Allianz Asset Management GmbH Has $314,000 Stock Position in FTI Consulting, Inc. (NYSE:FCN)

Allianz Asset Management GmbH decreased its stake in FTI Consulting, Inc. (NYSE:FCN) by 76.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,916 shares of the business services provider’s stock after selling 6,324 shares during the quarter. Allianz Asset Management GmbH’s holdings in FTI Consulting were worth $314,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. boosted its position in shares of FTI Consulting by 0.4% in the 1st quarter. Principal Financial Group Inc. now owns 81,271 shares of the business services provider’s stock valued at $13,335,000 after purchasing an additional 302 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in FTI Consulting during the 1st quarter worth about $30,000. Black Diamond Financial LLC acquired a new stake in FTI Consulting during the 1st quarter worth about $328,000. GAMMA Investing LLC boosted its position in FTI Consulting by 7,936.5% during the 1st quarter. GAMMA Investing LLC now owns 39,379 shares of the business services provider’s stock worth $6,461,000 after acquiring an additional 38,889 shares during the period. Finally, Two Sigma Investments LP acquired a new stake in FTI Consulting during the 4th quarter worth about $442,000. Institutional investors and hedge funds own 99.36% of the company’s stock.

FTI Consulting Trading Down 0.5%

Shares of NYSE FCN opened at $165.51 on Monday. FTI Consulting, Inc. has a one year low of $151.75 and a one year high of $231.65. The firm has a market capitalization of $5.36 billion, a PE ratio of 23.31 and a beta of 0.18. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.25. The business has a 50-day moving average price of $164.29 and a two-hundred day moving average price of $168.96.

FTI Consulting (NYSE:FCN) last posted its quarterly earnings results on Thursday, July 24th. The business services provider reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.26. FTI Consulting had a return on equity of 12.88% and a net margin of 6.82%. The company had revenue of $943.66 million during the quarter, compared to the consensus estimate of $928.38 million. During the same period last year, the business earned $2.34 EPS. The business’s quarterly revenue was down .6% on a year-over-year basis. As a group, analysts predict that FTI Consulting, Inc. will post 8.55 earnings per share for the current fiscal year.

FTI Consulting announced that its board has authorized a share buyback program on Thursday, April 24th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the business services provider to repurchase up to 6.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Separately, William Blair restated an “outperform” rating on shares of FTI Consulting in a research report on Friday, April 25th.

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.