Nuveen Asset Management LLC Sells 2,410 Shares of FTI Consulting, Inc. (NYSE:FCN)

Nuveen Asset Management LLC lessened its stake in FTI Consulting, Inc. (NYSE:FCN - Free Report) by 1.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 123,048 shares of the business services provider's stock after selling 2,410 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.34% of FTI Consulting worth $23,518,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Mawer Investment Management Ltd. raised its stake in FTI Consulting by 3.8% during the fourth quarter. Mawer Investment Management Ltd. now owns 4,065,609 shares of the business services provider's stock valued at $777,060,000 after purchasing an additional 149,276 shares in the last quarter. Vanguard Group Inc. raised its stake in FTI Consulting by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 3,564,322 shares of the business services provider's stock valued at $681,249,000 after purchasing an additional 23,419 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its stake in FTI Consulting by 86.4% during the fourth 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 purchasing an additional 472,245 shares in the last quarter. Alliancebernstein L.P. raised its stake in FTI Consulting by 9.3% during the fourth quarter. Alliancebernstein L.P. now owns 740,858 shares of the business services provider's stock valued at $141,600,000 after purchasing an additional 63,163 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in FTI Consulting by 3.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 701,033 shares of the business services provider's stock valued at $133,987,000 after purchasing an additional 23,784 shares in the last quarter. Hedge funds and other institutional investors own 99.36% of the company's stock.

FTI Consulting Stock Performance

FCN stock traded up $0.93 during mid-day trading on Tuesday, reaching $167.68. 161,265 shares of the stock traded hands, compared to its average volume of 250,719. FTI Consulting, Inc. has a one year low of $151.75 and a one year high of $243.60. The stock has a market capitalization of $5.75 billion, a PE ratio of 21.48 and a beta of 0.18. The business has a 50-day moving average price of $163.59 and a two-hundred day moving average price of $180.23.

FTI Consulting (NYSE:FCN - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.29 EPS for the quarter, topping analysts' consensus estimates of $1.79 by $0.50. The firm had revenue of $898.28 million for the quarter, compared to analysts' expectations of $906.93 million. FTI Consulting had a net margin of 7.57% and a return on equity of 13.15%. The business's revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.23 earnings per share. On average, equities 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 approved a share buyback program on Thursday, April 24th that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to purchase up to 6.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Insider Transactions at FTI Consulting

In other news, CFO Ajay Sabherwal sold 5,236 shares of the company'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 transaction, the chief financial officer now directly owns 24,777 shares in the company, valued at approximately $4,078,294.20. This represents a 17.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group decreased their price target on shares of FTI Consulting from $194.00 to $173.00 and set a "neutral" rating on the stock in a research note on Friday, February 21st. Truist Financial cut shares of FTI Consulting from a "buy" rating to a "hold" rating and cut their price objective for the company from $225.00 to $178.00 in a research report on Wednesday, April 2nd. William Blair reiterated an "outperform" rating on shares of FTI Consulting in a research report on Friday, April 25th. Finally, Wall Street Zen cut shares of FTI Consulting from a "buy" rating to a "hold" rating in a research report on Thursday, April 3rd.

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.