Fortrea Holdings Inc. (NASDAQ:FTRE) Shares Purchased by Hahn Capital Management LLC

Hahn Capital Management LLC increased its position in shares of Fortrea Holdings Inc. (NASDAQ:FTRE) by 47.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 38,720 shares of the company’s stock after acquiring an additional 12,495 shares during the period. Fortrea accounts for about 0.3% of Hahn Capital Management LLC’s holdings, making the stock its 29th largest position. Hahn Capital Management LLC’s holdings in Fortrea were worth $722,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of FTRE. Pacer Advisors Inc. lifted its stake in Fortrea by 5,021,169.7% during the 3rd quarter. Pacer Advisors Inc. now owns 6,125,949 shares of the company’s stock worth $122,519,000 after acquiring an additional 6,125,827 shares in the last quarter. FMR LLC lifted its stake in Fortrea by 91.6% during the 3rd quarter. FMR LLC now owns 4,821,404 shares of the company’s stock worth $96,428,000 after acquiring an additional 2,304,677 shares in the last quarter. Starboard Value LP lifted its stake in Fortrea by 5.0% during the 3rd quarter. Starboard Value LP now owns 8,400,000 shares of the company’s stock worth $168,000,000 after acquiring an additional 400,000 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Fortrea by 192.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 472,918 shares of the company’s stock worth $9,458,000 after acquiring an additional 311,018 shares in the last quarter. Finally, Peregrine Capital Management LLC purchased a new stake in Fortrea during the 4th quarter worth about $5,627,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Barclays upped their price target on Fortrea from $20.00 to $25.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. TD Cowen upped their price target on Fortrea from $23.00 to $25.00 and gave the stock a “hold” rating in a report on Monday, November 11th. William Blair restated a “market perform” rating on shares of Fortrea in a report on Friday, November 8th. Baird R W downgraded Fortrea from a “strong-buy” rating to a “hold” rating in a report on Friday, December 6th. Finally, Citigroup downgraded Fortrea from a “buy” rating to a “neutral” rating and cut their price target for the stock from $30.00 to $23.00 in a report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating and eleven have given a hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $23.30.

Fortrea Trading Down 6.8 %

FTRE opened at $14.05 on Friday. Fortrea Holdings Inc. has a one year low of $13.81 and a one year high of $41.02. The company has a market cap of $1.26 billion, a P/E ratio of -4.11, a PEG ratio of 1.78 and a beta of 1.21. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.18 and a current ratio of 1.18. The business’s 50-day simple moving average is $17.09 and its 200-day simple moving average is $19.26.

Insider Activity

In related news, CEO Thomas Pike sold 11,268 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $18.04, for a total transaction of $203,274.72. Following the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders have sold 12,386 shares of company stock worth $219,751. 0.12% of the stock is currently owned by insiders.

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.