Fortrea shares are trading higher after a 13F filing showed Starboard Value has a 8.7% stake in the company.
Portfolio Pulse from Benzinga Newsdesk
Fortrea's shares are trading higher after a 13F filing revealed that Starboard Value has acquired an 8.7% stake in the company.
October 17, 2023 | 12:51 pm
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POSITIVE IMPACT
Fortrea's stock price has increased following the news of Starboard Value's 8.7% stake acquisition.
The acquisition of a significant stake by Starboard Value, a well-known investment firm, is seen as a vote of confidence in Fortrea. This has led to increased demand for the company's shares, driving up the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100