FTI Consulting, Inc. (NYSE:FCN) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC increased its holdings in shares of FTI Consulting, Inc. (NYSE:FCN) by 7,936.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,379 shares of the business services provider’s stock after purchasing an additional 38,889 shares during the quarter. GAMMA Investing LLC owned 0.11% of FTI Consulting worth $6,461,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. GeoWealth Management LLC boosted 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 valued at $35,000 after buying an additional 57 shares during the period. Jones Financial Companies Lllp increased its holdings in shares of FTI Consulting by 394.0% in the fourth quarter. Jones Financial Companies Lllp now owns 247 shares of the business services provider’s stock valued at $47,000 after purchasing an additional 197 shares during the period. Quarry LP increased its holdings in shares of FTI Consulting by 115.4% in the fourth quarter. Quarry LP now owns 349 shares of the business services provider’s stock valued at $67,000 after purchasing an additional 187 shares during the period. Covestor Ltd grew its holdings in 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 acquiring an additional 133 shares during the period. Finally, Venturi Wealth Management LLC grew its holdings in FTI Consulting by 127.5% during the fourth quarter. Venturi Wealth Management LLC now owns 762 shares of the business services provider’s stock worth $146,000 after acquiring an additional 427 shares during the period. 99.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Transactions at FTI Consulting

In related news, CFO Ajay Sabherwal sold 5,236 shares of the company’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $164.60, for a total transaction 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. The trade was a 17.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.51% of the stock is owned by insiders.

FTI Consulting Price Performance

NYSE:FCN opened at $160.03 on Tuesday. FTI Consulting, Inc. has a 12-month low of $151.75 and a 12-month high of $243.60. The firm has a market capitalization of $5.49 billion, a P/E ratio of 20.52 and a beta of 0.19. The business has a 50 day simple moving average of $163.83 and a 200 day simple moving average of $177.74.

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

FTI Consulting declared that its board has authorized a stock repurchase plan on Thursday, April 24th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the business services provider to purchase up to 6.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

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.