CX Institutional Invests $2.73 Million in FTI Consulting, Inc. (NYSE:FCN)

CX Institutional acquired a new stake in FTI Consulting, Inc. (NYSE:FCN - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 16,660 shares of the business services provider's stock, valued at approximately $2,734,000.

Several other institutional investors have also added to or reduced their stakes in FCN. GeoWealth Management LLC lifted its position 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 buying an additional 57 shares in the last quarter. Jones Financial Companies Lllp lifted its position in FTI Consulting by 394.0% during the 4th quarter. Jones Financial Companies Lllp now owns 247 shares of the business services provider's stock worth $47,000 after buying an additional 197 shares in the last quarter. Quarry LP increased its stake in shares of FTI Consulting by 115.4% during the 4th quarter. Quarry LP now owns 349 shares of the business services provider's stock worth $67,000 after purchasing an additional 187 shares during the last quarter. Curat Global LLC acquired a new position in shares of FTI Consulting during the 1st quarter worth about $89,000. Finally, Covestor Ltd increased its stake in shares of FTI Consulting by 23.1% during the 4th quarter. Covestor Ltd now owns 708 shares of the business services provider's stock worth $135,000 after purchasing an additional 133 shares during the last quarter. 99.36% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other FTI Consulting news, CFO Ajay Sabherwal sold 5,236 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 24,777 shares in the company, valued at $4,078,294.20. This represents a 17.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.79% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Wall Street Zen lowered shares of FTI Consulting from a "buy" rating to a "hold" rating in a research note on Thursday, April 3rd. Truist Financial lowered shares of FTI Consulting from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $225.00 to $178.00 in a research note on Wednesday, April 2nd. William Blair restated an "outperform" rating on shares of FTI Consulting in a research note on Friday, April 25th. Finally, The Goldman Sachs Group lowered 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 note on Friday, February 21st.

FTI Consulting Stock Performance

FCN traded down $1.30 on Friday, reaching $161.02. The company had a trading volume of 322,671 shares, compared to its average volume of 266,880. FTI Consulting, Inc. has a fifty-two week low of $151.75 and a fifty-two week high of $243.60. The stock has a market cap of $5.52 billion, a P/E ratio of 20.64 and a beta of 0.19. The company's fifty day moving average is $164.15 and its 200 day moving average is $176.53.

FTI Consulting (NYSE:FCN - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.29 EPS for the quarter, beating analysts' consensus estimates of $1.79 by $0.50. FTI Consulting had a net margin of 7.57% and a return on equity of 13.15%. The business had revenue of $898.28 million for the quarter, compared to analyst estimates of $906.93 million. During the same quarter in the prior year, the business earned $2.23 EPS. FTI Consulting's quarterly revenue was down 3.3% on a year-over-year basis. On average, sell-side analysts expect that FTI Consulting, Inc. will post 8.55 EPS for the current year.

FTI Consulting declared that its Board of Directors has initiated a share buyback program on Thursday, April 24th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the business services provider to buy up to 6.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its stock is undervalued.

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.