BBR Partners LLC Has $277,000 Stock Position in Fortrea Holdings Inc. (NASDAQ:FTRE)

BBR Partners LLC boosted its holdings in shares of Fortrea Holdings Inc. (NASDAQ:FTRE) by 102.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,883 shares of the company’s stock after acquiring an additional 6,000 shares during the quarter. BBR Partners LLC’s holdings in Fortrea were worth $277,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Keeley Teton Advisors LLC lifted its position in shares of Fortrea by 2.7% in the first quarter. Keeley Teton Advisors LLC now owns 14,255 shares of the company’s stock worth $572,000 after purchasing an additional 370 shares in the last quarter. Financial Counselors Inc. increased its stake in Fortrea by 0.4% in the 1st quarter. Financial Counselors Inc. now owns 94,880 shares of the company’s stock valued at $3,808,000 after buying an additional 395 shares during the period. CWM LLC lifted its position in Fortrea by 12.5% in the 2nd quarter. CWM LLC now owns 4,273 shares of the company’s stock worth $100,000 after buying an additional 475 shares in the last quarter. Concord Wealth Partners lifted its position in Fortrea by 152.8% in the 1st quarter. Concord Wealth Partners now owns 862 shares of the company’s stock worth $35,000 after buying an additional 521 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in shares of Fortrea by 6.9% during the 1st quarter. ProShare Advisors LLC now owns 8,165 shares of the company’s stock valued at $328,000 after buying an additional 524 shares during the period.

Insiders Place Their Bets

In other Fortrea news, General Counsel James S. Hanson acquired 2,000 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was purchased at an average price of $25.30 per share, for a total transaction of $50,600.00. Following the transaction, the general counsel now owns 7,475 shares in the company, valued at approximately $189,117.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.12% of the company’s stock.

Fortrea Price Performance

Shares of FTRE stock opened at $20.80 on Friday. Fortrea Holdings Inc. has a 12 month low of $18.07 and a 12 month high of $41.02. The company has a market capitalization of $1.86 billion and a P/E ratio of -14.96. The stock has a 50 day moving average of $24.24 and a two-hundred day moving average of $30.08. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.77.

Fortrea (NASDAQ:FTRE) last posted its earnings results on Monday, August 12th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). The business had revenue of $662.40 million during the quarter, compared to the consensus estimate of $689.08 million. Fortrea had a negative net margin of 10.09% and a positive return on equity of 1.98%. The business’s revenue was down 8.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.52 EPS. As a group, equities analysts expect that Fortrea Holdings Inc. will post 0.6 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Mizuho began coverage on Fortrea in a report on Tuesday, May 28th. They set a “neutral” rating and a $27.00 price objective for the company. Barclays reduced their price target on Fortrea from $30.00 to $21.00 and set an “equal weight” rating for the company in a report on Tuesday, August 13th. TD Cowen dropped their price objective on Fortrea from $27.00 to $23.00 and set a “hold” rating on the stock in a report on Tuesday, August 13th. Robert W. Baird reduced their target price on shares of Fortrea from $38.00 to $28.00 and set an “outperform” rating for the company in a research note on Tuesday, August 13th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Fortrea from $28.00 to $23.00 and set a “hold” rating on the stock in a research note on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $27.20.

Fortrea Company 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.