NewEdge Wealth LLC raised its position in FTI Consulting, Inc. (NYSE:FCN) by 9.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 18,700 shares of the business services provider’s stock after purchasing an additional 1,668 shares during the period. NewEdge Wealth LLC’s holdings in FTI Consulting were worth $2,555,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently modified their holdings of FCN. Van ECK Associates Corp acquired a new position in FTI Consulting in the 1st quarter valued at $26,000. US Bancorp DE grew its holdings in shares of FTI Consulting by 39.3% during the 2nd quarter. US Bancorp DE now owns 528 shares of the business services provider’s stock worth $71,000 after purchasing an additional 149 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of FTI Consulting by 70.9% during the 2nd quarter. Parallel Advisors LLC now owns 540 shares of the business services provider’s stock worth $74,000 after purchasing an additional 224 shares in the last quarter. Group One Trading L.P. acquired a new stake in shares of FTI Consulting during the 1st quarter worth $84,000. Finally, Arkadios Wealth Advisors acquired a new stake in shares of FTI Consulting during the 2nd quarter worth $84,000.
In other FTI Consulting news, Director Brenda J. Bacon sold 7,500 shares of the stock in a transaction dated Monday, August 2nd. The stock was sold at an average price of $144.26, for a total value of $1,081,950.00. Following the completion of the transaction, the director now directly owns 16,248 shares in the company, valued at $2,343,936.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.32% of the stock is currently owned by company insiders.
FTI Consulting (NYSE:FCN) last announced its quarterly earnings data on Thursday, July 29th. The business services provider reported $1.74 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.22. FTI Consulting had a return on equity of 16.75% and a net margin of 8.81%. The business had revenue of $711.49 million during the quarter, compared to the consensus estimate of $644.50 million. Sell-side analysts predict that FTI Consulting, Inc. will post 6.3 EPS for the current fiscal year.
Separately, Zacks Investment Research lowered FTI Consulting from a “buy” rating to a “hold” rating and set a $144.00 target price on the stock. in a report on Wednesday, June 23rd.
FTI Consulting Company Profile
FTI Consulting, Inc engages in the provision of financial, legal, operational, political and regulatory, reputational and transactional advisory services. It operates through the following segments: Corporate Finance and Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology, and Strategic Communications.
Further Reading: What is a capital gain?
Want to see what other hedge funds are holding FCN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FTI Consulting, Inc. (NYSE:FCN).
Receive News & Ratings for FTI Consulting Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FTI Consulting and related companies with MarketBeat.com's FREE daily email newsletter.