FTI Consulting, Inc. (NYSE:FCN) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its position in shares of FTI Consulting, Inc. (NYSE:FCN - Free Report) by 22.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 37,969 shares of the business services provider's stock after selling 10,976 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.11% of FTI Consulting worth $6,231,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. GeoWealth Management LLC lifted its position in FTI Consulting by 46.0% in the 4th quarter. GeoWealth Management LLC now owns 181 shares of the business services provider's stock valued at $35,000 after acquiring an additional 57 shares in the last quarter. Sequoia Financial Advisors LLC lifted 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 worth $457,000 after purchasing an additional 89 shares in the last quarter. Mayfair Advisory Group LLC grew its position 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 valued at $215,000 after purchasing an additional 89 shares in the last quarter. Axxcess Wealth Management LLC increased its holdings in shares of FTI Consulting by 6.0% in the 4th quarter. Axxcess Wealth Management LLC now owns 1,820 shares of the business services provider's stock worth $348,000 after buying an additional 103 shares during the last quarter. Finally, Argent Trust Co raised its position in FTI Consulting by 8.9% in the 4th quarter. Argent Trust Co now owns 1,254 shares of the business services provider's stock worth $240,000 after purchasing an additional 103 shares during the period. 99.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

FTI Consulting Trading Up 0.5%

Shares of NYSE FCN traded up $0.87 during trading hours on Monday, reaching $165.76. The stock had a trading volume of 418,618 shares, compared to its average volume of 280,002. FTI Consulting, Inc. has a 52-week low of $151.75 and a 52-week high of $243.60. The firm has a market cap of $5.68 billion, a price-to-earnings ratio of 22.68 and a beta of 0.19. The business's fifty day moving average price is $163.76 and its two-hundred day moving average price is $172.39. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.07.

FTI Consulting (NYSE:FCN - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.29 EPS for the quarter, topping the consensus estimate of $1.79 by $0.50. The firm had revenue of $898.28 million during the quarter, compared to analyst estimates of $906.93 million. FTI Consulting had a net margin of 7.14% and a return on equity of 13.07%. FTI Consulting's revenue was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.23 EPS. 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 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 purchase up to 6.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

Insider Activity at FTI Consulting

In other FTI Consulting news, CFO Ajay Sabherwal sold 5,236 shares of the company's 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 owned 24,777 shares in the company, valued at approximately $4,078,294.20. This represents a 17.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.79% of the stock is owned by insiders.

FTI Consulting Company 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.