BNP Paribas Financial Markets Trims Stake in FTI Consulting, Inc. (NYSE:FCN)

BNP Paribas Financial Markets lowered its stake in FTI Consulting, Inc. (NYSE:FCN) by 26.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,594 shares of the business services provider’s stock after selling 2,410 shares during the period. BNP Paribas Financial Markets’ holdings in FTI Consulting were worth $1,260,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GeoWealth Management LLC grew its stake in shares of FTI Consulting by 46.0% in 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 during the last quarter. Jones Financial Companies Lllp grew 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 worth $47,000 after buying an additional 197 shares during the last quarter. UMB Bank n.a. grew its stake in shares of FTI Consulting by 59.6% in 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. Quarry LP grew its stake in shares of FTI Consulting by 115.4% in the 4th quarter. Quarry LP now owns 349 shares of the business services provider’s stock worth $67,000 after buying an additional 187 shares during the last quarter. Finally, Covestor Ltd grew its stake in shares of FTI Consulting by 23.1% in the 4th quarter. Covestor Ltd now owns 708 shares of the business services provider’s stock worth $135,000 after buying an additional 133 shares during the last quarter. Hedge funds and other institutional investors own 99.36% of the company’s stock.

Insider Buying and Selling

In related news, CFO Ajay Sabherwal sold 5,236 shares of the firm’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 directly owns 24,777 shares of the company’s stock, valued at approximately $4,078,294.20. This trade represents a 17.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.51% of the stock is owned by insiders.

FTI Consulting Trading Up 0.5%

FCN stock opened at $167.62 on Tuesday. The stock’s 50 day simple moving average is $163.31 and its 200 day simple moving average is $181.44. The stock has a market capitalization of $5.75 billion, a PE ratio of 21.49 and a beta of 0.18. FTI Consulting, Inc. has a 12-month low of $151.75 and a 12-month high of $243.60.

FTI Consulting (NYSE:FCN) last released its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.29 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.50. The firm had revenue of $898.28 million for 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%. The company’s revenue was down 3.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.23 EPS. On average, research analysts predict that FTI Consulting, Inc. will post 8.55 earnings per share for the current year.

FTI Consulting announced that its Board of Directors has initiated a share buyback program 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 stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FCN. Truist Financial downgraded 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 research note on Wednesday, April 2nd. StockNews.com cut FTI Consulting from a “buy” rating to a “hold” rating in a research report on Thursday, April 3rd. William Blair reaffirmed an “outperform” rating on shares of FTI Consulting in a research report on Friday, April 25th. Finally, The Goldman Sachs Group lowered their price objective on FTI Consulting from $194.00 to $173.00 and set a “neutral” rating on the stock in a research report on Friday, February 21st.

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.