New York State Common Retirement Fund lessened its stake in FTI Consulting, Inc. (NYSE:FCN) by 5.0% in the third quarter, according to the company in its most recent disclosure with the Securities Exchange Commission. The institutional investor owned 54,224 shares of the business services provider’s stock after selling 2,838 shares during the quarter. New York State Common Retirement Fund owned about 0.14% of FTI Consulting worth $1,924,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. raised its stake in FTI Consulting by 4.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 309,445 shares of the business services provider’s stock worth $10,819,000 after acquiring an additional 13,352 shares in the last quarter. Arizona State Retirement System raised its stake in FTI Consulting by 1.8% during the second quarter. Arizona State Retirement System now owns 17,400 shares of the business services provider’s stock worth $608,000 after acquiring an additional 300 shares in the last quarter. SG Americas Securities LLC raised its stake in FTI Consulting by 192.1% during the second quarter. SG Americas Securities LLC now owns 26,707 shares of the business services provider’s stock worth $934,000 after acquiring an additional 17,565 shares in the last quarter. Legal General Group Plc raised its stake in FTI Consulting by 11.7% during the second quarter. Legal General Group Plc now owns 60,299 shares of the business services provider’s stock worth $2,106,000 after acquiring an additional 6,331 shares in the last quarter. Finally, Comerica Bank raised its stake in FTI Consulting by 0.8% during the second quarter. Comerica Bank now owns 32,062 shares of the business services provider’s stock worth $1,061,000 after acquiring an additional 270 shares in the last quarter. 97.19% of the stock is owned by institutional investors and hedge funds.
FTI Consulting, Inc. (NYSE FCN) opened at $42.91 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.15 and a current ratio of 2.15. The company has a market capitalization of $1,630.00, a PE ratio of 34.89 and a beta of 0.34. FTI Consulting, Inc. has a 52 week low of $31.65 and a 52 week high of $45.27.
FTI Consulting (NYSE:FCN) last released its quarterly earnings data on Thursday, October 26th. The business services provider reported $0.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.24. FTI Consulting had a return on equity of 6.12% and a net margin of 2.70%. The company had revenue of $448.96 million during the quarter, compared to the consensus estimate of $446.63 million. During the same quarter in the prior year, the firm posted $0.52 earnings per share. The firm’s revenue was up 2.5% compared to the same quarter last year. sell-side analysts forecast that FTI Consulting, Inc. will post 2.06 EPS for the current year.
FTI Consulting declared that its board has initiated a stock buyback plan on Monday, December 4th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the business services provider to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
FCN has been the subject of several research analyst reports. TheStreet raised FTI Consulting from a “c” rating to a “b” rating in a research note on Thursday, October 26th. Zacks Investment Research downgraded FTI Consulting from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th.
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FTI Consulting Profile
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 (MA), 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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