31,616 Shares in Fortrea Holdings Inc. $FTRE Bought by Brighton Jones LLC

Brighton Jones LLC acquired a new position in shares of Fortrea Holdings Inc. (NASDAQ:FTRE) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 31,616 shares of the company’s stock, valued at approximately $156,000.

Several other hedge funds have also modified their holdings of FTRE. GAMMA Investing LLC lifted its position in shares of Fortrea by 736.6% during the first quarter. GAMMA Investing LLC now owns 7,847 shares of the company’s stock valued at $59,000 after buying an additional 6,909 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Fortrea during the first quarter valued at about $119,000. Allspring Global Investments Holdings LLC lifted its position in Fortrea by 56.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 17,343 shares of the company’s stock valued at $122,000 after acquiring an additional 6,270 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in Fortrea during the first quarter valued at approximately $94,000. Finally, Principal Financial Group Inc. lifted its position in Fortrea by 2.6% during the first quarter. Principal Financial Group Inc. now owns 446,200 shares of the company’s stock valued at $3,369,000 after acquiring an additional 11,247 shares during the last quarter.

Fortrea Stock Performance

Shares of FTRE stock opened at $10.46 on Friday. The firm has a market capitalization of $949.77 million, a price-to-earnings ratio of -0.92, a price-to-earnings-growth 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. The business has a fifty day moving average of $9.91 and a 200 day moving average of $7.12. Fortrea Holdings Inc. has a 1 year low of $3.97 and a 1 year high of $25.28.

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

Insiders Place Their Bets

In other Fortrea news, Director Erin L. Russell purchased 9,854 shares of Fortrea stock in a transaction on Tuesday, September 2nd. The stock was bought at an average cost of $10.15 per share, with a total value of $100,018.10. Following the transaction, the director owned 9,854 shares of the company’s stock, valued at $100,018.10. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter M. Neupert bought 32,500 shares of Fortrea stock in a transaction that occurred on Monday, August 11th. The shares were acquired at an average cost of $6.26 per share, with a total value of $203,450.00. Following the acquisition, the director owned 98,132 shares of the company’s stock, valued at $614,306.32. The trade was a 49.52% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, 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 insiders.

Analysts Set New Price Targets

FTRE has been the subject of a number of analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Fortrea in a research report on Wednesday, October 8th. Jefferies Financial Group increased their price objective on Fortrea from $7.00 to $9.50 and gave the company a “hold” rating in a report on Tuesday, September 9th. Mizuho increased their price objective on Fortrea from $7.00 to $9.00 and gave the company a “neutral” rating in a report on Friday, October 17th. Zacks Research cut Fortrea from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Finally, Barclays increased their price target on Fortrea from $6.00 to $8.00 and gave the company an “underweight” rating in a research note on Thursday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $12.39.

About Fortrea

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.