Stoneridge Investment Partners LLC Takes Position in FTI Consulting, Inc. (FCN)

Stoneridge Investment Partners LLC bought a new stake in FTI Consulting, Inc. (NYSE:FCN) during the second quarter, Holdings Channel reports. The institutional investor bought 19,487 shares of the business services provider’s stock, valued at approximately $681,000.

Several other hedge funds also recently made changes to their positions in the company. Meadow Creek Investment Management LLC increased its stake 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 during the last quarter. Acrospire Investment Management LLC increased its stake in shares of 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. LS Investment Advisors LLC increased its stake in shares of FTI Consulting by 17.4% in the second quarter. LS Investment Advisors LLC now owns 3,307 shares of the business services provider’s stock valued at $116,000 after buying an additional 491 shares during the last quarter. TrimTabs Asset Management LLC bought a new stake in shares of FTI Consulting during the first quarter valued at approximately $121,000. Finally, Glen Harbor Capital Management LLC increased its stake in shares of 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. 96.09% of the stock is owned by institutional investors and hedge funds.

Shares of FTI Consulting, Inc. (NYSE:FCN) opened at 32.99 on Friday. FTI Consulting, Inc. has a 52 week low of $31.65 and a 52 week high of $47.12. 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 $1.30 billion, a PE ratio of 36.09 and a beta of 0.28.

FTI Consulting (NYSE:FCN) last issued its earnings results on Thursday, July 27th. The business services provider reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by $0.13. The business had revenue of $447.70 million for the quarter, compared to the consensus estimate of $455.55 million. FTI Consulting had a return on equity of 5.18% and a net margin of 2.13%. FTI Consulting’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.66 EPS. Equities research analysts predict that FTI Consulting, Inc. will post $1.87 EPS for the current fiscal year.

FTI Consulting declared that its Board of Directors has authorized a share repurchase program on Friday, May 19th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the business services provider to buy up to 7.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

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Several brokerages recently commented on FCN. Deutsche Bank AG reduced their target price on shares of FTI Consulting from $47.00 to $38.00 and set a “hold” rating for the company in a report on Friday, April 28th. Zacks Investment Research downgraded shares of FTI Consulting from a “hold” rating to a “sell” rating in a report on Tuesday, April 18th. Finally, BidaskClub downgraded shares of FTI Consulting from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. FTI Consulting 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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Institutional Ownership by Quarter for FTI Consulting (NYSE:FCN)

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