WINTON GROUP Ltd Buys 82,059 Shares of Fortrea Holdings Inc. $FTRE

WINTON GROUP Ltd grew its stake in Fortrea Holdings Inc. (NASDAQ:FTRE - Free Report) by 26.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 389,155 shares of the company's stock after acquiring an additional 82,059 shares during the quarter. WINTON GROUP Ltd owned about 0.41% of Fortrea worth $6,771,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. lifted its stake in shares of Fortrea by 3.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 8,272,597 shares of the company's stock worth $142,702,000 after purchasing an additional 293,992 shares during the last quarter. AQR Capital Management LLC grew its stake in Fortrea by 494.8% in the second quarter. AQR Capital Management LLC now owns 6,515,124 shares of the company's stock valued at $31,729,000 after purchasing an additional 5,419,842 shares during the last quarter. State Street Corp grew its stake 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 purchasing an additional 39,777 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings 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 worth $55,528,000 after purchasing an additional 565,891 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in Fortrea by 0.3% in the fourth quarter. Deutsche Bank AG now owns 2,556,193 shares of the company's stock worth $44,094,000 after purchasing an additional 7,685 shares in the last quarter.

Insiders Place Their Bets

In other Fortrea news, CEO Anshul Thakral sold 99,869 shares of the business's stock in a transaction that occurred 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 of the company's stock, valued at approximately $6,069,830.52. The trade was a 23.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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.

Fortrea Price Performance

Shares of NASDAQ FTRE opened at $16.79 on Thursday. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.96 and a current ratio of 0.96. The company 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. The business has a 50-day simple moving average of $18.26 and a two-hundred day simple moving average of $14.48. Fortrea Holdings Inc. has a fifty-two week low of $8.31 and a fifty-two week high of $21.39.

Fortrea (NASDAQ:FTRE - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.23 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.05. The business had revenue of $678.20 million for the quarter, compared to analyst estimates of $647.57 million. Fortrea had a positive return on equity of 10.72% and a negative net margin of 3.18%. As a group, equities analysts expect that Fortrea Holdings Inc. will post 0.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $20.00 price target on shares of Fortrea in a report on Thursday, July 30th. Zacks Research lowered shares of Fortrea from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 4th. Mizuho increased their target price on shares of Fortrea from $13.00 to $16.00 and gave the company a "neutral" rating in a research report on Monday, July 13th. TD Cowen raised their target price on shares of Fortrea from $19.00 to $23.00 and gave the company a "buy" rating in a research note on Tuesday, August 4th. Finally, Wall Street Zen lowered shares of Fortrea from a "buy" rating to a "hold" rating in a report on Saturday, August 29th. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Fortrea has a consensus rating of "Hold" and a consensus price target of $22.00.

Fortrea Company 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.

Want to see what other hedge funds are holding FTRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fortrea Holdings Inc. (NASDAQ:FTRE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.