MUFG Securities EMEA plc Sells 342,000 Shares of Fortrea Holdings Inc. $FTRE

MUFG Securities EMEA plc lessened its stake in Fortrea Holdings Inc. (NASDAQ:FTRE) by 70.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 145,000 shares of the company’s stock after selling 342,000 shares during the quarter. MUFG Securities EMEA plc’s holdings in Fortrea were worth $2,501,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Larson Financial Group LLC increased its holdings in Fortrea by 136.7% in the fourth quarter. Larson Financial Group LLC now owns 1,856 shares of the company’s stock valued at $32,000 after purchasing an additional 1,072 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Fortrea by 27.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,490 shares of the company’s stock valued at $77,000 after purchasing an additional 980 shares during the last quarter. Allworth Financial LP increased its holdings in Fortrea by 19.6% in the third quarter. Allworth Financial LP now owns 6,769 shares of the company’s stock valued at $57,000 after purchasing an additional 1,109 shares during the last quarter. Osaic Holdings Inc. increased its holdings in Fortrea by 74.3% in the second quarter. Osaic Holdings Inc. now owns 6,844 shares of the company’s stock valued at $38,000 after purchasing an additional 2,918 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in Fortrea by 37.9% in the third quarter. Public Employees Retirement System of Ohio now owns 8,386 shares of the company’s stock valued at $71,000 after purchasing an additional 2,303 shares during the last quarter.

Fortrea Stock Up 2.4%

NASDAQ:FTRE opened at $15.76 on Tuesday. Fortrea Holdings Inc. has a 1 year low of $3.97 and a 1 year high of $18.67. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.98. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of -3.21, a PEG ratio of 0.47 and a beta of 1.92. The stock has a 50-day moving average price of $11.61 and a two-hundred day moving average price of $13.00.

Fortrea (NASDAQ:FTRE) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.13. The company had revenue of $636.50 million during the quarter, compared to analysts’ expectations of $628.51 million. Fortrea had a positive return on equity of 9.51% and a negative net margin of 16.50%. As a group, equities analysts expect that Fortrea Holdings Inc. will post 0.8 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently commented on FTRE. Robert W. Baird set a $20.00 price objective on Fortrea in a report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $14.00 target price on shares of Fortrea in a research note on Thursday, May 7th. TD Cowen reissued a “buy” rating on shares of Fortrea in a research note on Wednesday, May 6th. Mizuho boosted their target price on Fortrea from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Fortrea in a research note on Tuesday, April 21st. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Fortrea has a consensus rating of “Hold” and an average price target of $17.25.

Insider Buying and Selling at Fortrea

In other news, CFO Jill G. Mcconnell sold 5,061 shares of the company’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $9.07, for a total transaction of $45,903.27. Following the completion of the transaction, the chief financial officer directly owned 69,796 shares of the company’s stock, valued at $633,049.72. This represents a 6.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 8,792 shares of company stock worth $80,014 over the last ninety days. 0.38% of the stock is owned by corporate insiders.

About Fortrea

Fortrea, Inc is a global contract development and manufacturing organization (CDMO) that provides integrated solutions for pharmaceutical and biotechnology companies. Established as a spin-off from Thermo Fisher Scientific’s Pharma Services business in October 2023, Fortrea leverages a legacy of scientific expertise and manufacturing scale to support drug development from early-stage research through commercial production. The company’s comprehensive offerings address the complex needs of both small-molecule and biologics programs, making it a single source for clients seeking to accelerate timelines and manage costs.

Fortrea’s core services encompass analytical and formulation development, process optimization, clinical and commercial manufacturing, and packaging services.