Tidal Investments LLC Makes New $1.05 Million Investment in FTI Consulting, Inc. (NYSE:FCN)

Tidal Investments LLC acquired a new stake in FTI Consulting, Inc. (NYSE:FCN - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,483 shares of the business services provider's stock, valued at approximately $1,048,000.

Several other hedge funds have also recently bought and sold shares of FCN. CIBC Asset Management Inc grew its holdings in FTI Consulting by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 1,083 shares of the business services provider's stock valued at $207,000 after purchasing an additional 55 shares during the last quarter. GeoWealth Management LLC boosted its position in shares of FTI Consulting by 46.0% in the 4th quarter. GeoWealth Management LLC now owns 181 shares of the business services provider's stock worth $35,000 after buying an additional 57 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in FTI Consulting by 2.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 3,435 shares of the business services provider's stock valued at $657,000 after acquiring an additional 85 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in FTI Consulting by 3.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 2,389 shares of the business services provider's stock valued at $457,000 after acquiring an additional 89 shares in the last quarter. Finally, Axxcess Wealth Management LLC increased its holdings in FTI Consulting by 6.0% during the 4th quarter. Axxcess Wealth Management LLC now owns 1,820 shares of the business services provider's stock valued at $348,000 after acquiring an additional 103 shares in the last quarter. 99.36% of the stock is owned by hedge funds and other institutional investors.

FTI Consulting Stock Down 0.4%

Shares of NYSE:FCN traded down $0.59 during midday trading on Friday, reaching $163.56. The company's stock had a trading volume of 55,649 shares, compared to its average volume of 253,318. The firm has a market cap of $5.61 billion, a price-to-earnings ratio of 21.01 and a beta of 0.18. The business has a 50 day moving average price of $163.82 and a 200 day moving average price of $179.74. FTI Consulting, Inc. has a 1 year low of $151.75 and a 1 year high of $243.60.

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, topping the consensus estimate of $1.79 by $0.50. FTI Consulting had a net margin of 7.57% and a return on equity of 13.15%. The business had revenue of $898.28 million for the quarter, compared to analysts' expectations of $906.93 million. During the same period last year, the company earned $2.23 earnings per share. The company's quarterly revenue was down 3.3% on a year-over-year basis. Sell-side analysts anticipate 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 initiated a stock repurchase plan on Thursday, April 24th that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the business services provider to repurchase up to 6.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's management believes its shares are undervalued.

Insiders Place Their Bets

In related news, CFO Ajay Sabherwal sold 5,236 shares of the firm'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 value of $861,845.60. Following the transaction, the chief financial officer now 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.51% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

FCN has been the subject of a number of recent research reports. Truist Financial cut shares of FTI Consulting from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $225.00 to $178.00 in a research note on Wednesday, April 2nd. William Blair reissued an "outperform" rating on shares of FTI Consulting in a research report on Friday, April 25th. Wall Street Zen downgraded FTI Consulting from a "buy" rating to a "hold" rating in a research report on Thursday, April 3rd. Finally, The Goldman Sachs Group dropped 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.

About FTI Consulting

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.