Fortrea Holdings Inc. (NASDAQ:FTRE) Shares Acquired by AQR Capital Management LLC

AQR Capital Management LLC boosted its position in shares of Fortrea Holdings Inc. (NASDAQ:FTRE - Free Report) by 23.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 388,503 shares of the company's stock after purchasing an additional 74,175 shares during the period. AQR Capital Management LLC owned approximately 0.43% of Fortrea worth $7,246,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in FTRE. JPMorgan Chase & Co. grew its position in Fortrea by 21.2% in the third quarter. JPMorgan Chase & Co. now owns 364,413 shares of the company's stock worth $7,288,000 after acquiring an additional 63,766 shares during the period. Penn Davis Mcfarland Inc. increased its holdings in shares of Fortrea by 0.8% in the 4th quarter. Penn Davis Mcfarland Inc. now owns 1,106,080 shares of the company's stock valued at $20,628,000 after acquiring an additional 8,884 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Fortrea during the 4th quarter worth approximately $227,000. Whalen Wealth Management Inc. purchased a new stake in Fortrea in the fourth quarter valued at $204,000. Finally, KBC Group NV lifted its holdings in shares of Fortrea by 5.0% in the 4th quarter. KBC Group NV now owns 35,031 shares of the company's stock valued at $654,000 after purchasing an additional 1,659 shares during the last quarter.

Fortrea Price Performance

NASDAQ FTRE traded up $0.19 during mid-day trading on Friday, hitting $6.14. The stock had a trading volume of 4,131,258 shares, compared to its average volume of 1,696,994. The company has a 50 day simple moving average of $7.22 and a 200 day simple moving average of $14.34. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.74. The company has a market cap of $555.92 million, a price-to-earnings ratio of -1.80, a P/E/G ratio of 1.78 and a beta of 2.15. Fortrea Holdings Inc. has a 52-week low of $4.77 and a 52-week high of $29.32.

Fortrea (NASDAQ:FTRE - Get Free Report) last released its quarterly earnings data on Monday, March 3rd. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.18). Fortrea had a positive return on equity of 2.00% and a negative net margin of 10.99%. The business had revenue of $697.00 million during the quarter, compared to analysts' expectations of $703.22 million. During the same quarter in the prior year, the firm earned $0.19 earnings per share. Equities analysts forecast that Fortrea Holdings Inc. will post 0.51 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

FTRE has been the topic of several research reports. William Blair reissued a "market perform" rating on shares of Fortrea in a research report on Tuesday, March 4th. Truist Financial started coverage on Fortrea in a report on Friday, May 2nd. They set a "hold" rating and a $7.00 price target for the company. Barclays reissued an "underweight" rating and issued a $6.00 price objective (down from $12.00) on shares of Fortrea in a research note on Thursday, April 10th. Robert W. Baird set a $12.00 target price on shares of Fortrea in a research note on Tuesday, March 4th. Finally, Evercore ISI dropped their price target on shares of Fortrea from $20.00 to $15.00 and set an "in-line" rating on the stock in a research note on Tuesday, March 4th. Two analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $15.82.

About Fortrea

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.