Public Employees Retirement System of Ohio reduced its stake in shares of FTI Consulting, Inc. (NYSE:FCN) by 8.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,165 shares of the business services provider’s stock after selling 372 shares during the period. Public Employees Retirement System of Ohio’s holdings in FTI Consulting were worth $171,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of the stock. Meadow Creek Investment Management LLC raised its position in shares of FTI Consulting by 24.7% in the first quarter. Meadow Creek Investment Management LLC now owns 2,548 shares of the business services provider’s stock valued at $105,000 after buying an additional 504 shares in the last quarter. Acrospire Investment Management LLC boosted its stake in FTI Consulting by 57.9% in the first quarter. Acrospire Investment Management LLC now owns 2,726 shares of the business services provider’s stock valued at $112,000 after buying an additional 1,000 shares during the last quarter. TrimTabs Asset Management LLC purchased a new stake in FTI Consulting during the first quarter valued at approximately $121,000. Glen Harbor Capital Management LLC boosted its stake in FTI Consulting by 24.7% in the first quarter. Glen Harbor Capital Management LLC now owns 3,094 shares of the business services provider’s stock valued at $128,000 after buying an additional 612 shares during the last quarter. Finally, Engineers Gate Manager LP purchased a new stake in FTI Consulting during the first quarter valued at approximately $206,000. Institutional investors and hedge funds own 96.09% of the company’s stock.
FTI Consulting, Inc. (NYSE FCN) traded up 0.70% during midday trading on Friday, reaching $33.22. The company’s stock had a trading volume of 145,089 shares. The firm has a 50 day moving average of $33.50 and a 200 day moving average of $37.49. The firm has a market cap of $1.31 billion, a P/E ratio of 36.35 and a beta of 0.28. FTI Consulting, Inc. has a 52-week low of $31.65 and a 52-week high of $47.12.
FTI Consulting (NYSE:FCN) last announced its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.40 EPS for the quarter, missing the Zacks’ consensus estimate of $0.53 by $0.13. The firm had revenue of $447.70 million during the quarter, compared to analyst estimates of $455.55 million. FTI Consulting had a net margin of 2.13% and a return on equity of 5.18%. The company’s revenue was down 2.7% on a year-over-year basis. During the same period last year, the business posted $0.66 EPS. Analysts anticipate that FTI Consulting, Inc. will post $1.87 earnings per share for the current fiscal year.
FTI Consulting declared that its Board of Directors has initiated a stock buyback plan on Friday, May 19th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the business services provider to reacquire up to 7.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
Several research firms have commented on FCN. Zacks Investment Research cut FTI Consulting from a “hold” rating to a “sell” rating in a research note on Tuesday, April 18th. BidaskClub upgraded FTI Consulting from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Finally, Deutsche Bank AG cut their target price on FTI Consulting from $47.00 to $38.00 and set a “hold” rating on the stock in a research note on Friday, April 28th. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. FTI Consulting presently has an average rating of “Hold” and an average price target of $43.00.
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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