M&T Bank Corp Sells 7,125 Shares of FTI Consulting, Inc. (NYSE:FCN)

M&T Bank Corp lowered its position in FTI Consulting, Inc. (NYSE:FCN) by 53.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,317 shares of the business services provider’s stock after selling 7,125 shares during the quarter. M&T Bank Corp’s holdings in FTI Consulting were worth $1,037,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. bought a new position in FTI Consulting in the 1st quarter valued at $30,000. 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 worth $35,000 after purchasing an additional 57 shares during the last quarter. Jones Financial Companies Lllp increased its stake in FTI Consulting by 394.0% in 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 period. Quarry LP lifted its holdings in FTI Consulting by 115.4% during the 4th quarter. Quarry LP now owns 349 shares of the business services provider’s stock valued at $67,000 after buying an additional 187 shares in the last quarter. Finally, Curat Global LLC purchased a new stake in FTI Consulting in the 1st quarter valued at about $89,000. Institutional investors own 99.36% of the company’s stock.

FTI Consulting Price Performance

Shares of FCN opened at $167.11 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.24 and a current ratio of 2.24. The company has a 50 day moving average price of $163.74 and a 200-day moving average price of $171.59. FTI Consulting, Inc. has a fifty-two week low of $151.75 and a fifty-two week high of $243.60. The stock has a market capitalization of $5.73 billion, a PE ratio of 22.86 and a beta of 0.19.

FTI Consulting (NYSE:FCN) last issued its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.29 EPS for the quarter, topping analysts’ consensus estimates 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%. FTI Consulting’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.23 earnings per share. Equities analysts predict that FTI Consulting, Inc. will post 8.55 earnings per share for the current fiscal year.

FTI Consulting announced that its Board of Directors has approved a stock 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 stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, CFO Ajay Sabherwal sold 5,236 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $164.60, for a total transaction 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 $4,078,294.20. This represents a 17.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.79% of the stock is currently owned by insiders.

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.