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

KBC Group NV trimmed its position in shares of FTI Consulting, Inc. (NYSE:FCN - Free Report) by 91.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in FCN. Jones Financial Companies Lllp boosted its position in FTI Consulting by 394.0% during the fourth quarter. Jones Financial Companies Lllp now owns 247 shares of the business services provider's stock worth $47,000 after purchasing an additional 197 shares during the period. Charles Schwab Investment Management Inc. boosted its position in FTI Consulting by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 438,808 shares of the business services provider's stock worth $83,869,000 after purchasing an additional 8,032 shares during the period. Atria Investments Inc boosted its position in FTI Consulting by 7.7% during the fourth quarter. Atria Investments Inc now owns 11,966 shares of the business services provider's stock worth $2,287,000 after purchasing an additional 858 shares during the period. M&T Bank Corp boosted its position in FTI Consulting by 21.8% during the fourth quarter. M&T Bank Corp now owns 13,442 shares of the business services provider's stock worth $2,569,000 after purchasing an additional 2,403 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in FTI Consulting during the fourth quarter worth $2,192,000. 99.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related 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 value of $861,845.60. Following the sale, the chief financial officer directly owned 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 legal filing with the SEC, which is available at this hyperlink. 1.79% of the stock is owned by insiders.

FTI Consulting Trading Up 0.6%

Shares of FTI Consulting stock traded up $1.03 on Friday, hitting $164.89. The stock had a trading volume of 216,491 shares, compared to its average volume of 279,446. The stock has a 50 day moving average of $163.70 and a 200 day moving average of $172.75. FTI Consulting, Inc. has a twelve month low of $151.75 and a twelve month high of $243.60. The firm has a market capitalization of $5.65 billion, a P/E ratio of 22.56 and a beta of 0.19. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.24 and a current ratio of 2.24.

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

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