Mawer Investment Management Ltd. Sells 93,554 Shares of FTI Consulting, Inc. (NYSE:FCN)

Key Points

• Mawer Investment Management Ltd. reduced its stake in FTI Consulting by 2.3% during the first quarter, now holding approximately 3.1% of its investment portfolio, equating to 3,972,055 shares valued at $651.7 million.
• Several hedge funds have recently increased their positions in FTI Consulting, with Signaturefd LLC growing its holdings by 65.3% and Quarry LP increasing by 115.4% in the last quarter.
• FTI Consulting's Board of Directors has authorized a $400 million share buyback plan, which indicates the company's management believes its stock is undervalued.

Mawer Investment Management Ltd. lessened its position in FTI Consulting, Inc. (NYSE:FCN - Free Report) by 2.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,972,055 shares of the business services provider's stock after selling 93,554 shares during the period. FTI Consulting comprises 3.1% of Mawer Investment Management Ltd.'s portfolio, making the stock its 9th largest holding. Mawer Investment Management Ltd. owned approximately 11.58% of FTI Consulting worth $651,735,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of FCN. Viawealth LLC purchased a new stake in FTI Consulting in the first quarter valued at approximately $241,000. Inspire Advisors LLC acquired a new stake in shares of FTI Consulting during the 1st quarter worth $605,000. Van Berkom & Associates Inc. raised its position in shares of FTI Consulting by 10.4% in the 1st quarter. Van Berkom & Associates Inc. now owns 430,873 shares of the business services provider's stock worth $70,698,000 after buying an additional 40,546 shares during the period. Cetera Investment Advisers boosted its holdings in FTI Consulting by 5.2% in the first quarter. Cetera Investment Advisers now owns 2,896 shares of the business services provider's stock valued at $475,000 after acquiring an additional 142 shares during the last quarter. Finally, Oak Thistle LLC grew its position in FTI Consulting by 221.9% during the first quarter. Oak Thistle LLC now owns 9,415 shares of the business services provider's stock valued at $1,545,000 after acquiring an additional 6,490 shares during the period. Hedge funds and other institutional investors own 99.36% of the company's stock.

Insider Buying and Selling at FTI Consulting

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 $4,078,294.20. The trade was a 17.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.79% of the company's stock.

Wall Street Analyst Weigh In

FCN has been the topic of a number of research reports. Truist Financial downgraded FTI Consulting from a "buy" rating to a "hold" rating and cut their price objective for the stock from $225.00 to $178.00 in a report on Wednesday, April 2nd. Wall Street Zen lowered shares of FTI Consulting from a "buy" rating to a "hold" rating in a report on Thursday, April 3rd. Finally, William Blair reiterated an "outperform" rating on shares of FTI Consulting in a research note on Friday, April 25th.

FTI Consulting Stock Up 0.2%

FCN stock traded up $0.34 during trading on Tuesday, reaching $171.06. The stock had a trading volume of 418,367 shares, compared to its average volume of 356,332. The firm has a fifty day moving average price of $164.16 and a 200 day moving average price of $169.69. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $5.54 billion, a P/E ratio of 24.09 and a beta of 0.19. FTI Consulting, Inc. has a 1-year low of $151.75 and a 1-year high of $231.65.

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

FTI Consulting announced that its Board of Directors has initiated a stock repurchase program on Thursday, April 24th that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to reacquire up to 6.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

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.