Federated Hermes Inc. lowered its stake in FTI Consulting, Inc. (NYSE:FCN - Free Report) by 2.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 117,201 shares of the business services provider's stock after selling 3,559 shares during the quarter. Federated Hermes Inc. owned approximately 0.34% of FTI Consulting worth $19,230,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Principal Financial Group Inc. increased its position in FTI Consulting by 0.4% during the first quarter. Principal Financial Group Inc. now owns 81,271 shares of the business services provider's stock worth $13,335,000 after buying an additional 302 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in FTI Consulting during the first quarter worth $30,000. Black Diamond Financial LLC bought a new stake in FTI Consulting during the first quarter worth $328,000. 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 acquiring an additional 4,853 shares during the last quarter. Finally, 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 acquiring an additional 38,889 shares during the last quarter. Institutional investors and hedge funds own 99.36% of the company's stock.
Analysts Set New Price Targets
FCN has been the subject of several analyst reports. William Blair reaffirmed an "outperform" rating on shares of FTI Consulting in a research report on Friday, April 25th. Wall Street Zen cut shares of FTI Consulting from a "buy" rating to a "hold" rating in a research report on Thursday, April 3rd.
Get Our Latest Stock Analysis on FTI Consulting
FTI Consulting Stock Down 2.8%
FTI Consulting stock opened at $166.28 on Friday. FTI Consulting, Inc. has a 1-year low of $151.75 and a 1-year high of $231.65. The firm has a 50 day simple moving average of $164.32 and a 200 day simple moving average of $169.52. The firm has a market capitalization of $5.38 billion, a price-to-earnings ratio of 23.42 and a beta of 0.19. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.25.
FTI Consulting (NYSE:FCN - Get Free Report) last posted its quarterly earnings results 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. The business had revenue of $943.66 million during the quarter, compared to the consensus estimate of $928.38 million. FTI Consulting had a net margin of 6.82% and a return on equity of 12.88%. The firm's revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.34 earnings per share. On average, analysts predict that FTI Consulting, Inc. will post 8.55 earnings per share for the current year.
FTI Consulting declared that its Board of Directors has approved a stock repurchase plan on Thursday, April 24th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the business services provider to purchase up to 6.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its stock is undervalued.
FTI Consulting Profile
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Free Report)
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.
Further Reading

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