WINTON GROUP Ltd Raises Stock Holdings in Fortrea Holdings Inc. $FTRE

WINTON GROUP Ltd boosted its position in shares of Fortrea Holdings Inc. (NASDAQ:FTRE) by 26.7% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 389,155 shares of the company’s stock after acquiring an additional 82,059 shares during the quarter. WINTON GROUP Ltd’s holdings in Fortrea were worth $6,771,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its holdings in shares of Fortrea by 3.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 8,272,597 shares of the company’s stock valued at $142,702,000 after purchasing an additional 293,992 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Fortrea by 494.8% during the second quarter. AQR Capital Management LLC now owns 6,515,124 shares of the company’s stock worth $31,729,000 after purchasing an additional 5,419,842 shares during the period. State Street Corp boosted its position in Fortrea by 1.0% in the fourth quarter. State Street Corp now owns 4,110,899 shares of the company’s stock valued at $70,913,000 after buying an additional 39,777 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Fortrea by 21.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,219,029 shares of the company’s stock valued at $55,528,000 after buying an additional 565,891 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in Fortrea by 0.3% in the 4th quarter. Deutsche Bank AG now owns 2,556,193 shares of the company’s stock worth $44,094,000 after buying an additional 7,685 shares during the period.

Fortrea Trading Down 1.6%

Fortrea stock opened at $16.79 on Thursday. The firm has a market cap of $1.60 billion, a PE ratio of -18.45, a P/E/G ratio of 0.41 and a beta of 1.97. Fortrea Holdings Inc. has a 12 month low of $8.31 and a 12 month high of $21.39. The stock’s 50 day simple moving average is $18.26 and its two-hundred day simple moving average is $14.48. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.98.

Fortrea (NASDAQ:FTRE) last posted its earnings results on Wednesday, July 29th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.05. Fortrea had a negative net margin of 3.18% and a positive return on equity of 10.72%. The firm had revenue of $678.20 million during the quarter, compared to analyst estimates of $647.57 million. Analysts anticipate that Fortrea Holdings Inc. will post 0.85 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Anshul Thakral sold 99,869 shares of the firm’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $19.16, for a total transaction of $1,913,490.04. Following the sale, the chief executive officer owned 316,797 shares in the company, valued at approximately $6,069,830.52. This trade represents a 23.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FTRE. TD Cowen raised their price target on shares of Fortrea from $19.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Truist Financial upped their price objective on shares of Fortrea from $19.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, July 30th. William Blair upgraded shares of Fortrea to a “hold” rating in a research note on Wednesday, July 29th. Wall Street Zen cut shares of Fortrea from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $20.00 target price on shares of Fortrea in a research report on Thursday, July 30th. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $22.00.

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.