First Trust Advisors LP decreased its stake in shares of FTI Consulting, Inc. (NYSE:FCN - Free Report) by 2.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 64,627 shares of the business services provider's stock after selling 1,742 shares during the quarter. First Trust Advisors LP owned about 0.18% of FTI Consulting worth $12,352,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the stock. Mawer Investment Management Ltd. raised its position in shares of FTI Consulting by 3.8% in the 4th quarter. Mawer Investment Management Ltd. now owns 4,065,609 shares of the business services provider's stock worth $777,060,000 after purchasing an additional 149,276 shares during the last quarter. Vanguard Group Inc. raised its holdings in FTI Consulting by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 3,564,322 shares of the business services provider's stock worth $681,249,000 after buying an additional 23,419 shares during the last quarter. Alliancebernstein L.P. lifted its stake in shares of FTI Consulting by 9.3% in the fourth quarter. Alliancebernstein L.P. now owns 740,858 shares of the business services provider's stock worth $141,600,000 after buying an additional 63,163 shares in the last quarter. Black Creek Investment Management Inc. increased its position in shares of FTI Consulting by 166.1% during the fourth quarter. Black Creek Investment Management Inc. now owns 652,980 shares of the business services provider's stock valued at $124,804,000 after acquiring an additional 407,631 shares in the last quarter. Finally, Pacer Advisors Inc. raised its holdings in FTI Consulting by 9,995.1% in the 4th quarter. Pacer Advisors Inc. now owns 518,687 shares of the business services provider's stock worth $99,137,000 after acquiring an additional 513,549 shares during the last quarter. 99.36% of the stock is owned by institutional investors.
FTI Consulting Price Performance
Shares of FCN opened at $162.75 on Monday. FTI Consulting, Inc. has a one year low of $151.75 and a one year high of $243.60. The business has a fifty day moving average of $163.96 and a 200 day moving average of $187.04. The firm has a market capitalization of $5.76 billion, a P/E ratio of 20.87 and a beta of 0.21.
FTI Consulting (NYSE:FCN - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.29 EPS for the quarter, beating the consensus estimate of $1.79 by $0.50. The firm had revenue of $898.28 million during the quarter, compared to analyst estimates of $906.93 million. FTI Consulting had a net margin of 7.57% and a return on equity of 13.15%. Analysts expect that FTI Consulting, Inc. will post 8.55 EPS for the current fiscal year.
FTI Consulting declared that its Board of Directors has authorized a stock buyback program on Thursday, April 24th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the business services provider to reacquire up to 6.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its stock is undervalued.
Analyst Ratings Changes
Several analysts have commented on the company. William Blair reiterated an "outperform" rating on shares of FTI Consulting in a research note on Friday. The Goldman Sachs Group reduced their price objective on FTI Consulting from $194.00 to $173.00 and set a "neutral" rating for the company in a report on Friday, February 21st. StockNews.com cut shares of FTI Consulting from a "buy" rating to a "hold" rating in a research note on Thursday, April 3rd. Finally, Truist Financial lowered shares of FTI Consulting from a "buy" rating to a "hold" rating and reduced their price target for the stock from $225.00 to $178.00 in a research note on Wednesday, April 2nd.
Read Our Latest Analysis on FCN
About FTI Consulting
(
Free Report)
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.
Further Reading
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