Bank of America Corp DE Has $19.61 Million Holdings in FTI Consulting, Inc. (NYSE:FCN)

Bank of America Corp DE lowered its position in FTI Consulting, Inc. (NYSE:FCN - Free Report) by 14.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 102,619 shares of the business services provider's stock after selling 17,921 shares during the period. Bank of America Corp DE owned about 0.29% of FTI Consulting worth $19,614,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in FCN. Pacer Advisors Inc. increased its holdings in FTI Consulting by 9,995.1% during the 4th quarter. Pacer Advisors Inc. now owns 518,687 shares of the business services provider's stock worth $99,137,000 after purchasing an additional 513,549 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in FTI Consulting by 86.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,018,868 shares of the business services provider's stock worth $194,737,000 after purchasing an additional 472,245 shares in the last quarter. Black Creek Investment Management Inc. increased its holdings in FTI Consulting by 166.1% during the 4th quarter. Black Creek Investment Management Inc. now owns 652,980 shares of the business services provider's stock worth $124,804,000 after purchasing an additional 407,631 shares in the last quarter. Mawer Investment Management Ltd. increased its holdings in FTI Consulting by 3.8% during the 4th quarter. Mawer Investment Management Ltd. now owns 4,065,609 shares of the business services provider's stock worth $777,060,000 after purchasing an additional 149,276 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in FTI Consulting during the 4th quarter worth about $27,726,000. Institutional investors own 99.36% of the company's stock.

FTI Consulting Stock Performance

FTI Consulting stock traded up $1.18 during midday trading on Thursday, reaching $166.64. 319,288 shares of the company's stock were exchanged, compared to its average volume of 249,692. 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 $5.71 billion, a price-to-earnings ratio of 21.36 and a beta of 0.18. The stock's 50-day simple moving average is $163.55 and its 200 day simple moving average is $181.02.

FTI Consulting (NYSE:FCN - Get Free Report) last posted 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. FTI Consulting had a return on equity of 13.15% and a net margin of 7.57%. The business had revenue of $898.28 million during the quarter, compared to analysts' expectations of $906.93 million. During the same quarter last year, the company posted $2.23 earnings per share. FTI Consulting's quarterly revenue was down 3.3% on a year-over-year basis. Research analysts forecast that FTI Consulting, Inc. will post 8.55 earnings per share for the current year.

FTI Consulting announced that its Board of Directors has initiated a stock buyback program on Thursday, April 24th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the business services provider to repurchase up to 6.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. William Blair restated an "outperform" rating on shares of FTI Consulting in a report on Friday, April 25th. Wall Street Zen cut FTI Consulting from a "buy" rating to a "hold" rating in a report on Thursday, April 3rd. The Goldman Sachs Group decreased their price objective on FTI Consulting from $194.00 to $173.00 and set a "neutral" rating for the company in a report on Friday, February 21st. Finally, Truist Financial cut 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.

Insider Buying and Selling

In other FTI Consulting 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 transaction of $861,845.60. Following the completion of the sale, the chief financial officer now directly owns 24,777 shares in the company, valued at $4,078,294.20. This trade represents a 17.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.51% of the stock is currently owned by corporate 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.