Tudor Investment Corp ET AL Invests $2.06 Million in FTI Consulting, Inc. (NYSE:FCN)

Tudor Investment Corp ET AL purchased a new position in FTI Consulting, Inc. (NYSE:FCN) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 10,783 shares of the business services provider’s stock, valued at approximately $2,061,000.

A number of other large investors also recently bought and sold shares of FCN. Pacer Advisors Inc. lifted its holdings in shares of FTI Consulting by 9,995.1% during the fourth quarter. Pacer Advisors Inc. now owns 518,687 shares of the business services provider’s stock valued at $99,137,000 after purchasing an additional 513,549 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of FTI Consulting by 86.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,018,868 shares of the business services provider’s stock worth $194,737,000 after buying an additional 472,245 shares during the last quarter. Black Creek Investment Management Inc. raised its stake in FTI Consulting by 166.1% during the fourth quarter. Black Creek Investment Management Inc. now owns 652,980 shares of the business services provider’s stock valued at $124,804,000 after buying an additional 407,631 shares during the last quarter. Mawer Investment Management Ltd. boosted its holdings in FTI Consulting by 3.8% in the fourth quarter. Mawer Investment Management Ltd. now owns 4,065,609 shares of the business services provider’s stock worth $777,060,000 after acquiring an additional 149,276 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in FTI Consulting in the fourth quarter worth $27,726,000. 99.36% of the stock is owned by hedge funds and other institutional investors.

FTI Consulting Stock Performance

NYSE FCN opened at $166.56 on Friday. FTI Consulting, Inc. has a one year low of $151.75 and a one year high of $243.60. The stock has a 50-day moving average of $163.50 and a 200 day moving average of $185.19. The company has a market capitalization of $5.71 billion, a price-to-earnings ratio of 21.35 and a beta of 0.21.

FTI Consulting (NYSE:FCN) last announced its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.50. The firm had revenue of $898.28 million during the quarter, compared to analyst estimates of $906.93 million. FTI Consulting had a net margin of 7.57% and a return on equity of 13.15%. The business’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.23 earnings per share. On average, equities analysts predict that FTI Consulting, Inc. will post 8.55 earnings per share for the current fiscal year.

FTI Consulting declared that its board has initiated a share buyback program on Thursday, April 24th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the business services provider to purchase up to 6.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FCN. The Goldman Sachs Group lowered their price target on FTI Consulting from $194.00 to $173.00 and set a “neutral” rating for the company in a research report on Friday, February 21st. Truist Financial cut shares of FTI Consulting from a “buy” rating to a “hold” rating and decreased their target price for the stock from $225.00 to $178.00 in a report on Wednesday, April 2nd. StockNews.com cut shares of FTI Consulting from a “buy” rating to a “hold” rating in a report on Thursday, April 3rd. Finally, William Blair reissued an “outperform” rating on shares of FTI Consulting in a research report on Friday, April 25th.

FTI Consulting Company Profile

FTI Consulting, Inc provides business advisory services to manage change, mitigate risk, and resolve disputes worldwide. The company operates through Corporate Finance & Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology, and Strategic Communications segments. The Corporate Finance & Restructuring segment provides business transformation and strategy, transactions, and turnaround and restructuring services.