FTI Consulting, Inc. $FCN Stock Position Cut by Black Creek Investment Management Inc.

Black Creek Investment Management Inc. cut its stake in shares of FTI Consulting, Inc. (NYSE:FCN) by 15.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 697,890 shares of the business services provider’s stock after selling 131,273 shares during the period. FTI Consulting comprises approximately 5.2% of Black Creek Investment Management Inc.’s holdings, making the stock its 9th largest position. Black Creek Investment Management Inc. owned approximately 2.16% of FTI Consulting worth $112,709,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of FCN. Signaturefd LLC boosted its stake in shares of FTI Consulting by 65.3% in the 1st quarter. Signaturefd LLC now owns 205 shares of the business services provider’s stock worth $34,000 after buying an additional 81 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its position in FTI Consulting by 57.1% in the first quarter. Y Intercept Hong Kong Ltd now owns 7,894 shares of the business services provider’s stock worth $1,295,000 after purchasing an additional 2,868 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in FTI Consulting in the first quarter worth about $2,096,000. KLP Kapitalforvaltning AS grew its stake in shares of FTI Consulting by 19.3% during the 1st quarter. KLP Kapitalforvaltning AS now owns 10,500 shares of the business services provider’s stock valued at $1,723,000 after purchasing an additional 1,700 shares during the period. Finally, Oak Thistle LLC increased its position in shares of FTI Consulting by 221.9% during the 1st quarter. Oak Thistle LLC now owns 9,415 shares of the business services provider’s stock valued at $1,545,000 after purchasing an additional 6,490 shares during the last quarter. 99.36% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Steven Henry Gunby bought 7,500 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The stock was bought at an average price of $151.12 per share, with a total value of $1,133,400.00. Following the acquisition, the chief executive officer owned 294,007 shares of the company’s stock, valued at approximately $44,430,337.84. This represents a 2.62% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.79% of the company’s stock.

Analyst Ratings Changes

FCN has been the topic of a number of research reports. Weiss Ratings reissued a “hold (c-)” rating on shares of FTI Consulting in a report on Wednesday, October 8th. Truist Financial decreased their price target on shares of FTI Consulting from $178.00 to $165.00 and set a “hold” rating on the stock in a research report on Thursday, October 23rd. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $169.00.

FTI Consulting Trading Down 2.2%

Shares of NYSE:FCN opened at $161.36 on Tuesday. The stock has a 50 day moving average of $161.62 and a 200 day moving average of $164.17. The company has a market cap of $4.98 billion, a PE ratio of 20.56 and a beta of 0.14. FTI Consulting, Inc. has a 12-month low of $149.31 and a 12-month high of $208.28. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.29.

FTI Consulting (NYSE:FCN) last issued its quarterly earnings results on Thursday, October 23rd. The business services provider reported $2.60 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.67. The business had revenue of $956.17 million for the quarter, compared to the consensus estimate of $941.19 million. FTI Consulting had a net margin of 7.20% and a return on equity of 14.49%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.85 earnings per share. FTI Consulting has set its FY 2025 guidance at 8.200-8.70 EPS. As a group, 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 approved a stock buyback plan on Tuesday, October 21st that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the business services provider to purchase up to 9.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are 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.