Handelsbanken Fonder AB Sells 20,000 Shares of FTI Consulting, Inc. (NYSE:FCN)

Handelsbanken Fonder AB decreased its stake in shares of FTI Consulting, Inc. (NYSE:FCN - Free Report) by 14.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 114,223 shares of the business services provider's stock after selling 20,000 shares during the quarter. Handelsbanken Fonder AB owned about 0.32% of FTI Consulting worth $18,742,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. increased its holdings 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 worth $194,737,000 after purchasing an additional 472,245 shares in the last quarter. Black Creek Investment Management Inc. increased its holdings 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 worth $124,804,000 after purchasing an additional 407,631 shares in the last quarter. Mawer Investment Management Ltd. increased its holdings 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 worth $777,060,000 after purchasing an additional 149,276 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of FTI Consulting in the 4th quarter worth $27,726,000. Finally, Norges Bank bought a new stake in shares of FTI Consulting in the 4th quarter worth $15,260,000. Hedge funds and other institutional investors own 99.36% of the company's stock.

FTI Consulting Trading Down 0.8%

Shares of NYSE:FCN traded down $1.30 during mid-day trading on Friday, reaching $161.02. The stock had a trading volume of 322,671 shares, compared to its average volume of 266,880. The company has a market cap of $5.52 billion, a P/E ratio of 20.64 and a beta of 0.19. FTI Consulting, Inc. has a 1 year low of $151.75 and a 1 year high of $243.60. The business's 50 day moving average price is $164.15 and its 200 day moving average price is $176.53.

FTI Consulting (NYSE:FCN - Get Free Report) last posted its earnings results on Thursday, April 24th. The business services provider reported $2.29 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 the consensus estimate of $906.93 million. During the same period in the previous year, the business earned $2.23 earnings per share. The firm's revenue for the quarter was down 3.3% on a year-over-year basis. Analysts predict that FTI Consulting, Inc. will post 8.55 earnings per share for the current fiscal year.

FTI Consulting declared that its board has approved a stock repurchase 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 repurchase up to 6.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts have commented on the company. Wall Street Zen lowered FTI Consulting from a "buy" rating to a "hold" rating in a report on Thursday, April 3rd. The Goldman Sachs Group cut their price target on FTI Consulting from $194.00 to $173.00 and set a "neutral" rating for the company in a report on Friday, February 21st. William Blair restated an "outperform" rating on shares of FTI Consulting in a research report on Friday, April 25th. Finally, Truist Financial downgraded FTI Consulting from a "buy" rating to a "hold" rating and lowered their price objective for the company from $225.00 to $178.00 in a research report on Wednesday, April 2nd.

Insider Buying and Selling at FTI Consulting

In other FTI Consulting 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 directly owns 24,777 shares in the company, valued at $4,078,294.20. This 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 this link. Company insiders own 1.79% of the company's stock.

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.