Mariner LLC Cuts Stock Position in FTI Consulting, Inc. (NYSE:FCN)

Mariner LLC trimmed its position in FTI Consulting, Inc. (NYSE:FCN - Free Report) by 33.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,037 shares of the business services provider's stock after selling 2,576 shares during the period. Mariner LLC's holdings in FTI Consulting were worth $963,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new stake in FTI Consulting in the 3rd quarter valued at about $35,000. Jones Financial Companies Lllp raised its stake in shares of FTI Consulting by 394.0% in the 4th quarter. Jones Financial Companies Lllp now owns 247 shares of the business services provider's stock valued at $47,000 after acquiring an additional 197 shares during the period. UMB Bank n.a. lifted its stake in FTI Consulting by 59.6% during the fourth quarter. UMB Bank n.a. now owns 265 shares of the business services provider's stock worth $51,000 after purchasing an additional 99 shares in the last quarter. Versant Capital Management Inc lifted its stake in FTI Consulting by 51.4% during the 4th quarter. Versant Capital Management Inc now owns 471 shares of the business services provider's stock worth $90,000 after acquiring an additional 160 shares in the last quarter. Finally, Covestor Ltd lifted its position in shares of FTI Consulting by 23.1% during the fourth quarter. Covestor Ltd now owns 708 shares of the business services provider's stock worth $135,000 after purchasing an additional 133 shares in the last quarter. 99.36% of the stock is currently owned by hedge funds and other institutional investors.

FTI Consulting Price Performance

Shares of NYSE FCN opened at $162.75 on Monday. FTI Consulting, Inc. has a 1-year low of $151.75 and a 1-year high of $243.60. The company has a market cap of $5.76 billion, a PE ratio of 20.87 and a beta of 0.21. The stock has a fifty day moving average price of $163.96 and a 200 day moving average price of $187.04.

FTI Consulting (NYSE:FCN - Get Free Report) last posted 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 business had revenue of $898.28 million during 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%. Analysts anticipate that FTI Consulting, Inc. will post 8.55 earnings per share for the current fiscal year.

FTI Consulting announced that its Board of Directors has approved a share buyback plan on Thursday, April 24th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the business services provider to buy up to 6.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Truist Financial cut FTI Consulting from a "buy" rating to a "hold" rating and reduced their price objective for the company from $225.00 to $178.00 in a research note on Wednesday, April 2nd. The Goldman Sachs Group reduced their price objective on shares of FTI Consulting from $194.00 to $173.00 and set a "neutral" rating for the company in a research report on Friday, February 21st. William Blair restated an "outperform" rating on shares of FTI Consulting in a research note on Friday. Finally, StockNews.com cut shares of FTI Consulting from a "buy" rating to a "hold" rating in a report on Thursday, April 3rd.

FTI Consulting Profile

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.

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