Capital & Planning LLC Cuts Holdings in FTI Consulting, Inc. (NYSE:FCN)

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

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FCN. T. Rowe Price Investment Management Inc. boosted its stake in FTI Consulting by 86.4% during the fourth 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 last quarter. Black Creek Investment Management Inc. lifted its stake in shares of FTI Consulting by 166.1% in the 4th quarter. Black Creek Investment Management Inc. now owns 652,980 shares of the business services provider's stock valued at $124,804,000 after purchasing an additional 407,631 shares during the last quarter. Mawer Investment Management Ltd. lifted its stake in shares of FTI Consulting by 3.8% in the 4th quarter. Mawer Investment Management Ltd. now owns 4,065,609 shares of the business services provider's stock valued at $777,060,000 after purchasing an additional 149,276 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of FTI Consulting in the 4th quarter valued at $27,726,000. Finally, Norges Bank acquired a new position in shares of FTI Consulting in the 4th quarter valued at $15,260,000. Institutional investors and hedge funds own 99.36% of the company's stock.

FTI Consulting Trading Up 0.5%

Shares of FCN stock traded up $0.87 on Monday, hitting $165.76. The stock had a trading volume of 418,618 shares, compared to its average volume of 280,002. 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 firm has a market capitalization of $5.68 billion, a P/E ratio of 22.68 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. The company's 50 day moving average price is $163.76 and its 200-day moving average price is $172.39.

FTI Consulting (NYSE:FCN - Get Free Report) last posted 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. The firm had revenue of $898.28 million for the quarter, compared to the consensus estimate of $906.93 million. FTI Consulting had a return on equity of 13.07% and a net margin of 7.14%. The company's quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.23 EPS. Analysts anticipate that FTI Consulting, Inc. will post 8.55 earnings per share for the current year.

FTI Consulting announced that its board has initiated a stock buyback plan on Thursday, April 24th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the business services provider to reacquire up to 6.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

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

Insider Activity

In related news, CFO Ajay Sabherwal sold 5,236 shares of the business's stock in a transaction on 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 owned 24,777 shares in the company, valued at approximately $4,078,294.20. The trade was a 17.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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.