New Age Alpha Advisors LLC Takes $5.25 Million Position in FTI Consulting, Inc. (NYSE:FCN)

Key Points

• New Age Alpha Advisors LLC invested approximately $5.25 million in FTI Consulting, acquiring 32,003 shares of the company.
• FTI Consulting reported a net margin of 6.82% and beat earnings expectations, with an EPS of $2.13, exceeding the consensus estimate of $1.87.
• The company has initiated a $400 million share repurchase program, indicating confidence in its stock value amidst a current market cap of $5.45 billion.

New Age Alpha Advisors LLC purchased a new position in shares of FTI Consulting, Inc. (NYSE:FCN - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 32,003 shares of the business services provider's stock, valued at approximately $5,251,000. New Age Alpha Advisors LLC owned approximately 0.09% of FTI Consulting at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. ING Groep NV acquired a new position in shares of FTI Consulting during the first quarter worth about $2,855,000. Argent Trust Co lifted its position in FTI Consulting by 39.8% during the 1st quarter. Argent Trust Co now owns 1,753 shares of the business services provider's stock worth $288,000 after acquiring an additional 499 shares in the last quarter. Bank of Nova Scotia boosted its holdings in FTI Consulting by 986.1% in the 1st quarter. Bank of Nova Scotia now owns 14,337 shares of the business services provider's stock worth $2,352,000 after acquiring an additional 13,017 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of FTI Consulting by 1.5% during the first quarter. PNC Financial Services Group Inc. now owns 18,197 shares of the business services provider's stock valued at $2,986,000 after purchasing an additional 269 shares during the period. Finally, Bayforest Capital Ltd lifted its position in shares of FTI Consulting by 151.8% during the first quarter. Bayforest Capital Ltd now owns 3,303 shares of the business services provider's stock worth $542,000 after purchasing an additional 1,991 shares in the last quarter. Institutional investors and hedge funds own 99.36% of the company's stock.

FTI Consulting Stock Down 0.3%

Shares of FCN traded down $0.45 during trading on Wednesday, reaching $167.97. The company's stock had a trading volume of 236,520 shares, compared to its average volume of 397,945. The company has a market cap of $5.44 billion, a price-to-earnings ratio of 23.66 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. The company has a fifty day moving average of $164.40 and a two-hundred day moving average of $168.78. FTI Consulting, Inc. has a twelve month low of $151.75 and a twelve month high of $231.65.

FTI Consulting (NYSE:FCN - Get Free Report) last issued 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 business had revenue of $943.66 million for the quarter, compared to analyst estimates of $928.38 million. FTI Consulting had a net margin of 6.82% and a return on equity of 12.88%. The company's revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.34 EPS. On average, sell-side analysts predict that FTI Consulting, Inc. will post 8.55 EPS for the current fiscal year.

FTI Consulting announced that its Board of Directors has authorized a share buyback plan on Thursday, April 24th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the business services provider to purchase up to 6.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

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

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.