XTX Topco Ltd bought a new position in Fortrea Holdings Inc. (NASDAQ:FTRE – Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 17,998 shares of the company’s stock, valued at approximately $420,000.
Several other institutional investors and hedge funds also recently bought and sold shares of FTRE. Concord Wealth Partners increased its position in Fortrea by 152.8% in the first 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. Parallel Advisors LLC purchased a new position in Fortrea during the fourth quarter valued at approximately $36,000. nVerses Capital LLC purchased a new position in Fortrea during the second quarter valued at approximately $26,000. Ables Iannone Moore & Associates Inc. bought a new position in shares of Fortrea in the fourth quarter worth approximately $40,000. Finally, Gladius Capital Management LP purchased a new stake in shares of Fortrea in the second quarter worth $30,000.
Fortrea Stock Performance
Fortrea stock opened at $19.48 on Thursday. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.77. Fortrea Holdings Inc. has a twelve month low of $18.07 and a twelve month high of $41.02. The company’s 50-day moving average price is $23.40 and its 200-day moving average price is $28.55. The company has a market cap of $1.75 billion, a PE ratio of -14.01, a price-to-earnings-growth ratio of 2.21 and a beta of 0.56.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Fortrea from $28.00 to $23.00 and set a “hold” rating for the company in a report on Tuesday, August 20th. The Goldman Sachs Group initiated coverage on Fortrea in a research report on Thursday, June 6th. They set a “neutral” rating and a $28.00 target price for the company. Citigroup lowered their price target on Fortrea from $42.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. TD Cowen cut their price objective on shares of Fortrea from $27.00 to $23.00 and set a “hold” rating for the company in a report on Tuesday, August 13th. Finally, Bank of America lowered their target price on shares of Fortrea from $26.00 to $21.00 and set an “underperform” rating on the stock in a report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $24.90.
Read Our Latest Analysis on FTRE
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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