XTX Topco Ltd Sells 7,306 Shares of Fortrea Holdings Inc. (NASDAQ:FTRE)

XTX Topco Ltd decreased its position in Fortrea Holdings Inc. (NASDAQ:FTRE) by 40.6% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 10,692 shares of the company’s stock after selling 7,306 shares during the period. XTX Topco Ltd’s holdings in Fortrea were worth $214,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. State Street Corp boosted its holdings in Fortrea by 7.7% during the third quarter. State Street Corp now owns 3,250,693 shares of the company’s stock worth $65,014,000 after purchasing an additional 233,577 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in Fortrea by 25.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,135,619 shares of the company’s stock worth $22,712,000 after buying an additional 227,109 shares in the last quarter. Janus Henderson Group PLC lifted its position in Fortrea by 2.0% during the 3rd quarter. Janus Henderson Group PLC now owns 41,292 shares of the company’s stock worth $825,000 after buying an additional 792 shares in the last quarter. Centiva Capital LP acquired a new position in shares of Fortrea during the 3rd quarter worth about $220,000. Finally, Atom Investors LP grew its holdings in shares of Fortrea by 9.1% in the 3rd quarter. Atom Investors LP now owns 42,504 shares of the company’s stock valued at $850,000 after acquiring an additional 3,531 shares in the last quarter.

Fortrea Stock Up 0.7 %

Fortrea stock opened at $18.50 on Friday. Fortrea Holdings Inc. has a twelve month low of $16.53 and a twelve month high of $41.02. The stock has a market cap of $1.66 billion, a P/E ratio of -5.41, a P/E/G ratio of 2.94 and a beta of 1.16. The company’s 50-day moving average price is $19.70 and its two-hundred day moving average price is $22.04. 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 (NASDAQ:FTRE) last released its quarterly earnings results on Friday, November 8th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). Fortrea had a positive return on equity of 2.00% and a negative net margin of 10.99%. The firm had revenue of $674.90 million for the quarter, compared to analyst estimates of $674.86 million. During the same period in the previous year, the business posted $0.24 earnings per share. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. As a group, analysts expect that Fortrea Holdings Inc. will post 0.57 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on FTRE shares. William Blair reiterated a “market perform” rating on shares of Fortrea in a report on Friday, November 8th. Barclays increased their price objective on Fortrea from $20.00 to $25.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Citigroup downgraded shares of Fortrea from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $30.00 to $23.00 in a report on Wednesday, December 11th. TD Cowen increased their price target on shares of Fortrea from $23.00 to $25.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Finally, Robert W. Baird lowered shares of Fortrea from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $28.00 to $25.00 in a research note on Friday, December 6th. One equities research analyst has rated the stock with a sell rating and eleven have issued a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $23.30.

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.