TD Asset Management Inc Cuts Stake in FTI Consulting, Inc. (NYSE:FCN)

TD Asset Management Inc decreased its holdings in FTI Consulting, Inc. (NYSE:FCN) by 52.1% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,100 shares of the business services provider’s stock after selling 11,000 shares during the period. TD Asset Management Inc’s holdings in FTI Consulting were worth $1,657,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its position in FTI Consulting by 0.4% during 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 buying an additional 302 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in FTI Consulting during the 1st quarter valued at $30,000. Black Diamond Financial LLC purchased a new stake in FTI Consulting during the 1st quarter valued at $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 valued at $6,461,000 after buying an additional 38,889 shares during the period. Finally, Two Sigma Investments LP purchased a new stake in FTI Consulting during the 4th quarter valued at $442,000. Hedge funds and other institutional investors own 99.36% of the company’s stock.

FTI Consulting Trading Down 0.5%

Shares of FCN opened at $165.51 on Monday. The stock has a market capitalization of $5.36 billion, a P/E ratio of 23.31 and a beta of 0.18. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.25. The firm has a fifty day simple moving average of $164.29 and a two-hundred day simple moving average of $168.96. FTI Consulting, Inc. has a twelve month low of $151.75 and a twelve month high of $231.65.

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

FTI Consulting declared that its Board of Directors has approved a stock buyback program on Thursday, April 24th that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the business services provider to purchase up to 6.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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

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.