Geode Capital Management LLC Raises Stake in FTI Consulting, Inc. (NYSE:FCN)

Geode Capital Management LLC lifted its stake in shares of FTI Consulting, Inc. (NYSE:FCN - Free Report) by 2.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 685,762 shares of the business services provider's stock after acquiring an additional 16,171 shares during the period. Geode Capital Management LLC owned approximately 1.91% of FTI Consulting worth $157,528,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Mawer Investment Management Ltd. grew its position in FTI Consulting by 3.2% during the third quarter. Mawer Investment Management Ltd. now owns 3,916,333 shares of the business services provider's stock valued at $891,201,000 after acquiring an additional 123,177 shares during the last quarter. State Street Corp grew its holdings in shares of FTI Consulting by 2.7% during the 3rd quarter. State Street Corp now owns 1,061,341 shares of the business services provider's stock valued at $241,519,000 after purchasing an additional 28,105 shares during the last quarter. Dimensional Fund Advisors LP raised its position in FTI Consulting by 6.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 692,044 shares of the business services provider's stock worth $149,164,000 after purchasing an additional 39,271 shares during the period. Stephens Investment Management Group LLC lifted its stake in FTI Consulting by 7.7% in the third quarter. Stephens Investment Management Group LLC now owns 475,036 shares of the business services provider's stock worth $108,099,000 after purchasing an additional 34,144 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in FTI Consulting by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 430,776 shares of the business services provider's stock valued at $98,027,000 after buying an additional 7,804 shares during the period. 99.36% of the stock is currently owned by hedge funds and other institutional investors.

FTI Consulting Price Performance

FCN traded down $2.34 during trading on Tuesday, hitting $196.85. 230,363 shares of the stock traded hands, compared to its average volume of 179,628. The firm has a 50-day moving average of $206.69 and a 200 day moving average of $215.49. FTI Consulting, Inc. has a 12-month low of $185.93 and a 12-month high of $243.60. The firm has a market capitalization of $7.08 billion, a P/E ratio of 22.62 and a beta of 0.12.

FTI Consulting (NYSE:FCN - Get Free Report) last posted its earnings results on Thursday, October 24th. The business services provider reported $1.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.06 by ($0.21). The business had revenue of $926.00 million during the quarter, compared to the consensus estimate of $946.16 million. FTI Consulting had a return on equity of 14.79% and a net margin of 8.37%. The firm's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.34 earnings per share. As a group, equities analysts predict that FTI Consulting, Inc. will post 8.1 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. StockNews.com upgraded FTI Consulting from a "hold" rating to a "buy" rating in a report on Saturday, November 2nd. Truist Financial lifted their price target on FTI Consulting from $255.00 to $275.00 and gave the stock a "buy" rating in a research note on Wednesday, September 25th.

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.