Institute for Wealth Management LLC. Purchases New Stake in FTI Consulting, Inc. (NYSE:FCN)

Institute for Wealth Management LLC. acquired a new stake in FTI Consulting, Inc. (NYSE:FCN - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,784 shares of the business services provider's stock, valued at approximately $457,000.

Other institutional investors have also modified their holdings of the company. GeoWealth Management LLC raised its position in shares of FTI Consulting by 46.0% in the fourth quarter. GeoWealth Management LLC now owns 181 shares of the business services provider's stock valued at $35,000 after buying an additional 57 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of FTI Consulting by 394.0% in the fourth quarter. Jones Financial Companies Lllp now owns 247 shares of the business services provider's stock valued at $47,000 after buying an additional 197 shares during the last quarter. Quarry LP raised its position in shares of FTI Consulting by 115.4% in the fourth quarter. Quarry LP now owns 349 shares of the business services provider's stock valued at $67,000 after buying an additional 187 shares during the last quarter. Curat Global LLC acquired a new position in shares of FTI Consulting in the first quarter valued at approximately $89,000. Finally, Covestor Ltd raised its position in shares of FTI Consulting by 23.1% in the fourth quarter. Covestor Ltd now owns 708 shares of the business services provider's stock valued at $135,000 after buying an additional 133 shares during the last quarter. Institutional investors and hedge funds own 99.36% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Wall Street Zen lowered shares of FTI Consulting from a "buy" rating to a "hold" rating in a research report on Thursday, April 3rd. William Blair restated an "outperform" rating on shares of FTI Consulting in a report on Friday, April 25th. Finally, Truist Financial downgraded shares of FTI Consulting from a "buy" rating to a "hold" rating and lowered their target price for the company from $225.00 to $178.00 in a report on Wednesday, April 2nd.

FTI Consulting Trading Up 1.5%

FTI Consulting stock traded up $2.42 during trading on Monday, reaching $161.19. The company had a trading volume of 497,164 shares, compared to its average volume of 273,271. FTI Consulting, Inc. has a 12-month low of $151.75 and a 12-month high of $243.60. The stock's 50 day moving average price is $164.11 and its two-hundred day moving average price is $174.81. The firm has a market capitalization of $5.53 billion, a price-to-earnings ratio of 22.05 and a beta of 0.19. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.24 and a current ratio of 2.24.

FTI Consulting (NYSE:FCN - Get Free Report) last released its earnings results on Thursday, April 24th. The business services provider reported $2.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.79 by $0.50. FTI Consulting had a net margin of 7.14% and a return on equity of 13.07%. 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 previous year, the firm earned $2.23 earnings per share. FTI Consulting's revenue was down 3.3% compared to the same quarter last year. As a group, equities analysts expect that FTI Consulting, Inc. will post 8.55 earnings per share for the current fiscal year.

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

Insiders Place Their Bets

In other FTI Consulting news, CFO Ajay Sabherwal sold 5,236 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were 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 $4,078,294.20. The trade was a 17.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.79% of the stock is owned by insiders.

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.