Ausbil Investment Management Ltd Has $3.88 Million Stake in Fortrea Holdings Inc. $FTRE

Ausbil Investment Management Ltd raised its position in shares of Fortrea Holdings Inc. (NASDAQ:FTRE) by 587.2% in the fourth quarter, Holdings Channel reports. The fund owned 224,713 shares of the company’s stock after buying an additional 192,015 shares during the quarter. Fortrea comprises approximately 2.2% of Ausbil Investment Management Ltd’s investment portfolio, making the stock its 19th biggest holding. Ausbil Investment Management Ltd’s holdings in Fortrea were worth $3,876,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Amalgamated Bank boosted its stake in Fortrea by 4.0% during the 3rd quarter. Amalgamated Bank now owns 26,688 shares of the company’s stock valued at $225,000 after purchasing an additional 1,026 shares during the period. Allworth Financial LP increased its position in Fortrea by 19.6% in the 3rd quarter. Allworth Financial LP now owns 6,769 shares of the company’s stock worth $57,000 after buying an additional 1,109 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Fortrea by 8.2% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 23,235 shares of the company’s stock worth $115,000 after buying an additional 1,769 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of Fortrea by 214.3% during the third quarter. Nisa Investment Advisors LLC now owns 3,341 shares of the company’s stock worth $28,000 after buying an additional 2,278 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its position in shares of 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 acquiring an additional 2,303 shares during the period.

Insider Buying and Selling

In other Fortrea news, CFO Jill G. Mcconnell sold 5,061 shares of Fortrea stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $9.07, for a total transaction of $45,903.27. Following the sale, the chief financial officer directly owned 69,796 shares of the company’s stock, valued at approximately $633,049.72. The trade was a 6.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 9,673 shares of company stock worth $92,242 in the last three months. 0.38% of the stock is owned by company insiders.

Fortrea Trading Up 1.2%

Shares of Fortrea stock opened at $9.55 on Friday. Fortrea Holdings Inc. has a 52-week low of $3.97 and a 52-week high of $18.67. The firm has a market capitalization of $892.93 million, a PE ratio of -0.88, a price-to-earnings-growth ratio of 0.34 and a beta of 1.80. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.98 and a quick ratio of 0.98. The company’s fifty day moving average price is $12.22 and its two-hundred day moving average price is $12.40.

Fortrea (NASDAQ:FTRE) last issued its earnings results on Thursday, February 26th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.07). Fortrea had a negative net margin of 36.21% and a positive return on equity of 6.23%. The business had revenue of $660.50 million for the quarter, compared to analyst estimates of $665.22 million. On average, analysts expect that Fortrea Holdings Inc. will post 0.51 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on FTRE shares. Wedbush set a $21.00 price objective on shares of Fortrea in a research note on Thursday, December 11th. Citigroup raised shares of Fortrea from a “neutral” rating to a “buy” rating and increased their price target for the company from $12.00 to $21.00 in a report on Thursday, December 11th. TD Cowen upgraded shares of Fortrea from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Monday, March 9th. Barclays dropped their price objective on shares of Fortrea from $15.00 to $12.00 and set an “equal weight” rating on the stock in a report on Friday, February 27th. Finally, Evercore set a $25.00 price objective on shares of Fortrea and gave the company an “outperform” rating in a research report on Tuesday, January 6th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $16.15.

Fortrea Company Profile

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.