Ausbil Investment Management Ltd Has $3.88 Million Stock Position in Fortrea Holdings Inc. $FTRE

Ausbil Investment Management Ltd increased its stake in Fortrea Holdings Inc. (NASDAQ:FTRE) by 587.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 224,713 shares of the company’s stock after purchasing an additional 192,015 shares during the quarter. Fortrea makes up 2.2% of Ausbil Investment Management Ltd’s investment portfolio, making the stock its 19th largest holding. Ausbil Investment Management Ltd owned about 0.24% of Fortrea worth $3,876,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of FTRE. Amalgamated Bank boosted its holdings in shares of Fortrea by 4.0% during the third quarter. Amalgamated Bank now owns 26,688 shares of the company’s stock worth $225,000 after purchasing an additional 1,026 shares during the period. Allworth Financial LP increased its stake in Fortrea by 19.6% in the 3rd quarter. Allworth Financial LP now owns 6,769 shares of the company’s stock valued at $57,000 after buying an additional 1,109 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Fortrea by 8.2% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 23,235 shares of the company’s stock worth $115,000 after buying an additional 1,769 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Fortrea by 214.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,341 shares of the company’s stock valued at $28,000 after buying an additional 2,278 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of Fortrea by 37.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 8,386 shares of the company’s stock valued at $71,000 after buying an additional 2,303 shares during the period.

Fortrea Trading Up 1.2%

Fortrea stock opened at $9.55 on Friday. Fortrea Holdings Inc. has a one year low of $3.97 and a one year high of $18.67. The company’s fifty day moving average price is $12.22 and its two-hundred day moving average price is $12.40. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market capitalization of $892.93 million, a price-to-earnings ratio of -0.88, a PEG ratio of 0.34 and a beta of 1.80.

Fortrea (NASDAQ:FTRE) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.07). The company had revenue of $660.50 million during the quarter, compared to analyst estimates of $665.22 million. Fortrea had a positive return on equity of 6.23% and a negative net margin of 36.21%. On average, analysts forecast that Fortrea Holdings Inc. will post 0.51 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FTRE has been the topic of a number of research reports. Evercore set a $25.00 price target on shares of Fortrea and gave the stock an “outperform” rating in a research note on Tuesday, January 6th. Wedbush set a $21.00 target price on Fortrea in a research note on Thursday, December 11th. Citigroup raised Fortrea from a “neutral” rating to a “buy” rating and upped their target price for the stock from $12.00 to $21.00 in a research report on Thursday, December 11th. Barclays cut their price target on Fortrea from $15.00 to $12.00 and set an “equal weight” rating for the company in a research note on Friday, February 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Fortrea in a report on Thursday, January 22nd. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Fortrea has a consensus rating of “Hold” and an average price target of $16.15.

Insider Transactions at Fortrea

In other Fortrea news, CFO Jill G. Mcconnell sold 5,061 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $9.07, for a total transaction of $45,903.27. Following the completion of the sale, the chief financial officer owned 69,796 shares of the company’s stock, valued at $633,049.72. This represents a 6.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 9,673 shares of company stock worth $92,242 over the last three months. 0.38% of the stock is owned by corporate insiders.

Fortrea Profile

Fortrea, Inc is a global contract development and manufacturing organization (CDMO) that provides integrated solutions for pharmaceutical and biotechnology companies. Established as a spin-off from Thermo Fisher Scientific’s Pharma Services business in October 2023, Fortrea leverages a legacy of scientific expertise and manufacturing scale to support drug development from early-stage research through commercial production. The company’s comprehensive offerings address the complex needs of both small-molecule and biologics programs, making it a single source for clients seeking to accelerate timelines and manage costs.

Fortrea’s core services encompass analytical and formulation development, process optimization, clinical and commercial manufacturing, and packaging services.