Maryland State Retirement & Pension System Trims Position in FTI Consulting, Inc. $FCN

Maryland State Retirement & Pension System trimmed its position in FTI Consulting, Inc. (NYSE:FCN) by 18.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,644 shares of the business services provider’s stock after selling 366 shares during the period. Maryland State Retirement & Pension System’s holdings in FTI Consulting were worth $270,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. grew its position in 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 buying an additional 302 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in FTI Consulting during the first quarter worth about $30,000. Black Diamond Financial LLC purchased a new position in FTI Consulting during the first quarter worth about $328,000. GAMMA Investing LLC raised its holdings in FTI Consulting by 7,936.5% during the first quarter. GAMMA Investing LLC now owns 39,379 shares of the business services provider’s stock worth $6,461,000 after purchasing an additional 38,889 shares in the last quarter. Finally, Two Sigma Investments LP purchased a new position in FTI Consulting during the fourth quarter worth about $442,000. 99.36% of the stock is currently owned by hedge funds and other institutional investors.

FTI Consulting Trading Up 1.5%

NYSE FCN opened at $167.97 on Tuesday. The stock has a market capitalization of $5.44 billion, a P/E ratio of 23.66 and a beta of 0.18. FTI Consulting, Inc. has a 52-week low of $151.75 and a 52-week high of $231.65. The firm has a 50-day moving average price of $165.11 and a 200 day moving average price of $166.91. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.25.

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

FTI Consulting declared that its Board of Directors has initiated a share buyback plan on Thursday, April 24th that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the business services provider to repurchase up to 6.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Separately, William Blair reissued an “outperform” rating on shares of FTI Consulting in a 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.