Dark Forest Capital Management LP Acquires New Shares in FTI Consulting, Inc. (NYSE:FCN)

Dark Forest Capital Management LP acquired a new position in shares of FTI Consulting, Inc. (NYSE:FCN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,833 shares of the business services provider's stock, valued at approximately $924,000.

A number of other large investors have also recently made changes to their positions in FCN. Hsbc Holdings PLC boosted its holdings in FTI Consulting by 56.5% during the 4th quarter. Hsbc Holdings PLC now owns 8,739 shares of the business services provider's stock worth $1,664,000 after acquiring an additional 3,156 shares during the last quarter. Stifel Financial Corp raised its stake in shares of FTI Consulting by 0.9% during the 4th quarter. Stifel Financial Corp now owns 60,630 shares of the business services provider's stock worth $11,588,000 after purchasing an additional 535 shares during the period. OneDigital Investment Advisors LLC grew its position in shares of FTI Consulting by 3.2% during the 4th quarter. OneDigital Investment Advisors LLC now owns 6,937 shares of the business services provider's stock valued at $1,326,000 after acquiring an additional 213 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of FTI Consulting by 6.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,687 shares of the business services provider's stock worth $322,000 after purchasing an additional 104 shares during the period. Finally, MetLife Investment Management LLC grew its holdings in FTI Consulting by 9.2% during the fourth quarter. MetLife Investment Management LLC now owns 19,910 shares of the business services provider's stock valued at $3,805,000 after purchasing an additional 1,676 shares during the period. 99.36% of the stock is owned by institutional investors.

FTI Consulting Stock Performance

NYSE:FCN traded up $0.84 during trading hours on Friday, reaching $162.75. The company's stock had a trading volume of 663,054 shares, compared to its average volume of 233,431. The firm has a market capitalization of $5.76 billion, a price-to-earnings ratio of 20.87 and a beta of 0.21. The firm has a 50-day simple moving average of $163.96 and a 200-day simple moving average of $187.28. FTI Consulting, Inc. has a 1 year low of $151.75 and a 1 year high of $243.60.

FTI Consulting (NYSE:FCN - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.29 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.50. The company had revenue of $898.28 million for the quarter, compared to analysts' expectations of $906.93 million. FTI Consulting had a return on equity of 13.15% and a net margin of 7.57%. Equities analysts anticipate that FTI Consulting, Inc. will post 8.55 earnings per share for the current fiscal year.

FTI Consulting declared that its board has initiated a stock buyback plan on Thursday, April 24th that allows the company to buyback $400.00 million in shares. This buyback authorization allows the business services provider to purchase up to 6.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages recently commented on FCN. William Blair restated an "outperform" rating on shares of FTI Consulting in a research note on Friday. StockNews.com lowered FTI Consulting from a "buy" rating to a "hold" rating in a research note on Thursday, April 3rd. Truist Financial downgraded FTI Consulting from a "buy" rating to a "hold" rating and cut their target price for the stock from $225.00 to $178.00 in a research note on Wednesday, April 2nd. Finally, The Goldman Sachs Group lowered their price target on shares of FTI Consulting from $194.00 to $173.00 and set a "neutral" rating on the stock in a report on Friday, February 21st.

About FTI Consulting

FTI Consulting, Inc provides business advisory services to manage change, mitigate risk, and resolve disputes worldwide. The company operates through Corporate Finance & Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology, and Strategic Communications segments. The Corporate Finance & Restructuring segment provides business transformation and strategy, transactions, and turnaround and restructuring services.