ING Groep NV Makes New $2.86 Million Investment in FTI Consulting, Inc. (NYSE:FCN)

Key Points

• ING Groep NV has acquired a stake in FTI Consulting, purchasing 17,400 shares valued at approximately $2.85 million, representing 0.05% of the company's stock.
• FTI Consulting's shares are currently trading up 1.3%, with a market cap of $5.45 billion and a recent earnings report showing $2.13 EPS, which exceeded analysts' expectations.
• The company has announced a share buyback program authorizing the repurchase of up to $400 million in outstanding shares, indicating confidence in its stock value.

ING Groep NV acquired a new stake in shares of FTI Consulting, Inc. (NYSE:FCN - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 17,400 shares of the business services provider's stock, valued at approximately $2,855,000. ING Groep NV owned 0.05% of FTI Consulting as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of FCN. Victory Capital Management Inc. grew its holdings in FTI Consulting by 11.0% in the first quarter. Victory Capital Management Inc. now owns 1,549,781 shares of the business services provider's stock worth $254,288,000 after purchasing an additional 153,523 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of FTI Consulting by 86.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,018,868 shares of the business services provider's stock valued at $194,737,000 after buying an additional 472,245 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of FTI Consulting by 3.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 701,033 shares of the business services provider's stock valued at $133,987,000 after buying an additional 23,784 shares during the last quarter. Black Creek Investment Management Inc. grew its holdings in shares of FTI Consulting by 166.1% during the fourth quarter. Black Creek Investment Management Inc. now owns 652,980 shares of the business services provider's stock valued at $124,804,000 after buying an additional 407,631 shares during the last quarter. Finally, Van Berkom & Associates Inc. grew its holdings in shares of FTI Consulting by 10.4% during the first quarter. Van Berkom & Associates Inc. now owns 430,873 shares of the business services provider's stock valued at $70,698,000 after buying an additional 40,546 shares during the last quarter. 99.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, William Blair reissued an "outperform" rating on shares of FTI Consulting in a report on Friday, April 25th.

FTI Consulting Stock Performance

Shares of FCN traded down $0.64 during trading hours on Friday, reaching $167.58. 192,937 shares of the company traded hands, compared to its average volume of 388,313. The stock has a market capitalization of $5.42 billion, a P/E ratio of 23.60 and a beta of 0.18. 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 12-month low of $151.75 and a 12-month high of $231.65. The business has a fifty day moving average price of $164.55 and a 200-day moving average price of $168.44.

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

FTI Consulting declared that its board has initiated a share repurchase plan on Thursday, April 24th that allows the company to buyback $400.00 million in shares. This buyback authorization allows the business services provider to repurchase up to 6.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its stock is 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.