Curat Global LLC Purchases Shares of 540 FTI Consulting, Inc. (NYSE:FCN)

Curat Global LLC purchased a new stake in FTI Consulting, Inc. (NYSE:FCN) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 540 shares of the business services provider’s stock, valued at approximately $89,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FCN. GeoWealth Management LLC increased its position in FTI Consulting by 46.0% in the 4th quarter. GeoWealth Management LLC now owns 181 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 57 shares during the period. Jones Financial Companies Lllp increased its position in FTI Consulting by 394.0% in the 4th quarter. Jones Financial Companies Lllp now owns 247 shares of the business services provider’s stock valued at $47,000 after acquiring an additional 197 shares during the period. Quarry LP increased its position in FTI Consulting by 115.4% in the 4th quarter. Quarry LP now owns 349 shares of the business services provider’s stock valued at $67,000 after acquiring an additional 187 shares during the period. Covestor Ltd increased its position in FTI Consulting by 23.1% in the 4th quarter. Covestor Ltd now owns 708 shares of the business services provider’s stock valued at $135,000 after acquiring an additional 133 shares during the period. Finally, Venturi Wealth Management LLC increased its position in FTI Consulting by 127.5% in the 4th quarter. Venturi Wealth Management LLC now owns 762 shares of the business services provider’s stock valued at $146,000 after acquiring an additional 427 shares during the period. 99.36% of the stock is currently owned by institutional investors and hedge funds.

FTI Consulting Stock Up 1.2%

FCN opened at $163.98 on Friday. FTI Consulting, Inc. has a twelve month low of $151.75 and a twelve month high of $243.60. The company has a fifty day moving average of $163.86 and a 200-day moving average of $178.32. The stock has a market cap of $5.62 billion, a PE ratio of 21.02 and a beta of 0.19.

FTI Consulting (NYSE:FCN) last posted 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 business had revenue of $898.28 million during the quarter, compared to analysts’ expectations of $906.93 million. FTI Consulting had a net margin of 7.57% and a return on equity of 13.15%. The business’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period last year, the company posted $2.23 earnings per share. Sell-side analysts anticipate that FTI Consulting, Inc. will post 8.55 EPS for the current fiscal year.

FTI Consulting announced that its board has approved a share repurchase program on Thursday, April 24th that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the business services provider to purchase up to 6.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on FCN shares. William Blair reiterated an “outperform” rating on shares of FTI Consulting in a research report on Friday, April 25th. Wall Street Zen cut shares of FTI Consulting from a “buy” rating to a “hold” rating in a research report on Thursday, April 3rd. Truist Financial cut shares of FTI Consulting from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $225.00 to $178.00 in a research report on Wednesday, April 2nd. Finally, The Goldman Sachs Group decreased their price objective on shares of FTI Consulting from $194.00 to $173.00 and set a “neutral” rating for the company in a research report on Friday, February 21st.

Insiders Place Their Bets

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

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.