research note on Friday, November 8th. Citigroup downgraded shares of Fortrea from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $30.00 to $23.00 in a report on Wednesday, December 11th. Finally, Baird R W lowered shares of Fortrea from a "strong-buy" rating to a "hold" rating in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating and eleven have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $23.30.
Read Our Latest Stock Report on Fortrea
Fortrea Trading Up 2.5 %
Fortrea stock traded up $0.37 during trading on Wednesday, hitting $15.08. The company had a trading volume of 811,826 shares, compared to its average volume of 1,071,229. Fortrea Holdings Inc. has a 1-year low of $14.27 and a 1-year high of $41.02. The company's 50 day simple moving average is $17.24 and its 200-day simple moving average is $19.33. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of -4.41, a price-to-earnings-growth ratio of 1.78 and a beta of 1.21. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.74.
Fortrea Profile
(
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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