Vanguard Personalized Indexing Management LLC Grows Holdings in Fortrea Holdings Inc. $FTRE

Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Fortrea Holdings Inc. (NASDAQ:FTRE) by 145.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 25,632 shares of the company’s stock after buying an additional 15,208 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Fortrea were worth $127,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Brooklyn Investment Group increased its position in Fortrea by 9,577.5% during the 1st quarter. Brooklyn Investment Group now owns 3,871 shares of the company’s stock worth $29,000 after purchasing an additional 3,831 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in Fortrea during the first quarter worth $39,000. waypoint wealth counsel acquired a new position in Fortrea during the second quarter worth $53,000. Quarry LP raised its position in Fortrea by 73.4% in the first quarter. Quarry LP now owns 7,567 shares of the company’s stock worth $57,000 after acquiring an additional 3,202 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC acquired a new stake in Fortrea in the second quarter valued at $57,000.

Insider Activity at Fortrea

In other news, CFO Jill G. Mcconnell sold 3,156 shares of the stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $10.23, for a total transaction of $32,285.88. Following the transaction, the chief financial officer owned 58,770 shares of the company’s stock, valued at approximately $601,217.10. This trade represents a 5.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Peter M. Neupert purchased 32,500 shares of the stock in a transaction dated Monday, August 11th. The stock was purchased at an average price of $6.26 per share, with a total value of $203,450.00. Following the completion of the acquisition, the director directly owned 98,132 shares in the company, valued at approximately $614,306.32. The trade was a 49.52% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders bought 72,354 shares of company stock valued at $507,168 and sold 10,311 shares valued at $94,635. Company insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on FTRE. Robert W. Baird raised their price objective on Fortrea from $9.00 to $14.00 and gave the company an “outperform” rating in a research note on Wednesday, September 3rd. Evercore ISI raised their price target on Fortrea from $7.00 to $11.00 and gave the company an “in-line” rating in a research report on Wednesday, October 8th. Wall Street Zen raised Fortrea from a “hold” rating to a “buy” rating in a research note on Sunday, October 19th. Citigroup reissued a “neutral” rating on shares of Fortrea in a research note on Tuesday, October 7th. Finally, Jefferies Financial Group raised their target price on shares of Fortrea from $7.00 to $9.50 and gave the company a “hold” rating in a report on Tuesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $12.39.

Fortrea Trading Up 4.6%

Shares of FTRE stock opened at $11.30 on Monday. The firm’s 50-day simple moving average is $9.66 and its 200-day simple moving average is $6.94. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.02 and a quick ratio of 1.02. Fortrea Holdings Inc. has a 1-year low of $3.97 and a 1-year high of $25.28. The firm has a market cap of $1.03 billion, a P/E ratio of -0.99, a PEG ratio of 0.49 and a beta of 1.81.

Fortrea (NASDAQ:FTRE) last announced its quarterly earnings results on Friday, May 24th. The company reported $0.37 earnings per share for the quarter. The firm had revenue of $693.90 million for the quarter. Fortrea had a negative net margin of 37.57% and a positive return on equity of 5.25%. As a group, equities analysts forecast that Fortrea Holdings Inc. will post 0.51 EPS for the current year.

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.