Hussman Strategic Advisors Inc. reduced its position in shares of FTI Consulting, Inc. (NYSE:FCN) by 50.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,000 shares of the business services provider’s stock after selling 25,000 shares during the period. Hussman Strategic Advisors Inc. owned approximately 0.06% of FTI Consulting worth $874,000 as of its most recent filing with the SEC.
A number of other large investors have also modified their holdings of FCN. Teachers Advisors LLC increased its stake in shares of FTI Consulting by 1.7% in the fourth quarter. Teachers Advisors LLC now owns 68,215 shares of the business services provider’s stock worth $3,075,000 after buying an additional 1,135 shares during the last quarter. Capstone Asset Management Co. increased its stake in shares of FTI Consulting by 5.0% in the first quarter. Capstone Asset Management Co. now owns 5,676 shares of the business services provider’s stock worth $234,000 after buying an additional 270 shares during the last quarter. Alpha Windward LLC increased its stake in shares of FTI Consulting by 7.2% in the first quarter. Alpha Windward LLC now owns 11,580 shares of the business services provider’s stock worth $477,000 after buying an additional 780 shares during the last quarter. LGT Capital Partners LTD. raised its stake in FTI Consulting by 8.3% in the first quarter. LGT Capital Partners LTD. now owns 65,000 shares of the business services provider’s stock worth $2,676,000 after buying an additional 5,000 shares in the last quarter. Finally, First Citizens Bank & Trust Co. purchased a new stake in FTI Consulting during the first quarter worth approximately $293,000. 97.45% of the stock is owned by institutional investors.
FTI Consulting, Inc. (FCN) traded down 1.72% during mid-day trading on Friday, hitting $31.93. 457,259 shares of the stock were exchanged. The firm has a 50-day moving average price of $33.21 and a 200-day moving average price of $37.08. FTI Consulting, Inc. has a 12-month low of $31.65 and a 12-month high of $47.12. The stock has a market capitalization of $1.26 billion, a P/E ratio of 34.93 and a beta of 0.28.
FTI Consulting (NYSE:FCN) last released its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by $0.13. FTI Consulting had a net margin of 2.13% and a return on equity of 5.18%. The business had revenue of $447.70 million for the quarter, compared to the consensus estimate of $455.55 million. During the same quarter last year, the firm earned $0.66 EPS. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. Equities analysts predict that FTI Consulting, Inc. will post $1.87 earnings per share for the current fiscal year.
FTI Consulting declared that its board has authorized a stock buyback plan on Friday, May 19th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the business services provider to reacquire up to 7.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
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A number of research firms have commented on FCN. BidaskClub raised shares of FTI Consulting from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Deutsche Bank AG reduced their price objective on shares of FTI Consulting from $47.00 to $38.00 and set a “hold” rating for the company in a research note on Friday, April 28th. Finally, Zacks Investment Research lowered shares of FTI Consulting from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The stock currently has an average rating of “Hold” and a consensus 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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