ING Groep NV Makes New 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 purchased a new stake in FTI Consulting, Inc. (NYSE:FCN - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 17,400 shares of the business services provider's stock, valued at approximately $2,855,000. ING Groep NV owned about 0.05% of FTI Consulting at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of FCN. T. Rowe Price Investment Management Inc. lifted its stake 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 acquiring an additional 472,245 shares during the period. Black Creek Investment Management Inc. increased its stake 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 worth $124,804,000 after acquiring an additional 407,631 shares during the period. Victory Capital Management Inc. raised its holdings in FTI Consulting by 11.0% during 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 in the last quarter. Raymond James Financial Inc. purchased a new position in FTI Consulting during the fourth quarter worth about $27,726,000. Finally, Norges Bank acquired a new stake in FTI Consulting in the fourth quarter valued at about $15,260,000. Institutional investors and hedge funds own 99.36% of the company's stock.

Analyst Ratings Changes

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

FTI Consulting Price Performance

Shares of FCN traded down $0.45 during trading hours on Wednesday, reaching $167.97. The company had a trading volume of 236,520 shares, compared to its average volume of 397,945. The company has a current ratio of 2.11, a quick 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 firm has a 50 day simple moving average of $164.40 and a 200-day simple moving average of $168.78. The company has a market capitalization of $5.44 billion, a price-to-earnings ratio of 23.66 and a beta of 0.18.

FTI Consulting (NYSE:FCN - Get Free Report) last announced its quarterly 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. FTI Consulting had a return on equity of 12.88% and a net margin of 6.82%. The business had revenue of $943.66 million for the quarter, compared to analyst estimates of $928.38 million. During the same quarter in the previous year, the company earned $2.34 EPS. The company's quarterly revenue was down .6% on a year-over-year basis. Research analysts expect 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 repurchase program on Thursday, April 24th that allows the company to buyback $400.00 million in shares. This buyback authorization allows the business services provider to buy up to 6.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.

FTI Consulting Company 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.