Envestnet Portfolio Solutions Inc. Reduces Position in FTI Consulting, Inc. (NYSE:FCN)

Envestnet Portfolio Solutions Inc. decreased its stake in shares of FTI Consulting, Inc. (NYSE:FCN - Free Report) by 59.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,291 shares of the business services provider's stock after selling 1,868 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in FTI Consulting were worth $212,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. GeoWealth Management LLC increased its position in shares of FTI Consulting by 46.0% during the fourth quarter. GeoWealth Management LLC now owns 181 shares of the business services provider's stock worth $35,000 after acquiring an additional 57 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in FTI Consulting by 394.0% during the fourth quarter. Jones Financial Companies Lllp now owns 247 shares of the business services provider's stock worth $47,000 after purchasing an additional 197 shares during the last quarter. Quarry LP boosted its holdings in FTI Consulting by 115.4% during the fourth 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 FTI Consulting during the first quarter worth $89,000. Finally, Covestor Ltd boosted its holdings in FTI Consulting by 23.1% during the fourth 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. Institutional investors own 99.36% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FCN. Truist Financial cut shares of FTI Consulting from a "buy" rating to a "hold" rating and reduced their target price for the stock from $225.00 to $178.00 in a report on Wednesday, April 2nd. William Blair restated an "outperform" rating on shares of FTI Consulting in a report on Friday, April 25th. Finally, Wall Street Zen cut shares of FTI Consulting from a "buy" rating to a "hold" rating in a report on Thursday, April 3rd.

FTI Consulting Stock Performance

FCN stock traded up $1.03 during trading hours on Friday, reaching $164.89. The stock had a trading volume of 216,491 shares, compared to its average volume of 278,755. 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 capitalization of $5.65 billion, a PE ratio of 22.56 and a beta of 0.19. The stock has a 50-day simple moving average of $163.70 and a 200 day simple moving average of $172.89. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.24 and a quick ratio of 2.24.

FTI Consulting (NYSE:FCN - Get Free Report) last posted its quarterly 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. FTI Consulting had a net margin of 7.14% and a return on equity of 13.07%. The company had revenue of $898.28 million for the quarter, compared to the consensus estimate of $906.93 million. During the same period last year, the company posted $2.23 EPS. The firm's quarterly revenue was down 3.3% compared to the same quarter last year. Analysts predict that FTI Consulting, Inc. will post 8.55 EPS for the current fiscal year.

FTI Consulting declared that its board has authorized a stock buyback plan on Thursday, April 24th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the business services provider to reacquire up to 6.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

Insider Activity

In other FTI Consulting news, CFO Ajay Sabherwal sold 5,236 shares of the business's stock in a transaction 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 completion of the sale, the chief financial officer owned 24,777 shares in the company, valued at approximately $4,078,294.20. The trade was a 17.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.79% of the stock is owned by insiders.

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.