FTI Consulting, Inc. (FCN) Shares Bought by LS Investment Advisors LLC
LS Investment Advisors LLC raised its position in FTI Consulting, Inc. (NYSE:FCN) by 17.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,307 shares of the business services provider’s stock after buying an additional 491 shares during the period. LS Investment Advisors LLC’s holdings in FTI Consulting were worth $116,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the company. Meeder Asset Management Inc. raised its stake in FTI Consulting by 0.6% in the second quarter. Meeder Asset Management Inc. now owns 17,087 shares of the business services provider’s stock worth $598,000 after buying an additional 98 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in FTI Consulting by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 14,771 shares of the business services provider’s stock worth $608,000 after buying an additional 200 shares in the last quarter. Capstone Asset Management Co. raised its stake in 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 worth $234,000 after buying an additional 270 shares in the last quarter. Meadow Creek Investment Management LLC raised its stake in FTI Consulting by 24.7% in the first quarter. Meadow Creek Investment Management LLC now owns 2,548 shares of the business services provider’s stock worth $105,000 after buying an additional 504 shares in the last quarter. Finally, Wedge Capital Management L L P NC raised its stake in FTI Consulting by 8.5% in the first quarter. Wedge Capital Management L L P NC now owns 6,593 shares of the business services provider’s stock worth $271,000 after buying an additional 517 shares in the last quarter. 96.09% of the stock is currently owned by institutional investors.
FTI Consulting, Inc. (NYSE FCN) traded down 0.03% on Friday, hitting $32.98. The company had a trading volume of 430,021 shares. The company has a market capitalization of $1.30 billion, a P/E ratio of 36.08 and a beta of 0.28. FTI Consulting, Inc. has a one year low of $31.65 and a one year high of $47.12. The stock’s 50-day moving average price is $33.48 and its 200 day moving average price is $37.43.
FTI Consulting (NYSE:FCN) last announced its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by $0.13. The business had revenue of $447.70 million during the quarter, compared to analyst estimates of $455.55 million. FTI Consulting had a net margin of 2.13% and a return on equity of 5.18%. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 earnings per share. On average, analysts expect that FTI Consulting, Inc. will post $1.87 EPS for the current fiscal year.
FTI Consulting declared that its board has authorized a share repurchase program on Friday, May 19th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the business services provider to repurchase up to 7.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.
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A number of equities research analysts have recently commented on the company. BidaskClub raised FTI Consulting from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. Zacks Investment Research lowered FTI Consulting from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Finally, Deutsche Bank AG dropped their price target on FTI Consulting from $47.00 to $38.00 and set a “hold” rating on the stock in a research report on Friday, April 28th. Two analysts have rated the stock with a sell rating and three have given a hold rating to the company. FTI Consulting currently has an average rating of “Hold” and an average price target of $43.00.
About FTI Consulting
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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