FTI Consulting, Inc. (NYSE:FCN) Stake Raised by Bank of Nova Scotia

Bank of Nova Scotia increased its holdings in FTI Consulting, Inc. (NYSE:FCN - Free Report) by 986.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,337 shares of the business services provider's stock after acquiring an additional 13,017 shares during the period. Bank of Nova Scotia's holdings in FTI Consulting were worth $2,352,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its stake in FTI Consulting by 0.4% in the 1st quarter. Principal Financial Group Inc. now owns 81,271 shares of the business services provider's stock worth $13,335,000 after acquiring an additional 302 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in FTI Consulting in the 1st quarter worth about $30,000. Black Diamond Financial LLC purchased a new stake in FTI Consulting in the 1st quarter worth about $328,000. GAMMA Investing LLC lifted its stake in FTI Consulting by 7,936.5% in the 1st quarter. GAMMA Investing LLC now owns 39,379 shares of the business services provider's stock worth $6,461,000 after acquiring an additional 38,889 shares in the last quarter. Finally, Two Sigma Investments LP purchased a new stake in FTI Consulting in the 4th quarter worth about $442,000. 99.36% of the stock is owned by hedge funds and other institutional investors.

FTI Consulting Stock Down 0.3%

FCN opened at $167.97 on Thursday. FTI Consulting, Inc. has a fifty-two week low of $151.75 and a fifty-two week high of $231.65. The business has a 50-day moving average of $164.40 and a 200-day moving average of $168.78. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.11 and a quick ratio of 2.11. The company has a market capitalization of $5.44 billion, a PE ratio of 23.66 and a beta of 0.18.

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

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

Analyst Upgrades and Downgrades

Separately, William Blair reaffirmed an "outperform" rating on shares of FTI Consulting in a research note 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.

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