Envestnet Asset Management Inc. Decreases Position in FTI Consulting, Inc. (NYSE:FCN)

Envestnet Asset Management Inc. trimmed its position in shares of FTI Consulting, Inc. (NYSE:FCN - Free Report) by 8.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 67,054 shares of the business services provider's stock after selling 5,902 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.19% of FTI Consulting worth $11,002,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of FCN. T. Rowe Price Investment Management Inc. boosted 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 worth $194,737,000 after purchasing an additional 472,245 shares in the last quarter. Black Creek Investment Management Inc. boosted 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 worth $124,804,000 after purchasing an additional 407,631 shares in the last quarter. Mawer Investment Management Ltd. boosted its position in FTI Consulting by 3.8% during the fourth quarter. Mawer Investment Management Ltd. now owns 4,065,609 shares of the business services provider's stock worth $777,060,000 after purchasing an additional 149,276 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in FTI Consulting during the fourth quarter worth $27,726,000. Finally, Norges Bank purchased a new stake in FTI Consulting during the fourth quarter worth $15,260,000. 99.36% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Ajay Sabherwal sold 5,236 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $164.60, for a total transaction of $861,845.60. Following the transaction, the chief financial officer directly owned 24,777 shares in the company, valued at approximately $4,078,294.20. This represents a 17.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.79% of the company's stock.

Analysts Set New Price Targets

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

FTI Consulting Stock Down 1.1%

Shares of NYSE:FCN opened at $164.39 on Monday. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.07. FTI Consulting, Inc. has a 52-week low of $151.75 and a 52-week high of $243.60. The stock's fifty day simple moving average is $163.69 and its 200-day simple moving average is $170.69. The company has a market capitalization of $5.64 billion, a P/E ratio of 22.49 and a beta of 0.19.

FTI Consulting (NYSE:FCN - Get Free Report) last issued its quarterly earnings data 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. FTI Consulting had a return on equity of 13.07% and a net margin of 7.14%. The business had revenue of $898.28 million for the quarter, compared to the consensus estimate of $906.93 million. During the same period in the prior year, the business earned $2.23 earnings per share. The business's revenue was down 3.3% on a year-over-year basis. As a group, equities research analysts forecast that FTI Consulting, Inc. will post 8.55 earnings per share for the current fiscal year.

FTI Consulting declared that its board has authorized a stock 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 purchase up to 6.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

FTI Consulting 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.

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