CWA Asset Management Group LLC Sells 16,956 Shares of FTI Consulting, Inc. (NYSE:FCN)

CWA Asset Management Group LLC reduced its stake in FTI Consulting, Inc. (NYSE:FCN - Free Report) by 21.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 62,938 shares of the business services provider's stock after selling 16,956 shares during the quarter. CWA Asset Management Group LLC owned approximately 0.18% of FTI Consulting worth $10,327,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in FTI Consulting by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 438,808 shares of the business services provider's stock valued at $83,869,000 after buying an additional 8,032 shares during the last quarter. Isthmus Partners LLC purchased a new stake in FTI Consulting in the 4th quarter valued at $447,000. Ieq Capital LLC raised its position in FTI Consulting by 214.4% in the 4th quarter. Ieq Capital LLC now owns 6,074 shares of the business services provider's stock valued at $1,161,000 after buying an additional 4,142 shares during the last quarter. California Public Employees Retirement System raised its position in FTI Consulting by 3.4% in the 4th quarter. California Public Employees Retirement System now owns 146,858 shares of the business services provider's stock valued at $28,069,000 after buying an additional 4,853 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in FTI Consulting by 7,936.5% in the 1st quarter. GAMMA Investing LLC now owns 39,379 shares of the business services provider's stock valued at $6,461,000 after buying an additional 38,889 shares during the last quarter. 99.36% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Ajay Sabherwal sold 5,236 shares of the business's 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 sale, the chief financial officer now owns 24,777 shares of the company's stock, valued at $4,078,294.20. The trade was a 17.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.79% of the company's stock.

FTI Consulting Stock Performance

FCN traded down $2.61 during midday trading on Friday, reaching $158.80. The company had a trading volume of 868,215 shares, compared to its average volume of 272,372. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.24 and a current ratio of 2.24. The stock has a market cap of $5.45 billion, a PE ratio of 21.72 and a beta of 0.19. FTI Consulting, Inc. has a 12-month low of $151.75 and a 12-month high of $243.60. The business has a 50-day moving average price of $164.23 and a two-hundred day moving average price of $175.24.

FTI Consulting (NYSE:FCN - Get Free Report) last released its earnings results on Thursday, April 24th. The business services provider reported $2.29 earnings per share for the quarter, beating analysts' consensus estimates 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 7.14% and a return on equity of 13.07%. The company's quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.23 earnings per share. On average, sell-side analysts expect that FTI Consulting, Inc. will post 8.55 earnings per share for the current fiscal year.

FTI Consulting announced that its board has initiated a stock repurchase 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 buy up to 6.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Wall Street Zen lowered FTI Consulting from a "buy" rating to a "hold" rating in a research report on Thursday, April 3rd. The Goldman Sachs Group decreased their price objective on shares of FTI Consulting from $194.00 to $173.00 and set a "neutral" rating for the company in a report on Friday, February 21st. Truist Financial cut shares of FTI Consulting from a "buy" rating to a "hold" rating and dropped their target price for the company from $225.00 to $178.00 in a research note on Wednesday, April 2nd. Finally, William Blair reiterated an "outperform" rating on shares of FTI Consulting in a research note 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.