Mountain Pacific Investment Advisers LLC Buys 12,547 Shares of FTI Consulting, Inc. (NYSE:FCN)

Mountain Pacific Investment Advisers LLC lifted its stake in FTI Consulting, Inc. (NYSE:FCN - Free Report) by 13.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 106,415 shares of the business services provider's stock after acquiring an additional 12,547 shares during the period. Mountain Pacific Investment Advisers LLC owned 0.30% of FTI Consulting worth $17,461,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FCN. Exchange Traded Concepts LLC raised its position in shares of FTI Consulting by 36.6% in the first quarter. Exchange Traded Concepts LLC now owns 4,692 shares of the business services provider's stock valued at $770,000 after purchasing an additional 1,257 shares during the period. CX Institutional bought a new stake in shares of FTI Consulting during the 1st quarter worth $2,734,000. Assenagon Asset Management S.A. grew its stake in FTI Consulting by 130.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 29,100 shares of the business services provider's stock valued at $4,775,000 after buying an additional 16,471 shares during the last quarter. SG Americas Securities LLC bought a new position in FTI Consulting in the 1st quarter worth $942,000. Finally, Farther Finance Advisors LLC raised its holdings in FTI Consulting by 35.7% in the 1st quarter. Farther Finance Advisors LLC now owns 3,333 shares of the business services provider's stock worth $547,000 after acquiring an additional 877 shares during the period. 99.36% of the stock is currently owned by institutional investors and hedge funds.

FTI Consulting Stock Performance

NYSE:FCN opened at $161.02 on Monday. The firm's 50-day moving average is $164.15 and its 200-day moving average is $176.53. The company has a market cap of $5.52 billion, a price-to-earnings ratio of 20.64 and a beta of 0.19. 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 results on Thursday, April 24th. The business services provider reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.50. FTI Consulting had a return on equity of 13.15% and a net margin of 7.57%. The firm had revenue of $898.28 million for the quarter, compared to analyst estimates of $906.93 million. During the same period in the previous year, the company posted $2.23 earnings per share. The company's quarterly revenue was down 3.3% compared to the same quarter last year. Equities analysts predict that FTI Consulting, Inc. will post 8.55 EPS for the current year.

FTI Consulting declared that its Board of Directors has approved 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 leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at FTI Consulting

In other news, CFO Ajay Sabherwal sold 5,236 shares of FTI Consulting stock in a transaction dated Thursday, May 1st. The shares were 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 approximately $4,078,294.20. The trade was a 17.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.

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