Van Berkom & Associates Inc. Has $70.70 Million Position in FTI Consulting, Inc. (NYSE:FCN)

Key Points

• Van Berkom & Associates Inc. increased its stake in FTI Consulting by 10.4% in Q1, bringing their total ownership to 430,873 shares worth approximately $70.7 million.
• FTI Consulting's recent earnings report exceeded expectations, posting $2.13 earnings per share against a consensus estimate of $1.87, but revenue declined by 0.6% year-over-year.
• The company announced a $400 million share buyback plan, indicating management's belief that its shares may be undervalued.

Van Berkom & Associates Inc. lifted its stake in FTI Consulting, Inc. (NYSE:FCN - Free Report) by 10.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 430,873 shares of the business services provider's stock after acquiring an additional 40,546 shares during the quarter. FTI Consulting makes up 2.3% of Van Berkom & Associates Inc.'s portfolio, making the stock its 22nd biggest holding. Van Berkom & Associates Inc. owned 1.26% of FTI Consulting worth $70,698,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Cetera Investment Advisers increased its position in FTI Consulting by 5.2% during the first quarter. Cetera Investment Advisers now owns 2,896 shares of the business services provider's stock worth $475,000 after buying an additional 142 shares during the last quarter. Oak Thistle LLC increased 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 worth $1,545,000 after buying an additional 6,490 shares during the last quarter. KLP Kapitalforvaltning AS increased its position in FTI Consulting by 19.3% during the first quarter. KLP Kapitalforvaltning AS now owns 10,500 shares of the business services provider's stock worth $1,723,000 after buying an additional 1,700 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in FTI Consulting during the first quarter worth $2,096,000. Finally, Y Intercept Hong Kong Ltd increased its position in FTI Consulting by 57.1% during the first quarter. Y Intercept Hong Kong Ltd now owns 7,894 shares of the business services provider's stock worth $1,295,000 after buying an additional 2,868 shares during the last quarter. 99.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

FTI Consulting Price Performance

FCN traded up $1.46 during midday trading on Wednesday, reaching $172.53. 127,399 shares of the company's stock were exchanged, compared to its average volume of 375,142. The firm has a market capitalization of $5.92 billion, a price-to-earnings ratio of 24.30 and a beta of 0.19. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.25. FTI Consulting, Inc. has a one year low of $151.75 and a one year high of $231.65. The business has a 50-day simple moving average of $164.22 and a two-hundred day simple moving average of $169.70.

FTI Consulting (NYSE:FCN - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The business services provider reported $2.13 EPS for the quarter, topping analysts' consensus estimates of $1.87 by $0.26. The firm had revenue of $943.66 million during the quarter, compared to analysts' expectations of $928.38 million. FTI Consulting had a net margin of 6.82% and a return on equity of 12.88%. The company's revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter last year, the company earned $2.34 earnings per share. As a group, research analysts predict that FTI Consulting, Inc. will post 8.55 EPS for the current year.

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

Insider Buying and Selling

In other FTI Consulting news, CFO Ajay Sabherwal sold 5,236 shares of the firm's stock in a transaction dated 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 transaction, the chief financial officer owned 24,777 shares in the company, valued at $4,078,294.20. This trade represents a 17.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.79% of the stock is currently owned by corporate insiders.

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.