Peregrine Capital Management LLC Sells 27,580 Shares of FTI Consulting, Inc. (NYSE:FCN)

Peregrine Capital Management LLC cut its stake in FTI Consulting, Inc. (NYSE:FCN - Free Report) by 37.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,043 shares of the business services provider's stock after selling 27,580 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.13% of FTI Consulting worth $7,555,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of FCN. Mawer Investment Management Ltd. grew its holdings in 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 valued at $777,060,000 after buying an additional 149,276 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of FTI Consulting by 0.7% in 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 acquiring an additional 23,419 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in shares of FTI Consulting by 86.4% in 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 acquiring an additional 472,245 shares during the period. Alliancebernstein L.P. grew its stake in shares of FTI Consulting by 9.3% in the fourth quarter. Alliancebernstein L.P. now owns 740,858 shares of the business services provider's stock valued at $141,600,000 after acquiring an additional 63,163 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position 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 worth $133,987,000 after acquiring an additional 23,784 shares during the period. Institutional investors and hedge funds own 99.36% of the company's stock.

Insider Activity at FTI Consulting

In related news, CFO Ajay Sabherwal sold 5,236 shares of the firm's stock in a transaction dated 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 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 transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.79% of the company's stock.

FTI Consulting Price Performance

FTI Consulting stock traded up $2.76 during trading hours on Tuesday, reaching $164.26. 308,074 shares of the stock were exchanged, compared to its average volume of 277,036. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.07. FTI Consulting, Inc. has a twelve month low of $151.75 and a twelve month high of $243.60. The company has a market cap of $5.63 billion, a P/E ratio of 22.47 and a beta of 0.19. The stock has a 50 day moving average of $163.75 and a two-hundred day moving average of $173.48.

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 for the quarter, topping analysts' consensus estimates of $1.79 by $0.50. The company had revenue of $898.28 million during the quarter, compared to the consensus estimate of $906.93 million. FTI Consulting had a net margin of 7.14% and a return on equity of 13.07%. The firm's quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.23 EPS. Equities analysts expect that FTI Consulting, Inc. will post 8.55 EPS for the current fiscal year.

FTI Consulting declared that its board has approved a share repurchase program on Thursday, April 24th that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the business services provider to reacquire up to 6.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on FCN shares. Truist Financial downgraded 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 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 downgraded FTI Consulting from a "buy" rating to a "hold" rating in a research report on Thursday, April 3rd.

FTI Consulting Company 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.