Allianz Asset Management GmbH Has $314,000 Position in FTI Consulting, Inc. (NYSE:FCN)

Key Points

• Allianz Asset Management GmbH cut its stake in FTI Consulting by 76.7%, reducing its holdings to 1,916 shares valued at $314,000.
• FTI Consulting reported earnings of $2.13 per share, surpassing analysts' expectations, with quarterly revenue of $943.66 million despite a 0.6% year-over-year decline.
• The company has authorized a $400 million share buyback program, indicating a belief that its shares are undervalued.

Allianz Asset Management GmbH lessened its holdings in FTI Consulting, Inc. (NYSE:FCN - Free Report) by 76.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,916 shares of the business services provider's stock after selling 6,324 shares during the quarter. Allianz Asset Management GmbH's holdings in FTI Consulting were worth $314,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of FCN. GeoWealth Management LLC lifted its position in 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 purchasing an additional 57 shares during the period. Isthmus Partners LLC lifted its position in shares of FTI Consulting by 2.7% during the 1st quarter. Isthmus Partners LLC now owns 2,402 shares of the business services provider's stock valued at $394,000 after acquiring an additional 63 shares during the period. Signaturefd LLC lifted its position in shares of FTI Consulting by 65.3% during the 1st quarter. Signaturefd LLC now owns 205 shares of the business services provider's stock valued at $34,000 after acquiring an additional 81 shares during the period. Mayfair Advisory Group LLC increased its stake in shares of FTI Consulting by 7.3% during the 1st quarter. Mayfair Advisory Group LLC now owns 1,309 shares of the business services provider's stock worth $215,000 after purchasing an additional 89 shares in the last quarter. Finally, State of Michigan Retirement System increased its stake in shares of FTI Consulting by 1.2% during the 1st quarter. State of Michigan Retirement System now owns 8,504 shares of the business services provider's stock worth $1,395,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 99.36% of the company's stock.

FTI Consulting Stock Performance

FTI Consulting stock traded up $2.20 during mid-day trading on Tuesday, reaching $168.49. The company had a trading volume of 275,663 shares, compared to its average volume of 398,751. FTI Consulting, Inc. has a 52 week low of $151.75 and a 52 week high of $231.65. The firm has a market cap of $5.45 billion, a price-to-earnings ratio of 23.73 and a beta of 0.18. 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 company has a 50 day moving average of $164.27 and a 200-day moving average of $168.79.

FTI Consulting (NYSE:FCN - Get Free Report) last issued 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 firm 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 company's revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.34 EPS. On average, sell-side analysts expect that FTI Consulting, Inc. will post 8.55 EPS for the current fiscal year.

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

Analysts Set New Price Targets

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

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.