Thompson Siegel & Walmsley LLC Has $226,000 Stock Position in Fortrea Holdings Inc. (NASDAQ:FTRE)

Thompson Siegel & Walmsley LLC trimmed its position in Fortrea Holdings Inc. (NASDAQ:FTRE) by 22.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,114 shares of the company’s stock after selling 3,454 shares during the quarter. Thompson Siegel & Walmsley LLC’s holdings in Fortrea were worth $226,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in FTRE. Assetmark Inc. lifted its position in shares of Fortrea by 10.7% in the third quarter. Assetmark Inc. now owns 16,238 shares of the company’s stock worth $325,000 after purchasing an additional 1,566 shares in the last quarter. Covestor Ltd lifted its position in shares of Fortrea by 102.4% in the third quarter. Covestor Ltd now owns 2,763 shares of the company’s stock worth $55,000 after purchasing an additional 1,398 shares in the last quarter. Natixis Advisors LLC lifted its position in shares of Fortrea by 73.9% in the third quarter. Natixis Advisors LLC now owns 183,501 shares of the company’s stock worth $3,670,000 after purchasing an additional 78,010 shares in the last quarter. Mutual of America Capital Management LLC lifted its position in shares of Fortrea by 9.0% in the third quarter. Mutual of America Capital Management LLC now owns 495,444 shares of the company’s stock worth $9,909,000 after purchasing an additional 40,748 shares in the last quarter. Finally, Commerce Bank lifted its position in shares of Fortrea by 75.1% in the third quarter. Commerce Bank now owns 24,962 shares of the company’s stock worth $499,000 after purchasing an additional 10,705 shares in the last quarter.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Citigroup lowered shares of Fortrea from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $30.00 to $23.00 in a research report on Wednesday, December 11th. Baird R W lowered shares of Fortrea from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 6th. Evercore ISI cut their price objective on shares of Fortrea from $20.00 to $15.00 and set an “in-line” rating on the stock in a research report on Tuesday, March 4th. Barclays cut their price objective on shares of Fortrea from $25.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 4th. Finally, Robert W. Baird set a $12.00 price objective on shares of Fortrea in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. According to MarketBeat.com, Fortrea has an average rating of “Hold” and an average target price of $19.00.

Fortrea Trading Up 0.8 %

Shares of FTRE stock opened at $9.66 on Friday. Fortrea Holdings Inc. has a 12 month low of $9.47 and a 12 month 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. The business’s 50 day moving average is $15.46 and its two-hundred day moving average is $18.48. The company has a market cap of $871.33 million, a PE ratio of -2.82, a price-to-earnings-growth ratio of 1.78 and a beta of 1.34.

Fortrea (NASDAQ:FTRE) last announced its quarterly earnings results on Monday, March 3rd. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.18). Fortrea had a negative net margin of 10.99% and a positive return on equity of 2.00%. The company had revenue of $697.00 million for the quarter, compared to analyst estimates of $703.22 million. During the same quarter last year, the business earned $0.19 EPS. Equities analysts predict that Fortrea Holdings Inc. will post 0.51 EPS for the current year.

Insider Buying and Selling at Fortrea

In other news, CEO Thomas Pike sold 11,268 shares of the firm’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $18.04, for a total value of $203,274.72. Following the sale, the chief executive officer now owns 159,868 shares in the company, valued at approximately $2,884,018.72. This trade represents a 6.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 13,029 shares of company stock worth $226,168 over the last 90 days. Insiders own 0.12% of the company’s stock.

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.