Two Sigma Investments LP Acquires New Stake in FTI Consulting, Inc. (NYSE:FCN)

Two Sigma Investments LP bought a new stake in FTI Consulting, Inc. (NYSE:FCN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,311 shares of the business services provider’s stock, valued at approximately $442,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CIBC Asset Management Inc raised its stake in shares of FTI Consulting by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 1,083 shares of the business services provider’s stock worth $207,000 after buying an additional 55 shares during the last quarter. GeoWealth Management LLC raised its stake in shares of 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 during the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of FTI Consulting by 3.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 2,389 shares of the business services provider’s stock worth $457,000 after buying an additional 89 shares during the last quarter. Axxcess Wealth Management LLC raised its stake in shares of FTI Consulting by 6.0% during the 4th quarter. Axxcess Wealth Management LLC now owns 1,820 shares of the business services provider’s stock worth $348,000 after buying an additional 103 shares during the last quarter. Finally, Argent Trust Co raised its stake in shares of FTI Consulting by 8.9% during the 4th quarter. Argent Trust Co now owns 1,254 shares of the business services provider’s stock worth $240,000 after buying an additional 103 shares during the last quarter. Institutional investors and hedge funds own 99.36% of the company’s stock.

Insider Transactions at FTI Consulting

In related 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 sale, the chief financial officer now owns 24,777 shares of the company’s stock, valued at $4,078,294.20. The trade was a 17.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.51% of the stock is owned by insiders.

FTI Consulting Price Performance

FCN opened at $160.03 on Tuesday. The company has a market capitalization of $5.49 billion, a PE ratio of 20.52 and a beta of 0.19. The business has a 50-day moving average of $163.83 and a 200-day moving average of $177.74. FTI Consulting, Inc. has a fifty-two week low of $151.75 and a fifty-two week high of $243.60.

FTI Consulting (NYSE:FCN) last released its earnings results on Thursday, April 24th. The business services provider reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.50. The firm had revenue of $898.28 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm posted $2.23 EPS. On average, equities research analysts expect that FTI Consulting, Inc. will post 8.55 earnings per share for the current fiscal year.

FTI Consulting declared that its board has authorized a stock repurchase plan 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 buy up to 6.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FCN. William Blair reissued an “outperform” rating on shares of FTI Consulting in a research note on Friday, April 25th. Truist Financial cut FTI Consulting from a “buy” rating to a “hold” rating and decreased their price target for the stock from $225.00 to $178.00 in a report on Wednesday, April 2nd. The Goldman Sachs Group cut their target price 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. Finally, Wall Street Zen lowered FTI Consulting from a “buy” rating to a “hold” rating in a research report on Thursday, April 3rd.

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.