FTI Consulting, Inc. (NYSE:FCN) Position Cut by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC trimmed its stake in FTI Consulting, Inc. (NYSE:FCN) by 6.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,224 shares of the business services provider’s stock after selling 166 shares during the quarter. Schonfeld Strategic Advisors LLC’s holdings in FTI Consulting were worth $425,000 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

A number of brokerages recently weighed in on FCN. The Goldman Sachs Group cut their price objective on shares of FTI Consulting from $194.00 to $173.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. William Blair restated an “outperform” rating on shares of FTI Consulting in a research note on Friday, April 25th. Truist Financial cut shares of FTI Consulting from a “buy” rating to a “hold” rating and cut their price objective for the company from $225.00 to $178.00 in a research note on Wednesday, April 2nd. Finally, StockNews.com cut shares of FTI Consulting from a “buy” rating to a “hold” rating in a research note on Thursday, April 3rd.

Insider Buying and Selling

In related news, CFO Ajay Sabherwal sold 5,236 shares of FTI Consulting stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $164.60, for a total value of $861,845.60. Following the transaction, the chief financial officer now owns 24,777 shares of the company’s stock, valued at approximately $4,078,294.20. This trade represents a 17.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.51% of the stock is owned by corporate insiders.

FTI Consulting Stock Down 1.1%

NYSE:FCN opened at $165.00 on Monday. The business’s 50-day moving average price is $163.51 and its 200 day moving average price is $182.87. The firm has a market cap of $5.66 billion, a P/E ratio of 21.15 and a beta of 0.18. FTI Consulting, Inc. has a 52-week low of $151.75 and a 52-week high of $243.60.

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

FTI Consulting declared that its Board of Directors has authorized a share buyback program on Thursday, April 24th that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to buy up to 6.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

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.