Lazard Asset Management LLC Acquires 11,606 Shares of FTI Consulting, Inc. (NYSE:FCN)

Lazard Asset Management LLC increased its holdings in shares of FTI Consulting, Inc. (NYSE:FCN - Free Report) by 1,953.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,200 shares of the business services provider's stock after purchasing an additional 11,606 shares during the period. Lazard Asset Management LLC's holdings in FTI Consulting were worth $2,331,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of FCN. Pacer Advisors Inc. grew its position in shares of FTI Consulting by 9,995.1% in the 4th quarter. Pacer Advisors Inc. now owns 518,687 shares of the business services provider's stock valued at $99,137,000 after purchasing an additional 513,549 shares during the period. T. Rowe Price Investment Management Inc. grew its position in shares of FTI Consulting by 86.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,018,868 shares of the business services provider's stock valued at $194,737,000 after purchasing an additional 472,245 shares during the period. Black Creek Investment Management Inc. grew its position in shares of FTI Consulting by 166.1% in the 4th quarter. Black Creek Investment Management Inc. now owns 652,980 shares of the business services provider's stock valued at $124,804,000 after purchasing an additional 407,631 shares during the period. Mawer Investment Management Ltd. grew its position in shares of FTI Consulting by 3.8% in the 4th quarter. Mawer Investment Management Ltd. now owns 4,065,609 shares of the business services provider's stock valued at $777,060,000 after purchasing an additional 149,276 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of FTI Consulting in the 4th quarter valued at approximately $27,726,000. 99.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at FTI Consulting

In other news, CFO Ajay Sabherwal sold 5,236 shares of the company's stock in a transaction that occurred 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 in the company, valued at $4,078,294.20. This represents a 17.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.51% of the company's stock.

FTI Consulting Price Performance

NYSE:FCN traded up $0.33 during trading hours on Friday, reaching $166.93. 349,084 shares of the stock were exchanged, compared to its average volume of 250,566. FTI Consulting, Inc. has a twelve month low of $151.75 and a twelve month high of $243.60. The firm has a 50 day moving average of $163.55 and a 200 day moving average of $180.79. The stock has a market cap of $5.72 billion, a PE ratio of 21.40 and a beta of 0.18.

FTI Consulting (NYSE:FCN - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.29 earnings per share (EPS) for the quarter, topping 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 company had revenue of $898.28 million for the quarter, compared to analysts' expectations of $906.93 million. During the same quarter in the prior year, the business posted $2.23 EPS. The business's revenue was down 3.3% compared to the same quarter last year. Equities research analysts anticipate that FTI Consulting, Inc. will post 8.55 earnings per share for the current year.

FTI Consulting announced that its board has authorized a share repurchase plan 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 buy up to 6.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. The Goldman Sachs Group decreased their price objective 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. Wall Street Zen lowered FTI Consulting from a "buy" rating to a "hold" rating in a research report on Thursday, April 3rd. Truist Financial lowered FTI Consulting from a "buy" rating to a "hold" rating and decreased their price objective for the company from $225.00 to $178.00 in a research report on Wednesday, April 2nd. Finally, William Blair reaffirmed an "outperform" rating on shares of FTI Consulting in a research report on Friday, April 25th.

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.