GAMMA Investing LLC Has $6.46 Million Stake in FTI Consulting, Inc. (NYSE:FCN)

GAMMA Investing LLC increased its stake in FTI Consulting, Inc. (NYSE:FCN - Free Report) by 7,936.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 39,379 shares of the business services provider's stock after acquiring an additional 38,889 shares during the quarter. GAMMA Investing LLC owned approximately 0.11% of FTI Consulting worth $6,461,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of FCN. Entropy Technologies LP grew its holdings in shares of FTI Consulting by 44.7% in the 4th quarter. Entropy Technologies LP now owns 3,544 shares of the business services provider's stock worth $677,000 after acquiring an additional 1,094 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of FTI Consulting by 1,215.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 48,945 shares of the business services provider's stock worth $9,291,000 after acquiring an additional 45,224 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of FTI Consulting by 38.1% in the 4th quarter. Van ECK Associates Corp now owns 30,737 shares of the business services provider's stock worth $5,875,000 after acquiring an additional 8,487 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in shares of FTI Consulting by 206.0% in the 4th quarter. Asset Management One Co. Ltd. now owns 16,807 shares of the business services provider's stock worth $3,233,000 after acquiring an additional 11,314 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of FTI Consulting by 3.7% in the 4th quarter. Rhumbline Advisers now owns 101,852 shares of the business services provider's stock worth $19,467,000 after acquiring an additional 3,609 shares during the last quarter. 99.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FCN has been the subject of several recent analyst reports. The Goldman Sachs Group decreased their target price on FTI Consulting from $194.00 to $173.00 and set a "neutral" rating for the company in a research report on Friday, February 21st. Truist Financial cut FTI Consulting from a "buy" rating to a "hold" rating and decreased their target price for the stock from $225.00 to $178.00 in a research report on Wednesday, April 2nd. William Blair reaffirmed an "outperform" rating on shares of FTI Consulting in a research report on Friday, April 25th. Finally, Wall Street Zen cut FTI Consulting from a "buy" rating to a "hold" rating in a research report on Thursday, April 3rd.

Insider Activity

In related news, CFO Ajay Sabherwal sold 5,236 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $164.60, for a total transaction of $861,845.60. Following the sale, the chief financial officer now owns 24,777 shares of the company's stock, valued at approximately $4,078,294.20. This trade represents a 17.45% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.51% of the stock is currently owned by company insiders.

FTI Consulting Price Performance

FCN traded down $1.30 during trading on Friday, reaching $161.02. 322,671 shares of the stock traded hands, compared to its average volume of 266,323. The stock's 50-day simple moving average is $164.15 and its two-hundred day simple moving average is $176.91. 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 cap of $5.52 billion, a price-to-earnings ratio of 20.64 and a beta of 0.19.

FTI Consulting (NYSE:FCN - Get Free Report) last issued its earnings results on Thursday, April 24th. The business services provider reported $2.29 EPS for the quarter, beating analysts' consensus estimates of $1.79 by $0.50. FTI Consulting had a return on equity of 13.15% and a net margin of 7.57%. The firm had revenue of $898.28 million for the quarter, compared to the consensus estimate of $906.93 million. During the same quarter in the previous year, the company posted $2.23 earnings per share. The business's quarterly revenue was down 3.3% compared to the same quarter last year. Research analysts anticipate that FTI Consulting, Inc. will post 8.55 earnings per share for the current fiscal year.

FTI Consulting announced that its Board of Directors has approved a stock buyback program on Thursday, April 24th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the business services provider to buy 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.

FTI Consulting 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.