Wealth Enhancement Advisory Services LLC Decreases Holdings in FTI Consulting, Inc. (NYSE:FCN)

Wealth Enhancement Advisory Services LLC lowered its position in FTI Consulting, Inc. (NYSE:FCN) by 38.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,453 shares of the business services provider’s stock after selling 1,523 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in FTI Consulting were worth $469,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of FCN. GeoWealth Management LLC boosted its position in FTI Consulting by 46.0% during the fourth quarter. GeoWealth Management LLC now owns 181 shares of the business services provider’s stock worth $35,000 after purchasing an additional 57 shares in the last quarter. Jones Financial Companies Lllp raised 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. Quarry LP boosted its position 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 in the last quarter. Covestor Ltd boosted its position 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 in the last quarter. Finally, Venturi Wealth Management LLC grew its stake in FTI Consulting by 127.5% in the 4th quarter. Venturi Wealth Management LLC now owns 762 shares of the business services provider’s stock valued at $146,000 after acquiring an additional 427 shares during the last quarter. 99.36% of the stock is owned by hedge funds and other institutional investors.

FTI Consulting Trading Up 1.6%

NYSE:FCN opened at $162.34 on Friday. The firm has a market cap of $5.57 billion, a price-to-earnings ratio of 20.81 and a beta of 0.19. The company’s 50-day moving average is $163.98 and its two-hundred day moving average is $177.20. FTI Consulting, Inc. has a 12-month low of $151.75 and a 12-month high of $243.60.

FTI Consulting (NYSE:FCN) last posted its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.50. The business had revenue of $898.28 million during the quarter, compared to analyst estimates of $906.93 million. FTI Consulting had a net margin of 7.57% and a return on equity of 13.15%. The company’s revenue was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.23 earnings per share. On average, equities research analysts forecast that FTI Consulting, Inc. will post 8.55 earnings per share for the current fiscal year.

FTI Consulting announced that its board has approved a share repurchase program on Thursday, April 24th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the business services provider to purchase up to 6.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

FCN has been the subject of several recent research reports. William Blair restated an “outperform” rating on shares of FTI Consulting in a report on Friday, April 25th. Wall Street Zen lowered shares of 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 for the company in a research report on Friday, February 21st. Finally, Truist Financial lowered FTI Consulting from a “buy” rating to a “hold” rating and reduced their target price for the company from $225.00 to $178.00 in a research note on Wednesday, April 2nd.

Insider Activity

In related news, CFO Ajay Sabherwal sold 5,236 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $164.60, for a total value of $861,845.60. Following the completion of the sale, the chief financial officer now directly owns 24,777 shares in the company, 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 can be accessed through the SEC website. Company insiders own 2.51% of the company’s stock.

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.