60,798 Shares in Fortrea Holdings Inc. (NASDAQ:FTRE) Acquired by WINTON GROUP Ltd

WINTON GROUP Ltd acquired a new stake in Fortrea Holdings Inc. (NASDAQ:FTRE - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 60,798 shares of the company's stock, valued at approximately $1,134,000. WINTON GROUP Ltd owned 0.07% of Fortrea at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of FTRE. FMR LLC boosted its holdings in Fortrea by 91.6% in the 3rd quarter. FMR LLC now owns 4,821,404 shares of the company's stock valued at $96,428,000 after purchasing an additional 2,304,677 shares during the last quarter. Starboard Value LP raised its position in shares of Fortrea by 5.0% during the 3rd quarter. Starboard Value LP now owns 8,400,000 shares of the company's stock valued at $168,000,000 after buying an additional 400,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Fortrea by 192.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 472,918 shares of the company's stock valued at $9,458,000 after acquiring an additional 311,018 shares during the last quarter. Peregrine Capital Management LLC purchased a new position in Fortrea in the fourth quarter worth approximately $5,627,000. Finally, State Street Corp increased its stake in Fortrea by 7.7% during the third quarter. State Street Corp now owns 3,250,693 shares of the company's stock worth $65,014,000 after acquiring an additional 233,577 shares during the last quarter.

Insider Buying and Selling

In other Fortrea news, CEO Thomas Pike sold 11,268 shares of the business's stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $18.04, for a total transaction of $203,274.72. Following the transaction, the chief executive officer now owns 159,868 shares in the company, valued at approximately $2,884,018.72. The trade was a 6.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold a total of 13,029 shares of company stock valued at $226,168 over the last three months. 0.12% of the stock is currently owned by company insiders.

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Fortrea Stock Performance

NASDAQ FTRE traded up $0.24 during trading on Wednesday, reaching $7.29. The company's stock had a trading volume of 740,112 shares, compared to its average volume of 1,485,246. The business's fifty day moving average price is $12.96 and its 200-day moving average price is $17.25. Fortrea Holdings Inc. has a twelve month low of $6.91 and a twelve month high of $40.57. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a market cap of $657.11 million, a price-to-earnings ratio of -2.13, a P/E/G ratio of 1.78 and a beta of 1.34.

Fortrea (NASDAQ:FTRE - Get Free Report) last issued its quarterly earnings results 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 negative net margin of 10.99% and a positive return on equity of 2.00%. The company had revenue of $697.00 million during the quarter, compared to analyst estimates of $703.22 million. During the same quarter last year, the firm earned $0.19 EPS. As a group, analysts anticipate that Fortrea Holdings Inc. will post 0.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. William Blair reaffirmed a "market perform" rating on shares of Fortrea in a research note on Tuesday, March 4th. The Goldman Sachs Group decreased their target price on shares of Fortrea from $22.00 to $11.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Baird R W cut shares of Fortrea from a "strong-buy" rating to a "hold" rating in a research report on Friday, December 6th. Citigroup lowered shares of Fortrea from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $30.00 to $23.00 in a report on Wednesday, December 11th. Finally, Robert W. Baird set a $12.00 target price on shares of Fortrea in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating and eleven have issued a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $19.00.

Fortrea Company Profile

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.