Insider Selling: Fortrea (NASDAQ:FTRE) CFO Sells 881 Shares of Stock

Fortrea Holdings Inc. (NASDAQ:FTRE) CFO Jill Mcconnell sold 881 shares of Fortrea stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $13.88, for a total transaction of $12,228.28. Following the transaction, the chief financial officer owned 59,574 shares in the company, valued at $826,887.12. The trade was a 1.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Fortrea Stock Down 15.2%

NASDAQ:FTRE traded down $2.08 during mid-day trading on Wednesday, hitting $11.59. The company had a trading volume of 2,825,615 shares, compared to its average volume of 1,301,866. The business has a fifty day simple moving average of $16.38 and a 200-day simple moving average of $12.01. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -1.03, a PEG ratio of 0.40 and a beta of 1.59. 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 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.81.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on FTRE shares. Barclays set a $15.00 price objective on shares of Fortrea and gave the company an “equal weight” rating in a research note on Monday, December 15th. Truist Financial set a $22.00 price target on shares of Fortrea and gave the stock a “buy” rating in a research note on Thursday, January 8th. Evercore set a $25.00 price objective on shares of Fortrea and gave the stock an “outperform” rating in a report on Tuesday, January 6th. Robert W. Baird set a $19.00 target price on Fortrea in a research note on Wednesday, January 14th. Finally, Zacks Research cut Fortrea from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Four analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Fortrea currently has an average rating of “Hold” and a consensus target price of $16.75.

Institutional Trading of Fortrea

Several hedge funds have recently made changes to their positions in the stock. Sanctuary Advisors LLC increased its holdings in shares of Fortrea by 1.7% in the fourth quarter. Sanctuary Advisors LLC now owns 36,648 shares of the company’s stock valued at $632,000 after buying an additional 627 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in Fortrea by 3.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 21,166 shares of the company’s stock worth $365,000 after acquiring an additional 700 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Fortrea by 27.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,490 shares of the company’s stock worth $77,000 after purchasing an additional 980 shares during the period. Amalgamated Bank grew its position in Fortrea by 4.0% during the third quarter. Amalgamated Bank now owns 26,688 shares of the company’s stock valued at $225,000 after purchasing an additional 1,026 shares in the last quarter. Finally, Larson Financial Group LLC grew its position in Fortrea by 136.7% during 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 in the last quarter.

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.