Bank of America Corp DE Sells 17,921 Shares of FTI Consulting, Inc. (NYSE:FCN)

Bank of America Corp DE cut its stake in shares of FTI Consulting, Inc. (NYSE:FCN - Free Report) by 14.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 102,619 shares of the business services provider's stock after selling 17,921 shares during the quarter. Bank of America Corp DE owned approximately 0.29% of FTI Consulting worth $19,614,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in FCN. CIBC Asset Management Inc grew its holdings in FTI Consulting by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 1,083 shares of the business services provider's stock worth $207,000 after buying an additional 55 shares in the last quarter. GeoWealth Management LLC grew its holdings in FTI Consulting by 46.0% in the 4th quarter. GeoWealth Management LLC now owns 181 shares of the business services provider's stock worth $35,000 after buying an additional 57 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in FTI Consulting by 2.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 3,435 shares of the business services provider's stock worth $657,000 after buying an additional 85 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in FTI Consulting by 3.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 2,389 shares of the business services provider's stock worth $457,000 after buying an additional 89 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in FTI Consulting by 59.6% in the 4th quarter. UMB Bank n.a. now owns 265 shares of the business services provider's stock worth $51,000 after buying an additional 99 shares in the last quarter. 99.36% of the stock is owned by institutional investors.

Analyst Ratings Changes

FCN has been the subject of a number of research analyst reports. Wall Street Zen downgraded FTI Consulting from a "buy" rating to a "hold" rating in a research report on Thursday, April 3rd. The Goldman Sachs Group cut their price objective on FTI Consulting from $194.00 to $173.00 and set a "neutral" rating for the company in a research report on Friday, February 21st. Truist Financial downgraded FTI Consulting from a "buy" rating to a "hold" rating and cut their price objective for the company from $225.00 to $178.00 in a research report on Wednesday, April 2nd. Finally, William Blair restated an "outperform" rating on shares of FTI Consulting in a report on Friday, April 25th.

Insiders Place Their Bets

In other 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 value of $861,845.60. Following the sale, the chief financial officer now directly owns 24,777 shares of the company's stock, valued at approximately $4,078,294.20. This trade represents a 17.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.51% of the company's stock.

FTI Consulting Stock Performance

Shares of NYSE:FCN traded up $0.33 during midday trading on Friday, hitting $166.93. 349,084 shares of the stock were exchanged, compared to its average volume of 251,006. FTI Consulting, Inc. has a 52-week low of $151.75 and a 52-week high of $243.60. The business's fifty day simple moving average is $163.55 and its two-hundred day simple moving average is $180.49. The company has a market capitalization of $5.72 billion, a PE ratio of 21.40 and a beta of 0.18.

FTI Consulting (NYSE:FCN - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.50. The business had revenue of $898.28 million during the quarter, compared to analyst estimates of $906.93 million. FTI Consulting had a return on equity of 13.15% and a net margin of 7.57%. FTI Consulting's quarterly revenue was down 3.3% compared to the same quarter last year. During the same period last year, the company earned $2.23 earnings per share. As a group, equities analysts anticipate that FTI Consulting, Inc. will post 8.55 EPS for the current year.

FTI Consulting announced that its Board of Directors has initiated a stock 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 shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its stock is undervalued.

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.