Asset Management One Co. Ltd. Trims Position in FTI Consulting, Inc. (NYSE:FCN)

Asset Management One Co. Ltd. lessened its position in shares of FTI Consulting, Inc. (NYSE:FCN - Free Report) by 84.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,563 shares of the business services provider's stock after selling 14,244 shares during the quarter. Asset Management One Co. Ltd.'s holdings in FTI Consulting were worth $421,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in FTI Consulting by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 438,808 shares of the business services provider's stock worth $83,869,000 after buying an additional 8,032 shares in the last quarter. Isthmus Partners LLC bought a new stake in shares of FTI Consulting in the 4th quarter valued at approximately $447,000. California Public Employees Retirement System lifted its stake in shares of FTI Consulting by 3.4% in the 4th quarter. California Public Employees Retirement System now owns 146,858 shares of the business services provider's stock valued at $28,069,000 after purchasing an additional 4,853 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of FTI Consulting by 7,936.5% in the 1st quarter. GAMMA Investing LLC now owns 39,379 shares of the business services provider's stock valued at $6,461,000 after purchasing an additional 38,889 shares during the last quarter. Finally, Two Sigma Investments LP bought a new stake in shares of FTI Consulting during the 4th quarter worth approximately $442,000. Hedge funds and other institutional investors own 99.36% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on FCN. Truist Financial downgraded FTI Consulting from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $225.00 to $178.00 in a report on Wednesday, April 2nd. William Blair restated an "outperform" rating on shares of FTI Consulting in a research note on Friday, April 25th. Finally, Wall Street Zen downgraded FTI Consulting from a "buy" rating to a "hold" rating in a research note on Thursday, April 3rd.

FTI Consulting Price Performance

FCN stock opened at $161.59 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.24 and a quick ratio of 2.24. The business has a 50 day simple moving average of $163.75 and a 200-day simple moving average of $173.48. The firm has a market capitalization of $5.54 billion, a PE ratio of 22.11 and a beta of 0.19. 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 quarterly earnings results on Thursday, April 24th. The business services provider reported $2.29 EPS for the quarter, topping analysts' consensus estimates of $1.79 by $0.50. The company had revenue of $898.28 million for the quarter, compared to analysts' expectations of $906.93 million. FTI Consulting had a return on equity of 13.07% and a net margin of 7.14%. The firm's revenue was down 3.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.23 earnings per share. Equities research 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 approved a stock buyback program on Thursday, April 24th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the business services provider to buy up to 6.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Insider Activity

In related news, CFO Ajay Sabherwal sold 5,236 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $164.60, for a total transaction of $861,845.60. Following the transaction, the chief financial officer owned 24,777 shares of the company's stock, valued at $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 available through this link. Insiders own 1.79% of the company's stock.

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.

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