FTI Consulting, Inc. $FCN Shares Sold by Townsquare Capital LLC

Key Points

• Townsquare Capital LLC sold 10,346 shares of FTI Consulting, reducing its stake by 77.9% in the 1st quarter, now holding 2,936 shares valued at approximately $482,000.
• FTI Consulting reported $2.13 earnings per share for the last quarter, exceeding analysts' expectations, with a total revenue of $943.66 million, but showed a slight year-over-year decline.
• The company has authorized a $400 million share buyback program, indicating management's belief that the stock is undervalued, allowing repurchase of up to 6.9% of outstanding shares.

Townsquare Capital LLC reduced its stake in shares of FTI Consulting, Inc. (NYSE:FCN - Free Report) by 77.9% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,936 shares of the business services provider's stock after selling 10,346 shares during the period. Townsquare Capital LLC's holdings in FTI Consulting were worth $482,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of FCN. Sterling Capital Management LLC grew its position in shares of FTI Consulting by 56.7% during the 4th quarter. Sterling Capital Management LLC now owns 2,101 shares of the business services provider's stock valued at $402,000 after acquiring an additional 760 shares during the period. Barclays PLC grew its position in shares of FTI Consulting by 22.4% during the 4th quarter. Barclays PLC now owns 31,747 shares of the business services provider's stock valued at $6,068,000 after acquiring an additional 5,818 shares during the period. GeoWealth Management LLC grew its position in shares of FTI Consulting by 46.0% during the 4th quarter. GeoWealth Management LLC now owns 181 shares of the business services provider's stock valued at $35,000 after acquiring an additional 57 shares during the period. Dimensional Fund Advisors LP boosted its holdings in FTI Consulting by 3.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 701,033 shares of the business services provider's stock worth $133,987,000 after buying an additional 23,784 shares during the last quarter. Finally, Capital World Investors boosted its holdings in FTI Consulting by 1,191.6% in the 4th quarter. Capital World Investors now owns 71,246 shares of the business services provider's stock worth $13,617,000 after buying an additional 65,730 shares during the last quarter. 99.36% of the stock is currently owned by institutional investors and hedge funds.

FTI Consulting Trading Down 1.0%

FCN stock opened at $165.80 on Monday. 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, Inc. has a 12-month low of $151.75 and a 12-month high of $231.65. The stock has a market cap of $5.37 billion, a price-to-earnings ratio of 23.35 and a beta of 0.18. The business's 50-day moving average is $164.95 and its 200 day moving average is $167.10.

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

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

Analyst Ratings Changes

Separately, William Blair reiterated an "outperform" rating on shares of FTI Consulting in a report on Friday, April 25th.

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.

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