D. E. Shaw & Co. Inc. Buys 9,159 Shares of FTI Consulting, Inc. (NYSE:FCN)

D. E. Shaw & Co. Inc. raised its position in shares of FTI Consulting, Inc. (NYSE:FCN - Free Report) by 9.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 106,398 shares of the business services provider's stock after purchasing an additional 9,159 shares during the quarter. D. E. Shaw & Co. Inc. owned 0.30% of FTI Consulting worth $20,336,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Pacer Advisors Inc. boosted its holdings in FTI Consulting by 9,995.1% in the 4th quarter. Pacer Advisors Inc. now owns 518,687 shares of the business services provider's stock worth $99,137,000 after buying an additional 513,549 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in shares of FTI Consulting by 86.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,018,868 shares of the business services provider's stock worth $194,737,000 after acquiring an additional 472,245 shares during the period. Black Creek Investment Management Inc. boosted its stake in shares of FTI Consulting by 166.1% in the fourth quarter. Black Creek Investment Management Inc. now owns 652,980 shares of the business services provider's stock worth $124,804,000 after acquiring an additional 407,631 shares during the period. Mawer Investment Management Ltd. grew its position in shares of FTI Consulting by 3.8% during the fourth quarter. Mawer Investment Management Ltd. now owns 4,065,609 shares of the business services provider's stock worth $777,060,000 after purchasing an additional 149,276 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in FTI Consulting during the 4th quarter valued at approximately $27,726,000. 99.36% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

FTI Consulting Trading Down 1.1%

Shares of FTI Consulting stock opened at $165.00 on Monday. The firm has a market cap of $5.66 billion, a PE ratio of 21.15 and a beta of 0.18. The stock has a 50 day moving average of $163.51 and a 200 day moving average of $182.87. FTI Consulting, Inc. has a 12 month low of $151.75 and a 12 month high of $243.60.

FTI Consulting (NYSE:FCN - Get Free Report) last posted its earnings results on Thursday, April 24th. The business services provider reported $2.29 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $906.93 million. During the same period in the prior year, the company earned $2.23 EPS. The company's quarterly revenue was down 3.3% compared to the same quarter last year. As a group, equities research analysts forecast that FTI Consulting, Inc. will post 8.55 earnings per share for the current fiscal year.

FTI Consulting announced that its Board of Directors has authorized a stock buyback program on Thursday, April 24th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the business services provider to purchase up to 6.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

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

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.

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