SG Americas Securities LLC Boosts Holdings in Fortrea Holdings Inc. (NASDAQ:FTRE)

SG Americas Securities LLC grew its position in shares of Fortrea Holdings Inc. (NASDAQ:FTRE - Free Report) by 960.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 129,318 shares of the company's stock after purchasing an additional 117,122 shares during the period. SG Americas Securities LLC owned approximately 0.14% of Fortrea worth $976,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of Fortrea by 736.6% in the first quarter. GAMMA Investing LLC now owns 7,847 shares of the company's stock worth $59,000 after buying an additional 6,909 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Fortrea in the fourth quarter worth $35,000. PharVision Advisers LLC bought a new stake in shares of Fortrea in the fourth quarter worth $345,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Fortrea by 2.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 255,034 shares of the company's stock worth $4,756,000 after buying an additional 5,691 shares during the last quarter. Finally, Two Sigma Advisers LP bought a new stake in shares of Fortrea in the fourth quarter worth $388,000.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FTRE. The Goldman Sachs Group dropped their price target on shares of Fortrea from $7.00 to $5.00 and set a "neutral" rating for the company in a research note on Wednesday, May 14th. Cowen restated a "hold" rating on shares of Fortrea in a research note on Wednesday, May 14th. Citigroup reaffirmed a "neutral" rating on shares of Fortrea in a report on Thursday, May 22nd. Barclays decreased their price objective on shares of Fortrea from $6.00 to $5.00 and set an "underweight" rating for the company in a report on Tuesday, May 13th. Finally, William Blair reaffirmed a "market perform" rating on shares of Fortrea in a report on Tuesday, March 4th. Two research analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $15.00.

Fortrea Stock Performance

Shares of FTRE opened at $5.45 on Thursday. Fortrea Holdings Inc. has a 1 year low of $3.97 and a 1 year high of $28.41. The company has a market cap of $493.23 million, a price-to-earnings ratio of -0.62, a price-to-earnings-growth ratio of 0.37 and a beta of 1.59. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a fifty day moving average of $5.21 and a 200-day moving average of $11.58.

Fortrea (NASDAQ:FTRE - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.09. The company had revenue of $651.30 million during the quarter, compared to the consensus estimate of $609.63 million. Fortrea had a negative net margin of 29.43% and a positive return on equity of 2.84%. As a group, equities analysts anticipate that Fortrea Holdings Inc. will post 0.51 earnings per share for the current 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.

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