KBC Group NV Sells 16,661 Shares of FTI Consulting, Inc. (NYSE:FCN)

KBC Group NV decreased its position in shares of FTI Consulting, Inc. (NYSE:FCN - Free Report) by 91.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,630 shares of the business services provider's stock after selling 16,661 shares during the period. KBC Group NV's holdings in FTI Consulting were worth $267,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Mawer Investment Management Ltd. grew its stake 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 buying an additional 149,276 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of FTI Consulting by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 3,564,322 shares of the business services provider's stock valued at $681,249,000 after buying an additional 23,419 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in shares of FTI Consulting by 86.4% during the 4th 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 period. Alliancebernstein L.P. lifted its holdings in shares of FTI Consulting by 9.3% during the 4th quarter. Alliancebernstein L.P. now owns 740,858 shares of the business services provider's stock valued at $141,600,000 after buying an additional 63,163 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in FTI Consulting by 3.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 701,033 shares of the business services provider's stock worth $133,987,000 after purchasing an additional 23,784 shares during the period. Hedge funds and other institutional investors own 99.36% of the company's stock.

FTI Consulting Price Performance

Shares of FTI Consulting stock traded up $0.86 during trading on Tuesday, reaching $166.86. 78,372 shares of the stock traded hands, compared to its average volume of 279,217. The company has a market capitalization of $5.72 billion, a price-to-earnings ratio of 22.83 and a beta of 0.19. The business has a fifty day simple moving average of $163.76 and a two-hundred day simple moving average of $172.39. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.24 and a quick ratio of 2.24. FTI Consulting, Inc. has a 52-week low of $151.75 and a 52-week high of $243.60.

FTI Consulting (NYSE:FCN - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.29 earnings per share for the quarter, beating analysts' consensus estimates of $1.79 by $0.50. The firm had revenue of $898.28 million during the quarter, compared to analyst estimates of $906.93 million. FTI Consulting had a return on equity of 13.07% and a net margin of 7.14%. The business's quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.23 earnings per share. Sell-side analysts expect that FTI Consulting, Inc. will post 8.55 EPS for the current year.

FTI Consulting announced that its Board of Directors has initiated a stock buyback program on Thursday, April 24th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the business services provider to reacquire up to 6.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages recently commented on FCN. Truist Financial cut FTI Consulting from a "buy" rating to a "hold" rating and decreased their target price for the stock from $225.00 to $178.00 in a report on Wednesday, April 2nd. William Blair reiterated an "outperform" rating on shares of FTI Consulting in a research note on Friday, April 25th. Finally, Wall Street Zen lowered FTI Consulting from a "buy" rating to a "hold" rating in a research note on Thursday, April 3rd.

Insider Buying and Selling

In other FTI Consulting news, CFO Ajay Sabherwal sold 5,236 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $164.60, for a total value of $861,845.60. Following the completion of the sale, the chief financial officer owned 24,777 shares of the company's stock, 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 Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.79% of the company's stock.

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.