Capital & Planning LLC Sells 10,038 Shares of FTI Consulting, Inc. (NYSE:FCN)

Capital & Planning LLC lowered its position in shares of FTI Consulting, Inc. (NYSE:FCN - Free Report) by 83.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,005 shares of the business services provider's stock after selling 10,038 shares during the quarter. Capital & Planning LLC's holdings in FTI Consulting were worth $329,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. T. Rowe Price Investment Management Inc. grew its position in shares of 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 buying an additional 472,245 shares during the period. Black Creek Investment Management Inc. grew its position in shares of 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 buying an additional 407,631 shares during the period. Mawer Investment Management Ltd. grew its position in shares of 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 buying an additional 149,276 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of FTI Consulting during the 4th quarter worth approximately $27,726,000. Finally, Norges Bank acquired a new stake in shares of FTI Consulting during the 4th quarter worth approximately $15,260,000. Institutional investors and hedge funds own 99.36% of the company's stock.

FTI Consulting Trading Down 0.2%

FTI Consulting stock traded down $0.25 during midday trading on Tuesday, hitting $165.75. 95,604 shares of the stock were exchanged, compared to its average volume of 279,296. The company has a fifty day simple moving average of $163.76 and a two-hundred day simple moving average of $172.39. FTI Consulting, Inc. has a 52 week low of $151.75 and a 52 week high of $243.60. The stock has a market capitalization of $5.68 billion, a PE ratio of 22.67 and a beta of 0.19. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.07.

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 for the quarter, topping the consensus estimate of $1.79 by $0.50. FTI Consulting had a net margin of 7.14% and a return on equity of 13.07%. The business had revenue of $898.28 million for the quarter, compared to analyst estimates of $906.93 million. During the same quarter last year, the firm earned $2.23 EPS. FTI Consulting's quarterly revenue was down 3.3% compared to the same quarter last year. Equities research analysts anticipate that FTI Consulting, Inc. will post 8.55 EPS for the current fiscal year.

FTI Consulting declared that its Board of Directors has authorized a share buyback plan on Thursday, April 24th that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to buy up to 6.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its stock is undervalued.

Insiders Place Their Bets

In other FTI Consulting news, CFO Ajay Sabherwal sold 5,236 shares of FTI Consulting stock in a transaction that occurred 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 transaction, the chief financial officer owned 24,777 shares of the company's stock, valued at approximately $4,078,294.20. The trade was a 17.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.79% of the company's stock.

Analysts Set New Price Targets

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

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.