California Public Employees Retirement System decreased its stake in FTI Consulting, Inc. (NYSE:FCN) by 3.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 109,592 shares of the business services provider’s stock after selling 3,800 shares during the period. California Public Employees Retirement System owned about 0.27% of FTI Consulting worth $4,512,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in FCN. Comerica Bank increased its stake in FTI Consulting by 2.2% in the first quarter. Comerica Bank now owns 31,792 shares of the business services provider’s stock valued at $1,130,000 after buying an additional 687 shares in the last quarter. Airain ltd acquired a new stake in FTI Consulting during the first quarter valued at about $898,000. Meadow Creek Investment Management LLC increased 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 valued at $105,000 after buying an additional 504 shares in the last quarter. Chicago Equity Partners LLC increased its stake in FTI Consulting by 129.6% in the first quarter. Chicago Equity Partners LLC now owns 64,595 shares of the business services provider’s stock valued at $2,659,000 after buying an additional 36,460 shares in the last quarter. Finally, Alambic Investment Management L.P. increased its stake in FTI Consulting by 41.8% in the first quarter. Alambic Investment Management L.P. now owns 11,200 shares of the business services provider’s stock valued at $461,000 after buying an additional 3,300 shares in the last quarter. Institutional investors own 96.09% of the company’s stock.
FTI Consulting, Inc. (FCN) traded up 1.72% on Tuesday, hitting $33.18. 449,936 shares of the stock were exchanged. The company has a market cap of $1.31 billion, a P/E ratio of 36.30 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 company’s 50 day moving average price is $33.64 and its 200-day moving average price is $37.74.
FTI Consulting (NYSE:FCN) last released its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.53 by $0.13. FTI Consulting had a net margin of 2.13% and a return on equity of 5.18%. The business had revenue of $447.70 million during the quarter, compared to the consensus estimate of $455.55 million. During the same period in the prior year, the firm earned $0.66 earnings per share. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. Equities research analysts predict that FTI Consulting, Inc. will post $1.87 EPS for the current fiscal year.
FTI Consulting announced that its Board of Directors has approved a share buyback program 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 programs are usually an indication that the company’s leadership believes its shares are undervalued.
Several equities research analysts have issued reports on FCN shares. Zacks Investment Research downgraded shares of FTI Consulting from a “hold” rating to a “sell” rating in a research note on Tuesday, April 18th. Deutsche Bank AG reduced their target price on shares of FTI Consulting from $47.00 to $38.00 and set a “hold” rating on the stock in a research report on Friday, April 28th. Finally, BidaskClub cut shares of FTI Consulting from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The stock presently 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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