Squarepoint Ops LLC Decreases Stake in Fortrea Holdings Inc. $FTRE

Squarepoint Ops LLC trimmed its holdings in shares of Fortrea Holdings Inc. (NASDAQ:FTRE) by 82.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 105,570 shares of the company’s stock after selling 500,587 shares during the quarter. Squarepoint Ops LLC owned 0.12% of Fortrea worth $522,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Allworth Financial LP grew its stake in Fortrea by 6,802.4% during the 2nd quarter. Allworth Financial LP now owns 5,660 shares of the company’s stock valued at $28,000 after purchasing an additional 5,578 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Fortrea by 137.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,713 shares of the company’s stock valued at $43,000 after purchasing an additional 5,036 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in shares of Fortrea during the 2nd quarter valued at approximately $46,000. Journey Strategic Wealth LLC acquired a new stake in shares of Fortrea during the second quarter worth approximately $50,000. Finally, waypoint wealth counsel acquired a new stake in shares of Fortrea during the second quarter worth approximately $53,000.

Fortrea Trading Down 1.2%

NASDAQ FTRE opened at $17.70 on Thursday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.00 and a current ratio of 1.00. Fortrea Holdings Inc. has a one year low of $3.97 and a one year high of $20.26. The company has a 50-day simple moving average of $12.54 and a 200-day simple moving average of $9.27. The firm has a market capitalization of $1.64 billion, a PE ratio of -1.57, a price-to-earnings-growth ratio of 0.80 and a beta of 1.76.

Fortrea (NASDAQ:FTRE) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.04). Fortrea had a positive return on equity of 5.64% and a negative net margin of 36.77%.The business had revenue of $701.30 million for the quarter, compared to analyst estimates of $643.43 million. On average, equities analysts forecast that Fortrea Holdings Inc. will post 0.51 earnings per share for the current year.

Wall Street Analyst Weigh In

FTRE has been the topic of several recent analyst reports. Zacks Research cut shares of Fortrea from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Mizuho boosted their target price on shares of Fortrea from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Thursday, December 18th. Barclays set a $15.00 target price on shares of Fortrea and gave the company an “equal weight” rating in a research note on Monday, December 15th. Evercore ISI set a $14.00 price target on Fortrea in a research note on Thursday, November 6th. Finally, Robert W. Baird boosted their price objective on Fortrea from $9.00 to $14.00 and gave the company an “outperform” rating in a report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $13.28.

About Fortrea

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.