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

CX Institutional bought a new position in FTI Consulting, Inc. (NYSE:FCN - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 16,660 shares of the business services provider's stock, valued at approximately $2,734,000.

Other institutional investors also recently modified their holdings of the company. GeoWealth Management LLC grew its position in shares of 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 during the period. Jones Financial Companies Lllp grew its position in shares of 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 during the period. Quarry LP grew its position 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 buying an additional 187 shares during the period. Curat Global LLC acquired a new stake in shares of FTI Consulting during the 1st quarter worth approximately $89,000. Finally, Covestor Ltd grew its position 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 buying an additional 133 shares during the period. Institutional investors and hedge funds own 99.36% of the company's stock.

FTI Consulting Stock Performance

FCN traded up $2.52 on Thursday, hitting $162.34. 344,354 shares of the company were exchanged, compared to its average volume of 265,404. The stock's fifty day moving average is $163.98 and its 200-day moving average is $177.20. The company has a market cap of $5.57 billion, a PE ratio of 20.81 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.

FTI Consulting (NYSE:FCN - Get Free Report) last issued its earnings results on Thursday, April 24th. The business services provider reported $2.29 EPS for the quarter, topping the consensus estimate of $1.79 by $0.50. FTI Consulting had a return on equity of 13.15% and a net margin of 7.57%. The company had revenue of $898.28 million during the quarter, compared to the consensus estimate of $906.93 million. During the same period in the previous year, the company posted $2.23 EPS. The firm's revenue for the quarter was down 3.3% compared to the same quarter last year. As a group, equities research analysts expect that FTI Consulting, Inc. will post 8.55 EPS for the current fiscal year.

FTI Consulting announced that its board has authorized a stock buyback plan 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 reacquire up to 6.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In other FTI Consulting news, CFO Ajay Sabherwal sold 5,236 shares of the stock in a transaction dated 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 directly owns 24,777 shares in the company, valued at $4,078,294.20. This represents a 17.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.51% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on FCN shares. Truist Financial cut shares of FTI Consulting from a "buy" rating to a "hold" rating and decreased their price objective for the company from $225.00 to $178.00 in a report on Wednesday, April 2nd. 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. William Blair reissued an "outperform" rating on shares of FTI Consulting in a research note on Friday, April 25th. Finally, Wall Street Zen lowered shares of FTI Consulting from a "buy" rating to a "hold" rating in a research note on Thursday, April 3rd.

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.