Fortrea Holdings Inc. (NASDAQ:FTRE) Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC lowered its stake in shares of Fortrea Holdings Inc. (NASDAQ:FTRE) by 2.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 34,670 shares of the company’s stock after selling 817 shares during the quarter. Yousif Capital Management LLC’s holdings in Fortrea were worth $647,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in FTRE. Hara Capital LLC acquired a new position in Fortrea in the third quarter worth $29,000. Covestor Ltd boosted its holdings in 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 during the period. Raleigh Capital Management Inc. acquired a new position in Fortrea in the third quarter worth $57,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Fortrea by 21.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,241 shares of the company’s stock worth $64,000 after purchasing an additional 572 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Fortrea by 26.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 9,087 shares of the company’s stock worth $182,000 after purchasing an additional 1,917 shares during the period.

Insider Activity at Fortrea

In related news, CEO Thomas Pike sold 11,268 shares of Fortrea stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $18.04, for a total transaction of $203,274.72. Following the sale, the chief executive officer now directly owns 159,868 shares in the company, valued at $2,884,018.72. The trade was a 6.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 12,386 shares of company stock worth $219,751 over the last ninety days. 0.12% of the stock is currently owned by corporate insiders.

Fortrea Price Performance

Shares of NASDAQ FTRE opened at $14.97 on Monday. Fortrea Holdings Inc. has a fifty-two week low of $14.27 and a fifty-two week high of $41.02. The firm’s 50-day simple moving average is $17.99 and its 200 day simple moving average is $19.85. 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 stock has a market cap of $1.34 billion, a P/E ratio of -4.38, a P/E/G ratio of 1.76 and a beta of 1.20.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on FTRE shares. Baird R W downgraded shares of Fortrea from a “strong-buy” rating to a “hold” rating in a report on Friday, December 6th. William Blair reaffirmed a “market perform” rating on shares of Fortrea in a report on Friday, November 8th. Robert W. Baird downgraded shares of Fortrea from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $28.00 to $25.00 in a report on Friday, December 6th. Citigroup downgraded shares of Fortrea from a “buy” rating to a “neutral” rating and reduced their price target for the company from $30.00 to $23.00 in a report on Wednesday, December 11th. Finally, TD Cowen boosted their price target on shares of Fortrea from $23.00 to $25.00 and gave the company a “hold” rating in a report on Monday, November 11th. One analyst has rated the stock with a sell rating and eleven have assigned a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price 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.