Y Intercept Hong Kong Ltd Acquires 2,868 Shares of FTI Consulting, Inc. (NYSE:FCN)

Y Intercept Hong Kong Ltd lifted its position in shares of FTI Consulting, Inc. (NYSE:FCN - Free Report) by 57.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,894 shares of the business services provider's stock after buying an additional 2,868 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in FTI Consulting were worth $1,295,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. GeoWealth Management LLC boosted its position in FTI Consulting by 46.0% during the 4th quarter. GeoWealth Management LLC now owns 181 shares of the business services provider's stock worth $35,000 after purchasing an additional 57 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of FTI Consulting during the first quarter worth $30,000. Signaturefd LLC grew its position in shares of FTI Consulting by 65.3% during the first quarter. Signaturefd LLC now owns 205 shares of the business services provider's stock worth $34,000 after acquiring an additional 81 shares during the last quarter. Quarry LP grew its position in shares of FTI Consulting by 115.4% during the fourth quarter. Quarry LP now owns 349 shares of the business services provider's stock worth $67,000 after acquiring an additional 187 shares during the last quarter. Finally, Curat Global LLC bought a new position in FTI Consulting in the 1st quarter valued at about $89,000. 99.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. William Blair restated an "outperform" rating on shares of FTI Consulting in a research report on Friday, April 25th. Truist Financial lowered shares of FTI Consulting from a "buy" rating to a "hold" rating and cut their price objective 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 report on Thursday, April 3rd.

Insider Activity

In other FTI Consulting news, CFO Ajay Sabherwal sold 5,236 shares of FTI Consulting 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 completion of the transaction, the chief financial officer directly owned 24,777 shares of the company's stock, valued at approximately $4,078,294.20. This trade represents a 17.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.79% of the company's stock.

FTI Consulting Stock Performance

FCN stock traded up $0.50 during midday trading on Friday, hitting $173.99. The stock had a trading volume of 407,205 shares, compared to its average volume of 352,148. The firm has a market capitalization of $5.97 billion, a price-to-earnings ratio of 24.51 and a beta of 0.19. FTI Consulting, Inc. has a 52 week low of $151.75 and a 52 week high of $231.65. The stock has a 50-day simple moving average of $164.10 and a 200 day simple moving average of $170.18. The company has a current ratio of 2.11, a quick ratio of 2.24 and a debt-to-equity ratio of 0.25.

FTI Consulting (NYSE:FCN - Get Free Report) last issued its earnings results on Thursday, July 24th. The business services provider reported $2.13 EPS for the quarter, topping the consensus estimate 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 return on equity of 12.88% and a net margin of 6.82%. FTI Consulting's quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the business earned $2.34 earnings per share. As a group, equities research analysts anticipate that FTI Consulting, Inc. will post 8.55 earnings per share for the current year.

FTI Consulting declared that its Board of Directors has initiated a share buyback plan on Thursday, April 24th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the business services provider to repurchase up to 6.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its shares are 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.