Teachers Retirement System of The State of Kentucky Lowers Position in FTI Consulting, Inc. (FCN)
Teachers Retirement System of The State of Kentucky lowered its stake in shares of FTI Consulting, Inc. (NYSE:FCN) by 11.4% during the first quarter, Holdings Channel reports. The fund owned 7,350 shares of the business services provider’s stock after selling 950 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in FTI Consulting were worth $303,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in FCN. Teachers Advisors LLC boosted its stake in shares of FTI Consulting by 1.7% in the fourth quarter. Teachers Advisors LLC now owns 68,215 shares of the business services provider’s stock valued at $3,075,000 after buying an additional 1,135 shares during the last quarter. Capstone Asset Management Co. boosted its stake in shares of FTI Consulting by 5.0% in the first quarter. Capstone Asset Management Co. now owns 5,676 shares of the business services provider’s stock valued at $234,000 after buying an additional 270 shares during the last quarter. Alpha Windward LLC boosted its stake in shares of FTI Consulting by 7.2% in the first quarter. Alpha Windward LLC now owns 11,580 shares of the business services provider’s stock valued at $477,000 after buying an additional 780 shares during the last quarter. LGT Capital Partners LTD. boosted its stake in shares of FTI Consulting by 8.3% in the first quarter. LGT Capital Partners LTD. now owns 65,000 shares of the business services provider’s stock valued at $2,676,000 after buying an additional 5,000 shares during the last quarter. Finally, First Citizens Bank & Trust Co. purchased a new stake in shares of FTI Consulting during the first quarter valued at about $293,000. Hedge funds and other institutional investors own 96.09% of the company’s stock.
Shares of FTI Consulting, Inc. (NYSE FCN) traded up 0.497% during mid-day trading on Wednesday, hitting $33.345. The stock had a trading volume of 62,205 shares. FTI Consulting, Inc. has a one year low of $31.65 and a one year high of $47.12. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 36.482 and a beta of 0.28. The firm has a 50 day moving average of $33.64 and a 200 day moving average of $37.74.
FTI Consulting (NYSE:FCN) last released its earnings results on Thursday, July 27th. The business services provider reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by $0.13. FTI Consulting had a return on equity of 5.18% and a net margin of 2.13%. The business had revenue of $447.70 million for the quarter, compared to analyst estimates of $455.55 million. During the same period in the prior year, the firm posted $0.66 EPS. FTI Consulting’s revenue was down 2.7% on a year-over-year basis. On average, analysts forecast that FTI Consulting, Inc. will post $1.87 earnings per share for the current year.
FTI Consulting declared that its Board of Directors has initiated a stock repurchase plan on Friday, May 19th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the business services provider to buy up to 7.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.
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Several analysts have issued reports on FCN shares. Zacks Investment Research cut FTI Consulting from a “hold” rating to a “sell” rating in a research note on Tuesday, April 18th. Deutsche Bank AG cut their price objective on FTI Consulting from $47.00 to $38.00 and set a “hold” rating on the stock in a research note on Friday, April 28th. Finally, BidaskClub cut FTI Consulting from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The company has an average rating of “Hold” and a consensus target price of $43.00.
FTI Consulting Company Profile
FTI Consulting, Inc is a business advisory company. The Company operates through five segments: Corporate Finance & Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology and Strategic Communications. The Company provides advice and services, such as restructuring (including bankruptcy), capital formation and indebtedness, interim business management, performance improvements, forensic accounting and litigation matters, international arbitrations, mergers and acquisitions (M&A), antitrust and competition matters, securities litigation, electronic discovery (or e-discovery), management and retrieval of electronically stored information (ESI), reputation management and strategic communications.
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