MetLife Investment Management LLC increased its stake in FTI Consulting, Inc. (NYSE:FCN - Free Report) by 9.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,910 shares of the business services provider's stock after purchasing an additional 1,676 shares during the period. MetLife Investment Management LLC owned approximately 0.06% of FTI Consulting worth $3,805,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new position in FTI Consulting during the third quarter worth $35,000. GeoWealth Management LLC lifted its position in FTI Consulting by 46.0% during the 4th quarter. GeoWealth Management LLC now owns 181 shares of the business services provider's stock worth $35,000 after buying an additional 57 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of FTI Consulting by 394.0% during the 4th quarter. Jones Financial Companies Lllp now owns 247 shares of the business services provider's stock worth $47,000 after buying an additional 197 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of FTI Consulting by 59.6% during the 4th quarter. UMB Bank n.a. now owns 265 shares of the business services provider's stock worth $51,000 after buying an additional 99 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of FTI Consulting by 51.4% in the 4th quarter. Versant Capital Management Inc now owns 471 shares of the business services provider's stock valued at $90,000 after acquiring an additional 160 shares in the last quarter. 99.36% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several analysts recently issued reports on FCN shares. The Goldman Sachs Group dropped their target price on FTI Consulting from $194.00 to $173.00 and set a "neutral" rating on the stock in a report on Friday, February 21st. StockNews.com downgraded FTI Consulting from a "buy" rating to a "hold" rating in a report on Thursday, April 3rd. Truist Financial cut shares of FTI Consulting from a "buy" rating to a "hold" rating and decreased their target price for the company from $225.00 to $178.00 in a research note on Wednesday, April 2nd. Finally, William Blair reaffirmed an "outperform" rating on shares of FTI Consulting in a research report on Friday.
Check Out Our Latest Stock Report on FTI Consulting
FTI Consulting Price Performance
NYSE FCN traded down $0.23 during trading on Monday, reaching $162.45. 570,595 shares of the company's stock were exchanged, compared to its average volume of 234,779. FTI Consulting, Inc. has a fifty-two week low of $151.75 and a fifty-two week high of $243.60. The stock has a market capitalization of $5.75 billion, a P/E ratio of 20.83 and a beta of 0.21. The business has a 50 day moving average price of $163.40 and a 200-day moving average price of $186.62.
FTI Consulting (NYSE:FCN - Get Free Report) last posted its earnings results on Thursday, April 24th. The business services provider reported $2.29 earnings per share for the quarter, topping analysts' consensus estimates of $1.79 by $0.50. FTI Consulting had a return on equity of 13.15% and a net margin of 7.57%. The business had revenue of $898.28 million for the quarter, compared to analyst estimates of $906.93 million. During the same period in the previous year, the firm earned $2.23 EPS. The firm's revenue was down 3.3% compared to the same quarter last year. On average, analysts forecast that FTI Consulting, Inc. will post 8.55 earnings per share for the current year.
FTI Consulting announced that its Board of Directors has approved a stock repurchase program on Thursday, April 24th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the business services provider to reacquire up to 6.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its stock is undervalued.
FTI Consulting Profile
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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.
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