Graham Capital Management L.P. Sells 2,150 Shares of FTI Consulting, Inc. (NYSE:FCN)

Graham Capital Management L.P. lessened its holdings in shares of FTI Consulting, Inc. (NYSE:FCN - Free Report) by 62.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,314 shares of the business services provider's stock after selling 2,150 shares during the quarter. Graham Capital Management L.P.'s holdings in FTI Consulting were worth $251,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FCN. Ethic Inc. grew its stake in shares of FTI Consulting by 15.7% in the fourth quarter. Ethic Inc. now owns 1,765 shares of the business services provider's stock worth $337,000 after acquiring an additional 239 shares during the last quarter. Deutsche Bank AG boosted its position in shares of FTI Consulting by 16.0% during the fourth quarter. Deutsche Bank AG now owns 5,069 shares of the business services provider's stock valued at $969,000 after buying an additional 698 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its position in shares of FTI Consulting by 9.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 106,398 shares of the business services provider's stock valued at $20,336,000 after buying an additional 9,159 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of FTI Consulting during the fourth quarter valued at $909,000. Finally, Cetera Investment Advisers boosted its position in shares of FTI Consulting by 111.4% during the fourth quarter. Cetera Investment Advisers now owns 2,754 shares of the business services provider's stock valued at $526,000 after buying an additional 1,451 shares during the last quarter. Institutional investors own 99.36% of the company's stock.

Analyst Ratings Changes

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

Insider Activity

In other news, CFO Ajay Sabherwal sold 5,236 shares of the firm's stock in a transaction dated 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 now owns 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 SEC, which is available at the SEC website. Company insiders own 2.51% of the company's stock.

FTI Consulting Stock Performance

Shares of NYSE FCN traded up $0.33 during trading on Friday, hitting $166.93. The company had a trading volume of 349,084 shares, compared to its average volume of 251,006. The stock has a 50 day simple moving average of $163.55 and a 200 day simple moving average of $180.65. The firm has a market capitalization of $5.72 billion, a P/E ratio of 21.40 and a beta of 0.18. FTI Consulting, Inc. has a 12 month low of $151.75 and a 12 month high of $243.60.

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

FTI Consulting declared that its board has approved a stock buyback program on Thursday, April 24th that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the business services provider to buy up to 6.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's management believes its stock is undervalued.

About FTI Consulting

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.