Yousif Capital Management LLC Sells 321 Shares of FTI Consulting, Inc. (NYSE:FCN)

Yousif Capital Management LLC trimmed its position in FTI Consulting, Inc. (NYSE:FCN) by 2.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,407 shares of the business services provider’s stock after selling 321 shares during the quarter. Yousif Capital Management LLC’s holdings in FTI Consulting were worth $2,036,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GeoWealth Management LLC grew its holdings in shares of FTI Consulting by 46.0% in the fourth quarter. GeoWealth Management LLC now owns 181 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 57 shares in the last quarter. Jones Financial Companies Lllp increased its stake in shares of FTI Consulting by 394.0% during the fourth quarter. Jones Financial Companies Lllp now owns 247 shares of the business services provider’s stock valued at $47,000 after buying an additional 197 shares during the period. Quarry LP increased its stake in shares of FTI Consulting by 115.4% during the fourth quarter. Quarry LP now owns 349 shares of the business services provider’s stock valued at $67,000 after buying an additional 187 shares during the period. Curat Global LLC purchased a new position in FTI Consulting in the first quarter valued at about $89,000. Finally, Covestor Ltd grew its stake in shares of 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 last quarter. 99.36% of the stock is owned by hedge funds and other institutional investors.

FTI Consulting Price Performance

FCN opened at $161.02 on Monday. The business has a 50 day simple moving average of $164.15 and a 200-day simple moving average of $176.53. The stock has a market capitalization of $5.52 billion, a P/E ratio of 20.64 and a beta of 0.19. 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, topping the consensus estimate of $1.79 by $0.50. The company had revenue of $898.28 million during the quarter, compared to the consensus estimate of $906.93 million. FTI Consulting had a return on equity of 13.15% and a net margin of 7.57%. FTI Consulting’s revenue was down 3.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.23 earnings per share. Research analysts anticipate that FTI Consulting, Inc. will post 8.55 EPS for the current year.

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

Insider Activity

In other news, CFO Ajay Sabherwal sold 5,236 shares of the company’s stock in a transaction dated Thursday, May 1st. The stock was 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 owns 24,777 shares of the company’s stock, valued at $4,078,294.20. This represents a 17.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.79% of the company’s stock.

Analysts Set New Price Targets

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

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.