13,074 Shares in Fortrea Holdings Inc. $FTRE Bought by Landscape Capital Management L.L.C.

Landscape Capital Management L.L.C. acquired a new position in shares of Fortrea Holdings Inc. (NASDAQ:FTRE) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 13,074 shares of the company’s stock, valued at approximately $99,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Fortrea by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 9,953,261 shares of the company’s stock worth $75,147,000 after buying an additional 69,005 shares during the last quarter. Corvex Management LP grew its stake in Fortrea by 56.7% during the 4th quarter. Corvex Management LP now owns 3,480,898 shares of the company’s stock worth $64,919,000 after buying an additional 1,260,156 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Fortrea during the 1st quarter worth $9,232,000. Deutsche Bank AG boosted its position in Fortrea by 17,183.6% during the 1st quarter. Deutsche Bank AG now owns 1,165,086 shares of the company’s stock worth $8,796,000 after acquiring an additional 1,158,345 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Fortrea by 55.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 952,021 shares of the company’s stock worth $7,188,000 after acquiring an additional 339,124 shares during the period.

Insider Buying and Selling at Fortrea

In other news, Director Peter M. Neupert acquired 32,500 shares of the business’s stock in a transaction dated Monday, August 11th. The stock was acquired at an average price of $6.26 per share, for a total transaction of $203,450.00. Following the completion of the acquisition, the director directly owned 98,132 shares in the company, valued at $614,306.32. This represents a 49.52% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CFO Jill G. Mcconnell sold 4,886 shares of the company’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $8.01, for a total value of $39,136.86. Following the sale, the chief financial officer directly owned 54,770 shares of the company’s stock, valued at approximately $438,707.70. This represents a 8.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Mizuho reduced their price target on Fortrea from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Friday, July 11th. Baird R W upgraded Fortrea from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 4th. Robert W. Baird upgraded Fortrea from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $7.00 to $9.00 in a research report on Monday, August 4th. Barclays reiterated an “underweight” rating and set a $6.00 price target (up previously from $5.00) on shares of Fortrea in a research report on Thursday, August 7th. Finally, Cowen reiterated a “hold” rating on shares of Fortrea in a research report on Wednesday, May 14th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $12.22.

Fortrea Trading Up 2.1%

Shares of Fortrea stock opened at $9.85 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.87. The firm has a market cap of $894.38 million, a price-to-earnings ratio of -0.87 and a beta of 1.88. The business has a fifty day simple moving average of $6.46 and a 200-day simple moving average of $7.04. Fortrea Holdings Inc. has a fifty-two week low of $3.97 and a fifty-two week high of $25.28.

Fortrea (NASDAQ:FTRE) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.13. The business had revenue of $710.30 million during the quarter, compared to analyst estimates of $631.61 million. Fortrea had a positive return on equity of 5.25% and a negative net margin of 37.57%. On average, equities 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.