Fred Alger Management Inc. decreased its position in shares of FTI Consulting, Inc. (NYSE:FCN) by 30.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,854 shares of the business services provider’s stock after selling 26,194 shares during the quarter. Fred Alger Management Inc.’s holdings in FTI Consulting were worth $2,528,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Koch Industries Inc. bought a new stake in shares of FTI Consulting during the fourth quarter valued at approximately $416,000. AXA grew its holdings in FTI Consulting by 35.5% during the fourth quarter. AXA now owns 199,300 shares of the business services provider’s stock worth $8,562,000 after buying an additional 52,200 shares in the last quarter. Alliancebernstein L.P. grew its holdings in FTI Consulting by 58.2% during the fourth quarter. Alliancebernstein L.P. now owns 95,516 shares of the business services provider’s stock worth $4,103,000 after buying an additional 35,140 shares in the last quarter. Lazard Asset Management LLC grew its holdings in FTI Consulting by 3.7% during the fourth quarter. Lazard Asset Management LLC now owns 347,919 shares of the business services provider’s stock worth $14,946,000 after buying an additional 12,355 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its holdings in FTI Consulting by 109.0% during the fourth quarter. Allianz Asset Management GmbH now owns 176,680 shares of the business services provider’s stock worth $7,591,000 after buying an additional 92,151 shares in the last quarter. Hedge funds and other institutional investors own 98.71% of the company’s stock.
In related news, CAO Catherine M. Freeman sold 6,088 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $48.44, for a total transaction of $294,902.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.33% of the company’s stock.
Shares of FTI Consulting, Inc. (FCN) opened at $48.93 on Tuesday. FTI Consulting, Inc. has a 1-year low of $31.65 and a 1-year high of $50.81. The stock has a market capitalization of $1,851.66, a price-to-earnings ratio of 21.05 and a beta of 0.25. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 0.33.
FTI Consulting (NYSE:FCN) last announced its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.28. FTI Consulting had a return on equity of 7.80% and a net margin of 5.97%. The business had revenue of $467.71 million during the quarter, compared to the consensus estimate of $450.52 million. During the same quarter in the prior year, the company posted $0.24 earnings per share. FTI Consulting’s revenue was up 5.8% compared to the same quarter last year. analysts forecast that FTI Consulting, Inc. will post 2.53 EPS for the current fiscal year.
FTI Consulting announced that its Board of Directors has initiated a stock buyback program on Monday, December 4th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
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FTI Consulting 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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