Handelsbanken Fonder AB Cuts Stake in FTI Consulting, Inc. $FCN

Handelsbanken Fonder AB cut its stake in shares of FTI Consulting, Inc. (NYSE:FCN) by 4.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 108,823 shares of the business services provider’s stock after selling 5,400 shares during the quarter. Handelsbanken Fonder AB owned about 0.34% of FTI Consulting worth $17,575,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of FCN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in FTI Consulting during the 1st quarter valued at about $33,000. Nomura Asset Management Co. Ltd. lifted its stake in shares of FTI Consulting by 68.8% in the second quarter. Nomura Asset Management Co. Ltd. now owns 270 shares of the business services provider’s stock worth $44,000 after buying an additional 110 shares in the last quarter. CWM LLC grew its holdings in shares of FTI Consulting by 72.0% during the second quarter. CWM LLC now owns 332 shares of the business services provider’s stock valued at $54,000 after buying an additional 139 shares during the last quarter. Signaturefd LLC grew its holdings in shares of FTI Consulting by 67.8% during the second quarter. Signaturefd LLC now owns 344 shares of the business services provider’s stock valued at $56,000 after buying an additional 139 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of FTI Consulting by 26.6% during the first quarter. Caitong International Asset Management Co. Ltd now owns 362 shares of the business services provider’s stock valued at $59,000 after acquiring an additional 76 shares in the last quarter. Institutional investors own 99.36% of the company’s stock.

Insider Activity at FTI Consulting

In other FTI Consulting news, CEO Steven Henry Gunby acquired 7,500 shares of the stock in a transaction dated Friday, October 24th. The shares were purchased at an average price of $151.12 per share, for a total transaction of $1,133,400.00. Following the purchase, the chief executive officer directly owned 294,007 shares of the company’s stock, valued at approximately $44,430,337.84. This trade represents a 2.62% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 1.79% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on FCN shares. Truist Financial lowered their price objective on FTI Consulting from $178.00 to $165.00 and set a “hold” rating on the stock in a research report on Thursday, October 23rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of FTI Consulting in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $169.00.

FTI Consulting Price Performance

Shares of FCN opened at $164.01 on Friday. The firm has a fifty day simple moving average of $161.43 and a two-hundred day simple moving average of $164.09. The firm has a market cap of $5.06 billion, a PE ratio of 20.89 and a beta of 0.14. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.29. FTI Consulting, Inc. has a 1-year low of $149.31 and a 1-year high of $208.28.

FTI Consulting (NYSE:FCN) last issued its quarterly earnings data on Thursday, October 23rd. The business services provider reported $2.60 EPS for the quarter, topping the consensus estimate of $1.93 by $0.67. The company had revenue of $956.17 million during the quarter, compared to analyst estimates of $941.19 million. FTI Consulting had a return on equity of 14.49% and a net margin of 7.20%.FTI Consulting’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.85 earnings per share. FTI Consulting has set its FY 2025 guidance at 8.200-8.70 EPS. On average, equities analysts anticipate that FTI Consulting, Inc. will post 8.55 EPS for the current year.

FTI Consulting announced that its Board of Directors has approved a share buyback plan on Tuesday, October 21st that allows the company to buyback $500.00 million in shares. This buyback authorization allows the business services provider to purchase up to 9.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

About FTI Consulting

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.