Nisa Investment Advisors LLC Reduces Holdings in FTI Consulting, Inc. (NYSE:FCN)

Nisa Investment Advisors LLC reduced its stake in shares of FTI Consulting, Inc. (NYSE:FCN) by 8.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 763 shares of the business services provider’s stock after selling 70 shares during the quarter. Nisa Investment Advisors LLC’s holdings in FTI Consulting were worth $125,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. HighTower Advisors LLC raised its holdings in shares of FTI Consulting by 8.7% in the fourth quarter. HighTower Advisors LLC now owns 3,256 shares of the business services provider’s stock valued at $622,000 after acquiring an additional 260 shares in the last quarter. Swiss National Bank raised its holdings in FTI Consulting by 1.3% in the fourth quarter. Swiss National Bank now owns 70,600 shares of the business services provider’s stock worth $13,494,000 after purchasing an additional 900 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in FTI Consulting by 4.3% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,159 shares of the business services provider’s stock worth $604,000 after purchasing an additional 131 shares in the last quarter. Corient Private Wealth LLC raised its holdings in FTI Consulting by 41.3% in the fourth quarter. Corient Private Wealth LLC now owns 4,395 shares of the business services provider’s stock worth $840,000 after purchasing an additional 1,284 shares in the last quarter. Finally, Axxcess Wealth Management LLC raised its holdings in FTI Consulting by 6.0% in the fourth quarter. Axxcess Wealth Management LLC now owns 1,820 shares of the business services provider’s stock worth $348,000 after purchasing an additional 103 shares in the last quarter. 99.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at FTI Consulting

In other news, CFO Ajay Sabherwal sold 5,236 shares of the firm’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $164.60, for a total transaction of $861,845.60. Following the sale, the chief financial officer owned 24,777 shares of the company’s stock, valued at approximately $4,078,294.20. This trade represents a 17.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.79% of the company’s stock.

Analysts Set New Price Targets

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

FTI Consulting Stock Performance

Shares of FTI Consulting stock opened at $166.34 on Friday. The business has a 50-day moving average of $163.70 and a 200 day moving average of $171.15. FTI Consulting, Inc. has a 12 month low of $151.75 and a 12 month high of $243.60. The stock has a market capitalization of $5.70 billion, a price-to-earnings ratio of 22.76 and a beta of 0.19. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.24 and a quick ratio of 2.24.

FTI Consulting (NYSE:FCN) last announced its earnings results on Thursday, April 24th. The business services provider reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.50. The company had revenue of $898.28 million during the quarter, compared to analysts’ expectations of $906.93 million. FTI Consulting had a return on equity of 13.07% and a net margin of 7.14%. FTI Consulting’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period last year, the business posted $2.23 EPS. As a group, sell-side analysts forecast that FTI Consulting, Inc. will post 8.55 earnings per share for the current year.

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

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.