UMB Bank n.a. Sells 88 Shares of FTI Consulting, Inc. (NYSE:FCN)

UMB Bank n.a. decreased its stake in shares of FTI Consulting, Inc. (NYSE:FCN) by 33.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 177 shares of the business services provider’s stock after selling 88 shares during the period. UMB Bank n.a.’s holdings in FTI Consulting were worth $29,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in FCN. CIBC Asset Management Inc grew its position in FTI Consulting by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 1,083 shares of the business services provider’s stock valued at $207,000 after purchasing an additional 55 shares in the last quarter. GeoWealth Management LLC grew its position 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 acquiring an additional 57 shares during the period. Sequoia Financial Advisors LLC grew its position in shares of FTI Consulting by 3.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 2,389 shares of the business services provider’s stock valued at $457,000 after acquiring an additional 89 shares during the period. Axxcess Wealth Management LLC grew its position in shares of FTI Consulting by 6.0% in the 4th quarter. Axxcess Wealth Management LLC now owns 1,820 shares of the business services provider’s stock valued at $348,000 after acquiring an additional 103 shares during the period. Finally, Argent Trust Co grew its position in shares of FTI Consulting by 8.9% in the 4th quarter. Argent Trust Co now owns 1,254 shares of the business services provider’s stock valued at $240,000 after acquiring an additional 103 shares during the period. Institutional investors own 99.36% of the company’s stock.

FTI Consulting Stock Performance

NYSE FCN opened at $161.02 on Monday. The firm has a 50-day moving average of $164.15 and a 200-day moving average of $176.53. The stock has a market cap of $5.52 billion, a PE ratio of 20.64 and a beta of 0.19. FTI Consulting, Inc. has a 52-week low of $151.75 and a 52-week high of $243.60.

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

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

Insiders Place Their Bets

In other FTI Consulting news, CFO Ajay Sabherwal sold 5,236 shares of the firm’s stock in a transaction dated Thursday, May 1st. The shares were 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 $4,078,294.20. This trade represents a 17.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.79% of the company’s stock.

Analyst Ratings Changes

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