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

GAMMA Investing LLC lessened its stake in FTI Consulting, Inc. (NYSE:FCN) by 51.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 240 shares of the business services provider’s stock after selling 250 shares during the quarter. GAMMA Investing LLC’s holdings in FTI Consulting were worth $39,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mawer Investment Management Ltd. increased its stake in FTI Consulting by 3.8% during the 4th quarter. Mawer Investment Management Ltd. now owns 4,065,609 shares of the business services provider’s stock worth $777,060,000 after buying an additional 149,276 shares during the period. Vanguard Group Inc. increased its stake in FTI Consulting by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 3,564,322 shares of the business services provider’s stock worth $681,249,000 after buying an additional 23,419 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in FTI Consulting by 86.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,018,868 shares of the business services provider’s stock worth $194,737,000 after buying an additional 472,245 shares during the period. Alliancebernstein L.P. increased its stake in FTI Consulting by 9.3% during the 4th quarter. Alliancebernstein L.P. now owns 740,858 shares of the business services provider’s stock worth $141,600,000 after buying an additional 63,163 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in FTI Consulting by 3.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 701,033 shares of the business services provider’s stock worth $133,987,000 after buying an additional 23,784 shares during the period. Institutional investors and hedge funds own 99.36% of the company’s stock.

FTI Consulting Price Performance

FCN opened at $164.76 on Friday. The company has a 50-day moving average of $163.79 and a 200-day moving average of $172.11. The company has a market capitalization of $5.65 billion, a P/E ratio of 22.54 and a beta of 0.19. FTI Consulting, Inc. has a 1-year low of $151.75 and a 1-year high of $243.60. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.24 and a current ratio of 2.24.

FTI Consulting (NYSE:FCN) last released its 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 net margin of 7.14% and a return on equity of 13.07%. The company’s revenue was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.23 EPS. Equities analysts expect that FTI Consulting, Inc. will post 8.55 EPS for the current fiscal year.

FTI Consulting announced that its Board of Directors has authorized a share repurchase plan on Thursday, April 24th that allows the company to buyback $400.00 million in shares. This buyback authorization allows the business services provider to buy up to 6.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at FTI Consulting

In other news, CFO Ajay Sabherwal sold 5,236 shares of the business’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 completion of the sale, the chief financial officer owned 24,777 shares of the company’s stock, valued at approximately $4,078,294.20. The trade was a 17.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.79% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on FCN. William Blair reaffirmed an “outperform” rating on shares of FTI Consulting in a research note on Friday, April 25th. Wall Street Zen downgraded shares of FTI Consulting from a “buy” rating to a “hold” rating in a research note on Thursday, April 3rd. Finally, Truist Financial downgraded shares of FTI Consulting from a “buy” rating to a “hold” rating and dropped their price target for the stock from $225.00 to $178.00 in a research note on Wednesday, April 2nd.

FTI Consulting 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.