Congress Asset Management Co. Has $2.84 Million Stake in FTI Consulting, Inc. (NYSE:FCN)

Congress Asset Management Co. cut its stake in shares of FTI Consulting, Inc. (NYSE:FCN - Free Report) by 91.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,296 shares of the business services provider's stock after selling 188,092 shares during the quarter. Congress Asset Management Co.'s holdings in FTI Consulting were worth $2,838,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FCN. CIBC Asset Management Inc increased its position 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 valued at $207,000 after buying an additional 55 shares in the last quarter. GeoWealth Management LLC lifted its stake in FTI Consulting by 46.0% in the fourth quarter. GeoWealth Management LLC now owns 181 shares of the business services provider's stock valued at $35,000 after purchasing an additional 57 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in FTI Consulting by 3.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 2,389 shares of the business services provider's stock valued at $457,000 after purchasing an additional 89 shares during the last quarter. Axxcess Wealth Management LLC lifted its position in shares of FTI Consulting by 6.0% during the fourth quarter. Axxcess Wealth Management LLC now owns 1,820 shares of the business services provider's stock worth $348,000 after acquiring an additional 103 shares in the last quarter. Finally, Argent Trust Co lifted its position in shares of FTI Consulting by 8.9% during the fourth quarter. Argent Trust Co now owns 1,254 shares of the business services provider's stock worth $240,000 after acquiring an additional 103 shares in the last quarter. 99.36% of the stock is owned by institutional investors and hedge funds.

FTI Consulting Stock Performance

FCN opened at $163.98 on Monday. FTI Consulting, Inc. has a fifty-two week low of $151.75 and a fifty-two week high of $243.60. The firm's fifty day moving average is $163.86 and its 200 day moving average is $178.03. The stock has a market cap of $5.62 billion, a price-to-earnings ratio of 21.02 and a beta of 0.19.

FTI Consulting (NYSE:FCN - Get Free Report) last announced its earnings results 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 analysts' expectations of $906.93 million. FTI Consulting had a net margin of 7.57% and a return on equity of 13.15%. The business's revenue was down 3.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.23 EPS. On average, equities research analysts predict that FTI Consulting, Inc. will post 8.55 earnings per share for the current year.

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

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 transaction of $861,845.60. Following the sale, the chief financial officer now owns 24,777 shares in the company, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.51% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

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.

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