Bank of America Corp DE Has $19.61 Million Stock Holdings in FTI Consulting, Inc. (NYSE:FCN)

Bank of America Corp DE reduced its holdings in FTI Consulting, Inc. (NYSE:FCN) by 14.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 102,619 shares of the business services provider’s stock after selling 17,921 shares during the quarter. Bank of America Corp DE owned approximately 0.29% of FTI Consulting worth $19,614,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. CIBC Asset Management Inc raised its position in shares of FTI Consulting by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 1,083 shares of the business services provider’s stock worth $207,000 after acquiring an additional 55 shares during the last quarter. GeoWealth Management LLC increased 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 valued at $35,000 after purchasing an additional 57 shares during the period. Exchange Traded Concepts LLC raised its stake in FTI Consulting by 2.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 3,435 shares of the business services provider’s stock worth $657,000 after buying an additional 85 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in FTI Consulting by 3.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 2,389 shares of the business services provider’s stock valued at $457,000 after buying an additional 89 shares during the period. Finally, UMB Bank n.a. boosted its position 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 valued at $51,000 after acquiring an additional 99 shares during the last quarter. Institutional investors own 99.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. The Goldman Sachs Group dropped their price objective on FTI Consulting from $194.00 to $173.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Truist Financial cut FTI Consulting from a “buy” rating to a “hold” rating and cut their price target for the stock from $225.00 to $178.00 in a report on Wednesday, April 2nd. StockNews.com downgraded shares of FTI Consulting from a “buy” rating to a “hold” rating in a research report on Thursday, April 3rd. Finally, William Blair restated an “outperform” rating on shares of FTI Consulting in a report on Friday, April 25th.

FTI Consulting Trading Up 0.5%

FCN opened at $167.62 on Tuesday. 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 $5.75 billion, a price-to-earnings ratio of 21.49 and a beta of 0.18. The company’s fifty day moving average price is $163.31 and its two-hundred day moving average price is $181.44.

FTI Consulting (NYSE:FCN) last issued its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.29 EPS 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 firm had revenue of $898.28 million during the quarter, compared to analyst estimates of $906.93 million. During the same period in the previous year, the company posted $2.23 EPS. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. As a group, equities analysts forecast that FTI Consulting, Inc. will post 8.55 earnings per share for the current fiscal year.

FTI Consulting declared that its Board of Directors has authorized a share buyback program on Thursday, April 24th that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to purchase up to 6.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insider Transactions at FTI Consulting

In other FTI Consulting news, CFO Ajay Sabherwal sold 5,236 shares of the business’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $164.60, for a total value of $861,845.60. Following the transaction, the chief financial officer now owns 24,777 shares of the company’s stock, valued at approximately $4,078,294.20. The trade was a 17.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.51% of the company’s stock.

FTI Consulting Company 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.