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

Envestnet Portfolio Solutions Inc. lessened its holdings in FTI Consulting, Inc. (NYSE:FCN - Free Report) by 59.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund 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.

A number of other hedge funds also recently bought and sold shares of FCN. Charles Schwab Investment Management Inc. increased its holdings in shares of FTI Consulting by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 438,808 shares of the business services provider's stock worth $83,869,000 after buying an additional 8,032 shares during the last quarter. Isthmus Partners LLC purchased a new position in FTI Consulting in the fourth quarter worth about $447,000. California Public Employees Retirement System lifted its stake in shares of FTI Consulting by 3.4% in the 4th quarter. California Public Employees Retirement System now owns 146,858 shares of the business services provider's stock valued at $28,069,000 after purchasing an additional 4,853 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of FTI Consulting by 7,936.5% in the 1st quarter. GAMMA Investing LLC now owns 39,379 shares of the business services provider's stock valued at $6,461,000 after purchasing an additional 38,889 shares during the last quarter. Finally, Two Sigma Investments LP purchased a new position in shares of FTI Consulting in the 4th quarter worth approximately $442,000. Hedge funds and other institutional investors own 99.36% of the company's stock.

FTI Consulting Trading Down 0.1%

FCN stock traded down $0.24 during midday trading on Wednesday, reaching $164.03. The company's stock had a trading volume of 261,699 shares, compared to its average volume of 278,294. The stock has a fifty day simple moving average of $163.68 and a two-hundred day simple moving average of $173.41. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.24 and a current ratio of 2.24. FTI Consulting, Inc. has a 1 year low of $151.75 and a 1 year high of $243.60. The firm has a market capitalization of $5.62 billion, a price-to-earnings ratio of 22.44 and a beta of 0.19.

FTI Consulting (NYSE:FCN - Get Free Report) last posted its earnings results on Thursday, April 24th. The business services provider reported $2.29 earnings per share for the quarter, topping analysts' consensus estimates of $1.79 by $0.50. The company had revenue of $898.28 million during the quarter, compared to analyst estimates of $906.93 million. FTI Consulting had a return on equity of 13.07% and a net margin of 7.14%. FTI Consulting's revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.23 earnings per share. On average, equities research analysts predict that FTI Consulting, Inc. will post 8.55 EPS for the current year.

FTI Consulting declared that its board has initiated a share repurchase program on Thursday, April 24th that allows the company to buyback $400.00 million in shares. This buyback authorization allows the business services provider to purchase up to 6.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its stock is undervalued.

Insiders Place Their Bets

In other FTI Consulting 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 value of $861,845.60. Following the completion of the sale, the chief financial officer directly owned 24,777 shares in the company, valued at approximately $4,078,294.20. This trade 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 the SEC website. 1.79% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.