FTI Consulting, Inc. (FCN) Shares Bought by Teachers Advisors LLC
Teachers Advisors LLC raised its position in shares of FTI Consulting, Inc. (NYSE:FCN) by 3.4% during the first quarter, Holdings Channel reports. The institutional investor owned 70,559 shares of the business services provider’s stock after buying an additional 2,344 shares during the period. Teachers Advisors LLC’s holdings in FTI Consulting were worth $2,905,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its position in FTI Consulting by 11.5% in the first quarter. Victory Capital Management Inc. now owns 1,512,299 shares of the business services provider’s stock worth $62,262,000 after buying an additional 155,667 shares in the last quarter. JPMorgan Chase & Co. boosted its position in FTI Consulting by 6.7% in the first quarter. JPMorgan Chase & Co. now owns 785,257 shares of the business services provider’s stock worth $32,329,000 after buying an additional 49,425 shares in the last quarter. Bank of New York Mellon Corp boosted its position in FTI Consulting by 39.6% in the first quarter. Bank of New York Mellon Corp now owns 672,947 shares of the business services provider’s stock worth $27,705,000 after buying an additional 190,942 shares in the last quarter. Parametric Portfolio Associates LLC boosted its position in FTI Consulting by 538.3% in the first quarter. Parametric Portfolio Associates LLC now owns 514,577 shares of the business services provider’s stock worth $21,185,000 after buying an additional 433,956 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in FTI Consulting by 26.3% in the first quarter. American Century Companies Inc. now owns 319,294 shares of the business services provider’s stock worth $13,145,000 after buying an additional 66,514 shares in the last quarter. 97.45% of the stock is owned by institutional investors and hedge funds.
FTI Consulting, Inc. (NYSE FCN) traded up 0.76% on Monday, hitting $33.23. The company had a trading volume of 4,125 shares. The firm has a market capitalization of $1.31 billion, a PE ratio of 36.36 and a beta of 0.28. FTI Consulting, Inc. has a 12-month low of $31.65 and a 12-month high of $47.12. The firm has a 50-day moving average price of $33.48 and a 200-day moving average price of $37.43.
FTI Consulting (NYSE:FCN) last posted its earnings results on Thursday, July 27th. The business services provider reported $0.40 EPS for the quarter, missing the consensus estimate of $0.53 by $0.13. The firm had revenue of $447.70 million during the quarter, compared to the consensus estimate of $455.55 million. FTI Consulting had a negative net margin of 1.16% and a negative return on equity of 1.77%. FTI Consulting’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.66 earnings per share. On average, equities research analysts anticipate that FTI Consulting, Inc. will post $1.87 earnings per share for the current fiscal year.
FTI Consulting declared that its board has approved 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 repurchase up to 7.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.
FCN has been the subject of a number of research analyst reports. Zacks Investment Research cut FTI Consulting from a “hold” rating to a “sell” rating in a report on Friday, July 28th. BidaskClub cut FTI Consulting from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Finally, Deutsche Bank AG cut their price target on FTI Consulting from $47.00 to $38.00 and set a “hold” rating for the company in a report on Friday, April 28th. Two analysts have rated the stock with a sell rating and three have given a hold rating to the stock. FTI Consulting presently has a consensus 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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