Fortrea Holdings Inc. (NASDAQ:FTRE) Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC reduced its stake in shares of Fortrea Holdings Inc. (NASDAQ:FTRE) by 2.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,670 shares of the company’s stock after selling 817 shares during the period. Yousif Capital Management LLC’s holdings in Fortrea were worth $647,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of FTRE. Allspring Global Investments Holdings LLC lifted its holdings in shares of Fortrea by 26.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,087 shares of the company’s stock worth $182,000 after acquiring an additional 1,917 shares during the period. Penn Davis Mcfarland Inc. lifted its holdings in shares of Fortrea by 86.4% during the 3rd quarter. Penn Davis Mcfarland Inc. now owns 1,097,196 shares of the company’s stock worth $21,944,000 after acquiring an additional 508,664 shares during the period. Everence Capital Management Inc. lifted its holdings in shares of Fortrea by 60.2% during the 3rd quarter. Everence Capital Management Inc. now owns 12,320 shares of the company’s stock worth $246,000 after acquiring an additional 4,630 shares during the period. Raleigh Capital Management Inc. purchased a new position in shares of Fortrea during the 3rd quarter worth about $57,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Fortrea by 21.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,241 shares of the company’s stock worth $64,000 after acquiring an additional 572 shares during the period.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FTRE. William Blair reiterated a “market perform” rating on shares of Fortrea in a report on Friday, November 8th. Barclays increased their price objective on shares of Fortrea from $20.00 to $25.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Robert W. Baird lowered shares of Fortrea from an “outperform” rating to a “neutral” rating and cut their price target for the company from $28.00 to $25.00 in a report on Friday, December 6th. TD Cowen raised their price target on shares of Fortrea from $23.00 to $25.00 and gave the company a “hold” rating in a report on Monday, November 11th. Finally, Baird R W lowered shares of Fortrea from a “strong-buy” rating to a “hold” rating in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating and eleven have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $23.30.

Insider Activity

In other news, CEO Thomas Pike sold 11,268 shares of Fortrea stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $18.04, for a total transaction of $203,274.72. Following the sale, the chief executive officer now owns 159,868 shares in the company, valued at $2,884,018.72. This trade represents a 6.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 12,386 shares of company stock worth $219,751 over the last 90 days. Company insiders own 0.12% of the company’s stock.

Fortrea Trading Down 0.1 %

FTRE opened at $14.97 on Monday. The firm has a market capitalization of $1.34 billion, a P/E ratio of -4.38, a P/E/G ratio of 1.76 and a beta of 1.20. The firm’s 50 day moving average is $17.99 and its 200-day moving average is $19.85. Fortrea Holdings Inc. has a 52-week low of $14.27 and a 52-week high of $41.02. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.74.

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.