AQR Capital Management LLC Purchases 38,088 Shares of FTI Consulting, Inc. (NYSE:FCN)

AQR Capital Management LLC grew its position in FTI Consulting, Inc. (NYSE:FCN - Free Report) by 14.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 297,323 shares of the business services provider's stock after acquiring an additional 38,088 shares during the quarter. AQR Capital Management LLC owned approximately 0.83% of FTI Consulting worth $56,827,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in FCN. Barclays PLC raised its position in shares of FTI Consulting by 160.8% during the 3rd quarter. Barclays PLC now owns 25,929 shares of the business services provider's stock worth $5,901,000 after purchasing an additional 15,986 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of FTI Consulting during the third quarter valued at $35,000. Synovus Financial Corp increased its holdings in shares of FTI Consulting by 5.5% in the 3rd quarter. Synovus Financial Corp now owns 4,710 shares of the business services provider's stock worth $1,072,000 after acquiring an additional 246 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of FTI Consulting by 3.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 79,120 shares of the business services provider's stock worth $18,005,000 after acquiring an additional 2,860 shares during the period. Finally, Versant Capital Management Inc grew its position in FTI Consulting by 51.4% in the 4th quarter. Versant Capital Management Inc now owns 471 shares of the business services provider's stock worth $90,000 after purchasing an additional 160 shares during the last quarter. 99.36% of the stock is currently owned by institutional investors.

FTI Consulting Stock Performance

Shares of FCN stock traded down $1.01 during mid-day trading on Tuesday, hitting $165.41. 186,818 shares of the stock traded hands, compared to its average volume of 238,063. FTI Consulting, Inc. has a twelve month low of $151.75 and a twelve month high of $243.60. The company's 50-day simple moving average is $163.54 and its 200-day simple moving average is $184.44. The firm has a market cap of $5.67 billion, a price-to-earnings ratio of 21.24 and a beta of 0.18.

FTI Consulting (NYSE:FCN - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.29 earnings per share for the quarter, topping analysts' consensus estimates of $1.79 by $0.50. FTI Consulting had a return on equity of 13.15% and a net margin of 7.57%. The firm had revenue of $898.28 million for the quarter, compared to analysts' expectations of $906.93 million. During the same quarter last year, the business posted $2.23 EPS. FTI Consulting's revenue was down 3.3% on a year-over-year basis. Analysts forecast that FTI Consulting, Inc. will post 8.55 earnings per share for the current year.

FTI Consulting declared that its Board of Directors has authorized a stock repurchase plan on Thursday, April 24th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the business services provider to buy up to 6.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

FCN has been the subject of several analyst reports. The Goldman Sachs Group reduced their price objective on FTI Consulting from $194.00 to $173.00 and set a "neutral" rating for the company in a research report on Friday, February 21st. StockNews.com cut FTI Consulting from a "buy" rating to a "hold" rating in a research note on Thursday, April 3rd. Truist Financial cut shares of FTI Consulting from a "buy" rating to a "hold" rating and cut their price objective for the company from $225.00 to $178.00 in a research note on Wednesday, April 2nd. Finally, William Blair reissued an "outperform" rating on shares of FTI Consulting in a research note on Friday, April 25th.

Insider Buying and Selling

In related news, CFO Ajay Sabherwal sold 5,236 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $164.60, for a total transaction of $861,845.60. Following the completion of the sale, the chief financial officer now directly owns 24,777 shares in the company, valued at approximately $4,078,294.20. This trade represents a 17.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.51% of the company's stock.

FTI Consulting Profile

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.