BNP Paribas Financial Markets Sells 2,410 Shares of FTI Consulting, Inc. (NYSE:FCN)

BNP Paribas Financial Markets lessened its stake in shares of FTI Consulting, Inc. (NYSE:FCN - Free Report) by 26.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,594 shares of the business services provider's stock after selling 2,410 shares during the quarter. BNP Paribas Financial Markets' holdings in FTI Consulting were worth $1,260,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. CIBC Asset Management Inc raised its stake in FTI Consulting by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 1,083 shares of the business services provider's stock worth $207,000 after acquiring an additional 55 shares during the period. GeoWealth Management LLC raised its stake in FTI Consulting by 46.0% during the 4th quarter. GeoWealth Management LLC now owns 181 shares of the business services provider's stock worth $35,000 after acquiring an additional 57 shares during the period. Exchange Traded Concepts LLC raised its stake in FTI Consulting by 2.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 3,435 shares of the business services provider's stock worth $657,000 after acquiring an additional 85 shares during the period. Sequoia Financial Advisors LLC raised its stake 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 acquiring an additional 89 shares during the period. Finally, UMB Bank n.a. raised its stake in FTI Consulting by 59.6% during the 4th quarter. UMB Bank n.a. now owns 265 shares of the business services provider's stock worth $51,000 after acquiring an additional 99 shares during the period. Hedge funds and other institutional investors own 99.36% of the company's stock.

FTI Consulting Stock Performance

Shares of FTI Consulting stock traded up $0.33 on Friday, hitting $166.93. 349,084 shares of the company traded hands, compared to its average volume of 251,006. The stock has a market capitalization of $5.72 billion, a P/E ratio of 21.40 and a beta of 0.18. FTI Consulting, Inc. has a 52 week low of $151.75 and a 52 week high of $243.60. The business has a 50-day simple moving average of $163.55 and a 200 day simple moving average of $180.49.

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

FTI Consulting declared that its board has approved a stock repurchase program on Thursday, April 24th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the business services provider to repurchase up to 6.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

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

Insider Activity at FTI Consulting

In related news, CFO Ajay Sabherwal sold 5,236 shares of the firm's stock in a transaction on 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 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.51% of the stock is currently 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.