Aigen Investment Management LP Makes New Investment in FTI Consulting, Inc. (NYSE:FCN)

Key Points

• Aigen Investment Management LP acquired 4,661 shares of FTI Consulting for approximately $765,000 in Q1, highlighting growing institutional interest in the stock.
• FTI Consulting's revenue for the last quarter was $943.66 million, surpassing analyst estimates, though it reflected a 0.6% decline year-over-year.
• The company's Board of Directors authorized a $400 million stock buyback plan, indicating that they believe the stock is undervalued.

Aigen Investment Management LP purchased a new stake in shares of FTI Consulting, Inc. (NYSE:FCN - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 4,661 shares of the business services provider's stock, valued at approximately $765,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Victory Capital Management Inc. raised its holdings in shares of FTI Consulting by 11.0% during the 1st quarter. Victory Capital Management Inc. now owns 1,549,781 shares of the business services provider's stock valued at $254,288,000 after purchasing an additional 153,523 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in FTI Consulting by 86.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,018,868 shares of the business services provider's stock valued at $194,737,000 after buying an additional 472,245 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in FTI Consulting by 3.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 701,033 shares of the business services provider's stock valued at $133,987,000 after buying an additional 23,784 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in FTI Consulting by 0.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 441,760 shares of the business services provider's stock valued at $72,484,000 after buying an additional 2,952 shares during the last quarter. Finally, Van Berkom & Associates Inc. grew its stake in FTI Consulting by 10.4% in the 1st quarter. Van Berkom & Associates Inc. now owns 430,873 shares of the business services provider's stock valued at $70,698,000 after buying an additional 40,546 shares during the last quarter. Institutional investors own 99.36% of the company's stock.

Analysts Set New Price Targets

Separately, William Blair restated an "outperform" rating on shares of FTI Consulting in a research report on Friday, April 25th.

FTI Consulting Trading Down 1.0%

NYSE FCN traded down $1.70 during trading on Friday, reaching $165.80. 482,338 shares of the stock traded hands, compared to its average volume of 390,757. The firm has a market cap of $5.37 billion, a price-to-earnings ratio of 23.35 and a beta of 0.18. FTI Consulting, Inc. has a fifty-two week low of $151.75 and a fifty-two week high of $231.65. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.25. The stock's 50-day moving average price is $164.95 and its 200 day moving average price is $167.51.

FTI Consulting (NYSE:FCN - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The business services provider reported $2.13 EPS for the quarter, topping analysts' consensus estimates of $1.87 by $0.26. The business had revenue of $943.66 million for the quarter, compared to analyst estimates of $928.38 million. FTI Consulting had a net margin of 6.82% and a return on equity of 12.88%. The firm's revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.34 earnings per share. Analysts predict that FTI Consulting, Inc. will post 8.55 EPS for the current year.

FTI Consulting declared that its Board of Directors has authorized a stock buyback 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 shares are undervalued.

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.