SG Americas Securities LLC Reduces Position in Fortrea Holdings Inc. $FTRE

SG Americas Securities LLC decreased its holdings in shares of Fortrea Holdings Inc. (NASDAQ:FTRE) by 65.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,906 shares of the company’s stock after selling 84,412 shares during the period. SG Americas Securities LLC’s holdings in Fortrea were worth $222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of FTRE. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings 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 purchasing an additional 1,769 shares during the period. Sequoia Financial Advisors LLC increased its position in Fortrea by 1.0% in the second 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 in the last quarter. Verdence Capital Advisors LLC raised its stake in shares of Fortrea by 12.8% in 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 during the period. Quarry LP lifted its position in shares of Fortrea by 73.4% during 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 in the last quarter. Finally, Brooklyn Investment Group grew its stake in shares of Fortrea by 9,577.5% during the 1st quarter. Brooklyn Investment Group now owns 3,871 shares of the company’s stock valued at $29,000 after acquiring an additional 3,831 shares during the period.

Insider Transactions at Fortrea

In other news, Director Erin L. Russell purchased 9,854 shares of the company’s stock in a transaction that occurred 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 completion of the purchase, the director owned 9,854 shares in the company, valued at approximately $100,018.10. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Jill G. Mcconnell sold 3,156 shares of the firm’s stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $10.23, for a total value of $32,285.88. Following the transaction, the chief financial officer owned 58,770 shares of the company’s stock, valued at $601,217.10. This represents a 5.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 5,425 shares of company stock worth $55,498 over the last quarter. 0.38% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

FTRE has been the subject of several analyst reports. Wall Street Zen lowered shares of Fortrea from a “buy” rating to a “hold” rating in a report on Monday, October 27th. Mizuho set a $11.00 price target on shares of Fortrea in a research report on Friday, November 7th. Evercore ISI set a $14.00 price objective on shares of Fortrea in a research note on Thursday, November 6th. Barclays lifted their target price on shares of Fortrea from $8.00 to $10.00 and gave the company an “underweight” rating in a research note on Thursday, November 6th. Finally, Jefferies Financial Group increased their price target on Fortrea from $7.00 to $9.50 and gave the stock a “hold” rating in a research note on Tuesday, September 9th. One 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $11.69.

Fortrea Price Performance

FTRE stock opened at $12.71 on Monday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.00 and a current ratio of 1.00. The company’s fifty day moving average price is $10.34 and its 200-day moving average price is $7.90. Fortrea Holdings Inc. has a one year low of $3.97 and a one year high of $25.05. The company has a market capitalization of $1.17 billion, a PE ratio of -1.13, a price-to-earnings-growth ratio of 0.60 and a beta of 1.75.

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

Fortrea 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.