Mutual of America Capital Management LLC Has $57,000 Holdings in Fortrea Holdings Inc. $FTRE

Mutual of America Capital Management LLC cut its position in shares of Fortrea Holdings Inc. (NASDAQ:FTRE) by 95.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,626 shares of the company’s stock after selling 236,936 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Fortrea were worth $57,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Sequoia Financial Advisors LLC grew its position in shares of Fortrea by 1.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 176,159 shares of the company’s stock worth $870,000 after buying an additional 1,802 shares during the period. Verdence Capital Advisors LLC grew its position in shares of Fortrea by 12.8% during the 2nd quarter. Verdence Capital Advisors LLC now owns 16,046 shares of the company’s stock worth $79,000 after buying an additional 1,827 shares during the period. Quarry LP grew its holdings 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 purchasing an additional 3,202 shares during the period. Brooklyn Investment Group grew its holdings in Fortrea by 9,577.5% in the first 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. Finally, State of Alaska Department of Revenue grew its holdings in Fortrea by 8.5% in the second quarter. State of Alaska Department of Revenue now owns 53,909 shares of the company’s stock worth $266,000 after purchasing an additional 4,207 shares during the period.

Insider Activity at Fortrea

In other Fortrea news, Director Peter M. Neupert bought 32,500 shares of the firm’s stock in a transaction dated Monday, August 11th. The stock was purchased at an average cost of $6.26 per share, with a total value of $203,450.00. Following the transaction, the director directly owned 98,132 shares in the company, valued at $614,306.32. This trade represents a 49.52% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Erin L. Russell bought 9,854 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were acquired at an average cost of $10.15 per share, with a total value of $100,018.10. Following the completion of the transaction, the director owned 9,854 shares in the company, valued at approximately $100,018.10. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders acquired 72,354 shares of company stock valued at $507,168 and sold 10,311 shares valued at $94,635. 0.38% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently commented on FTRE shares. Jefferies Financial Group raised their target price on Fortrea from $7.00 to $9.50 and gave the company a “hold” rating in a research note on Tuesday, September 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Fortrea in a research note on Wednesday, October 8th. Wall Street Zen cut Fortrea from a “buy” rating to a “hold” rating in a research note on Monday. Mizuho raised their price objective on Fortrea from $7.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, October 17th. Finally, Barclays lifted their price target on shares of Fortrea from $6.00 to $8.00 and gave the company an “underweight” rating in a research report on Thursday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $12.39.

Fortrea Stock Performance

Shares of FTRE stock opened at $10.03 on Friday. The firm has a 50-day moving average of $9.87 and a 200-day moving average of $7.07. The company has a market cap of $910.72 million, a P/E ratio of -0.88, a P/E/G ratio of 0.46 and a beta of 1.81. 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 one year low of $3.97 and a one year high of $25.28.

Fortrea (NASDAQ:FTRE) last posted its quarterly earnings data on Friday, May 24th. The company reported $0.37 EPS for the quarter. The firm had revenue of $693.90 million during the quarter. Fortrea had a negative net margin of 37.57% and a positive return on equity of 5.25%. Equities research analysts forecast that Fortrea Holdings Inc. will post 0.51 EPS for the current fiscal 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.