Empowered Funds LLC bought a new stake in shares of FTI Consulting, Inc. (NYSE:FCN) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,145 shares of the business services provider’s stock, valued at approximately $1,162,000.
Several other institutional investors also recently added to or reduced their stakes in FCN. Norges Bank purchased a new stake in shares of FTI Consulting during the 4th quarter valued at approximately $84,600,000. Victory Capital Management Inc. lifted its stake in shares of FTI Consulting by 101.8% during the 1st quarter. Victory Capital Management Inc. now owns 1,457,470 shares of the business services provider’s stock valued at $174,561,000 after buying an additional 735,227 shares in the last quarter. Capital International Investors lifted its stake in shares of FTI Consulting by 77.7% during the 1st quarter. Capital International Investors now owns 386,200 shares of the business services provider’s stock valued at $46,255,000 after buying an additional 168,900 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of FTI Consulting by 225.3% during the 1st quarter. AQR Capital Management LLC now owns 217,056 shares of the business services provider’s stock valued at $25,547,000 after buying an additional 150,325 shares in the last quarter. Finally, Artemis Investment Management LLP purchased a new stake in shares of FTI Consulting during the 1st quarter valued at approximately $12,510,000. 98.00% of the stock is owned by hedge funds and other institutional investors.
NYSE FCN opened at $112.89 on Friday. FTI Consulting, Inc. has a 1 year low of $92.43 and a 1 year high of $144.10. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.36 and a quick ratio of 2.36. The stock has a market capitalization of $4.19 billion, a PE ratio of 19.84 and a beta of 0.24. The company’s 50 day simple moving average is $112.42 and its two-hundred day simple moving average is $118.71.
FTI Consulting (NYSE:FCN) last posted its earnings results on Thursday, April 30th. The business services provider reported $1.53 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.54 by ($0.01). FTI Consulting had a return on equity of 14.89% and a net margin of 8.76%. The firm had revenue of $604.59 million during the quarter, compared to analysts’ expectations of $603.42 million. During the same quarter in the prior year, the company earned $1.63 earnings per share. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, research analysts anticipate that FTI Consulting, Inc. will post 5.54 EPS for the current year.
A number of analysts recently commented on the stock. Sidoti upgraded shares of FTI Consulting from a “neutral” rating to a “buy” rating and upped their price target for the company from $152.00 to $171.00 in a research note on Friday, May 1st. William Blair upgraded shares of FTI Consulting from a “market perform” rating to an “outperform” rating in a research note on Monday, April 6th. Finally, Zacks Investment Research cut shares of FTI Consulting from a “hold” rating to a “sell” rating and set a $122.00 target price on the stock. in a research note on Monday, June 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. FTI Consulting has an average rating of “Hold” and an average target price of $149.33.
In other news, Director Vernon James Ellis sold 3,000 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $120.00, for a total transaction of $360,000.00. Following the sale, the director now owns 8,267 shares in the company, valued at approximately $992,040. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.19% of the company’s stock.
FTI Consulting Company Profile
FTI Consulting, Inc provides business advisory services to manage change, mitigate risk, and resolve disputes worldwide. The company's Corporate Finance & Restructuring segment provides turnaround and restructuring, business transformation, interim management, valuation and financial advisory, transaction, dispute advisory, and tax services, as well as mergers and acquisitions (M&A), and M&A integration services.
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