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Multiple insiders secured a larger position in Fortrea Holdings Inc. (NASDAQ:FTRE) shares over the last 12 months. This is reassuring as this suggests that insiders have increased optimism about the company's prospects.
While we would never suggest that investors should base their decisions solely on what the directors of a company have been doing, we do think it is perfectly logical to keep tabs on what insiders are doing.
See our latest analysis for Fortrea Holdings
The Last 12 Months Of Insider Transactions At Fortrea Holdings
In the last twelve months, the biggest single purchase by an insider was when CEO, President & Chairman Thomas Pike bought US$505k worth of shares at a price of US$25.23 per share. That means that even when the share price was higher than US$22.42 (the recent price), an insider wanted to purchase shares. It's very possible they regret the purchase, but it's more likely they are bullish about the company. In our view, the price an insider pays for shares is very important. It is generally more encouraging if they paid above the current price, as it suggests they saw value, even at higher levels.
While Fortrea Holdings insiders bought shares during the last year, they didn't sell. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!
There are always plenty of stocks that insiders are buying. If investing in lesser known companies is your style, you could take a look at this free list of companies. (Hint: insiders have been buying them).
Insiders At Fortrea Holdings Have Bought Stock Recently
Over the last quarter, Fortrea Holdings insiders have spent a meaningful amount on shares. In total, insiders bought US$299k worth of shares in that time, and we didn't record any sales whatsoever. This could be interpreted as suggesting a positive outlook.
Does Fortrea Holdings Boast High Insider Ownership?
For a common shareholder, it is worth checking how many shares are held by company insiders. We usually like to see fairly high levels of insider ownership. From our data, it seems that Fortrea Holdings insiders own 0.3% of the company, worth about US$5.4m. Overall, this level of ownership isn't that impressive, but it's certainly better than nothing!
So What Does This Data Suggest About Fortrea Holdings Insiders?
It is good to see recent purchasing. We also take confidence from the longer term picture of insider transactions. But we don't feel the same about the fact the company is making losses. On this analysis the only slight negative we see is the fairly low (overall) insider ownership; their transactions suggest that they are quite positive on Fortrea Holdings stock. Of course, the future is what matters most. So if you are interested in Fortrea Holdings, you should check out this free report on analyst forecasts for the company.