Rhumbline Advisers increased its holdings in shares of FTI Consulting, Inc. (NYSE:FCN) by 12.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 93,825 shares of the business services provider’s stock after acquiring an additional 10,753 shares during the period. Rhumbline Advisers’ holdings in FTI Consulting were worth $4,031,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FCN. Public Employees Retirement System of Ohio grew its stake in FTI Consulting by 12.8% during the second quarter. Public Employees Retirement System of Ohio now owns 4,698 shares of the business services provider’s stock worth $164,000 after purchasing an additional 533 shares during the period. First Trust Advisors LP grew its stake in FTI Consulting by 15.2% during the third quarter. First Trust Advisors LP now owns 47,563 shares of the business services provider’s stock worth $1,688,000 after purchasing an additional 6,289 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in FTI Consulting during the third quarter worth approximately $376,000. Stevens Capital Management LP acquired a new stake in FTI Consulting during the third quarter worth approximately $256,000. Finally, State of Tennessee Treasury Department grew its stake in FTI Consulting by 115.7% during the third quarter. State of Tennessee Treasury Department now owns 69,020 shares of the business services provider’s stock worth $2,448,000 after purchasing an additional 37,020 shares during the period. 98.71% of the stock is owned by institutional investors and hedge funds.
Shares of FTI Consulting, Inc. (NYSE:FCN) opened at $48.93 on Tuesday. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 0.33. FTI Consulting, Inc. has a one year low of $31.65 and a one year high of $50.81. The company has a market capitalization of $1,851.66, a P/E ratio of 21.05 and a beta of 0.25.
FTI Consulting announced that its Board of Directors has approved a share buyback plan on Monday, December 4th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the business services provider to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
In other FTI Consulting news, CAO Catherine M. Freeman sold 6,088 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $48.44, for a total value of $294,902.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.33% of the company’s stock.
FCN has been the subject of several recent analyst reports. Zacks Investment Research cut FTI Consulting from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. ValuEngine raised FTI Consulting from a “hold” rating to a “buy” rating in a research note on Friday, February 23rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $45.50.
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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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