Entropy Technologies LP Buys 10,086 Shares of FTI Consulting, Inc. (NYSE:FCN)

Key Points

• Entropy Technologies LP significantly increased its stake in FTI Consulting by 284.6% in the first quarter, resulting in ownership of 13,630 shares valued at approximately $2.236 million.
• FTI Consulting's most recent quarterly earnings report showed an earnings per share of $2.13, exceeding analysts' expectations, despite a 6.0% decline in revenue year-over-year.
• The company has initiated a $400 million stock repurchase program, indicating management's belief that its stock may be undervalued.

Entropy Technologies LP raised its position in shares of FTI Consulting, Inc. (NYSE:FCN - Free Report) by 284.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,630 shares of the business services provider's stock after acquiring an additional 10,086 shares during the period. Entropy Technologies LP's holdings in FTI Consulting were worth $2,236,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Victory Capital Management Inc. raised its position in FTI Consulting by 11.0% during the first quarter. Victory Capital Management Inc. now owns 1,549,781 shares of the business services provider's stock valued at $254,288,000 after purchasing an additional 153,523 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position 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 valued at $194,737,000 after purchasing an additional 472,245 shares in the last quarter. Dimensional Fund Advisors LP raised its position in FTI Consulting by 3.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 701,033 shares of the business services provider's stock valued at $133,987,000 after purchasing an additional 23,784 shares in the last quarter. Black Creek Investment Management Inc. raised its position in FTI Consulting by 166.1% during the fourth 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in FTI Consulting by 0.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 441,760 shares of the business services provider's stock valued at $72,484,000 after purchasing an additional 2,952 shares in the last quarter. Institutional investors own 99.36% of the company's stock.

FTI Consulting Trading Down 1.4%

Shares of FTI Consulting stock traded down $2.41 during trading on Tuesday, hitting $165.15. The company's stock had a trading volume of 520,977 shares, compared to its average volume of 378,954. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.11 and a quick ratio of 2.11. FTI Consulting, Inc. has a 52 week low of $151.75 and a 52 week high of $231.65. The stock has a market cap of $5.34 billion, a price-to-earnings ratio of 23.26 and a beta of 0.18. The stock has a 50-day moving average price of $164.69 and a two-hundred day moving average price of $167.92.

FTI Consulting (NYSE:FCN - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The business services provider reported $2.13 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.26. FTI Consulting had a net margin of 6.82% and a return on equity of 12.88%. The company had revenue of $943.66 million for the quarter, compared to analysts' expectations of $928.38 million. During the same quarter in the previous year, the firm posted $2.34 earnings per share. FTI Consulting's revenue for the quarter was down .6% on a year-over-year basis. Equities research analysts anticipate that FTI Consulting, Inc. will post 8.55 EPS for the current fiscal year.

FTI Consulting announced that its Board of Directors has approved a share 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 buy up to 6.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Separately, William Blair reiterated 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.