Allworth Financial LP Acquires 5,578 Shares of Fortrea Holdings Inc. $FTRE

Allworth Financial LP raised its holdings in Fortrea Holdings Inc. (NASDAQ:FTRE) by 6,802.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,660 shares of the company’s stock after buying an additional 5,578 shares during the period. Allworth Financial LP’s holdings in Fortrea were worth $28,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sequoia Financial Advisors LLC boosted its stake in Fortrea by 1.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 176,159 shares of the company’s stock valued at $870,000 after purchasing an additional 1,802 shares during the last quarter. Verdence Capital Advisors LLC grew its holdings in Fortrea by 12.8% during the second 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 in the last quarter. Quarry LP raised its position in Fortrea by 73.4% in the 1st quarter. Quarry LP now owns 7,567 shares of the company’s stock valued at $57,000 after buying an additional 3,202 shares during the last quarter. Brooklyn Investment Group boosted its holdings 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 acquiring an additional 3,831 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its stake in shares of Fortrea by 8.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 53,909 shares of the company’s stock worth $266,000 after acquiring an additional 4,207 shares in the last quarter.

Fortrea Price Performance

FTRE opened at $11.95 on Tuesday. The firm has a 50-day moving average price of $10.15 and a 200-day moving average price of $7.69. Fortrea Holdings Inc. has a twelve month low of $3.97 and a twelve month high of $25.05. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.81. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of -1.06, a PEG ratio of 0.51 and a beta of 1.86.

Fortrea (NASDAQ:FTRE) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.04). The business had revenue of $701.30 million during the quarter, compared to the consensus estimate of $643.43 million. Fortrea had a positive return on equity of 5.64% and a negative net margin of 36.77%. Fortrea has set its FY 2025 guidance at EPS. Equities analysts expect that Fortrea Holdings Inc. will post 0.51 EPS for the current year.

Analyst Upgrades and Downgrades

FTRE has been the topic of several analyst reports. Evercore ISI set a $14.00 price target on shares of Fortrea in a report on Thursday, November 6th. Mizuho set a $11.00 target price on Fortrea in a research note on Friday, November 7th. Jefferies Financial Group increased their price target on Fortrea from $7.00 to $9.50 and gave the company a “hold” rating in a research report on Tuesday, September 9th. Robert W. Baird boosted their price objective on Fortrea from $9.00 to $14.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 3rd. Finally, Wall Street Zen downgraded Fortrea from a “buy” rating to a “hold” rating in a research note on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $11.69.

Insiders Place Their Bets

In other Fortrea news, CFO Jill G. Mcconnell sold 3,156 shares of Fortrea stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $10.23, for a total transaction of $32,285.88. Following the completion of the transaction, the chief financial officer owned 58,770 shares of the company’s stock, valued at $601,217.10. The trade was a 5.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Erin L. Russell purchased 9,854 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were bought at an average price of $10.15 per share, for a total transaction of $100,018.10. Following the completion of the transaction, the director owned 9,854 shares of the company’s stock, valued at approximately $100,018.10. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have sold 5,425 shares of company stock worth $55,498. 0.38% of the stock is currently owned by corporate insiders.

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.