SG Americas Securities LLC Buys Shares of 5,742 FTI Consulting, Inc. (NYSE:FCN)

SG Americas Securities LLC bought a new position in shares of FTI Consulting, Inc. (NYSE:FCN - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 5,742 shares of the business services provider's stock, valued at approximately $942,000.

Several other hedge funds also recently bought and sold shares of FCN. Charles Schwab Investment Management Inc. raised its holdings in shares of FTI Consulting by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 438,808 shares of the business services provider's stock valued at $83,869,000 after buying an additional 8,032 shares during the period. Isthmus Partners LLC purchased a new position in FTI Consulting during the 4th quarter valued at about $447,000. Ieq Capital LLC grew its position in FTI Consulting by 214.4% in the 4th quarter. Ieq Capital LLC now owns 6,074 shares of the business services provider's stock valued at $1,161,000 after acquiring an additional 4,142 shares in the last quarter. California Public Employees Retirement System increased its stake in FTI Consulting by 3.4% during the fourth quarter. California Public Employees Retirement System now owns 146,858 shares of the business services provider's stock worth $28,069,000 after purchasing an additional 4,853 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of FTI Consulting by 7,936.5% during the first quarter. GAMMA Investing LLC now owns 39,379 shares of the business services provider's stock worth $6,461,000 after purchasing an additional 38,889 shares in the last quarter. Hedge funds and other institutional investors own 99.36% of the company's stock.

Insider Activity at FTI Consulting

In other FTI Consulting news, CFO Ajay Sabherwal sold 5,236 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $164.60, for a total value of $861,845.60. Following the completion of the sale, the chief financial officer now owns 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.79% of the stock is owned by insiders.

FTI Consulting Price Performance

FCN stock traded down $2.61 during trading on Friday, reaching $158.80. 868,215 shares of the company were exchanged, compared to its average volume of 272,372. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.24 and a current ratio of 2.24. The stock's 50 day moving average price is $164.23 and its 200 day moving average price is $175.24. FTI Consulting, Inc. has a 52-week low of $151.75 and a 52-week high of $243.60. The company has a market cap of $5.45 billion, a P/E ratio of 21.72 and a beta of 0.19.

FTI Consulting (NYSE:FCN - Get Free Report) last issued its quarterly earnings data 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 13.07% and a net margin of 7.14%. The business had revenue of $898.28 million for the quarter, compared to the consensus estimate of $906.93 million. During the same period in the prior year, the business earned $2.23 earnings per share. The business's revenue was down 3.3% on a year-over-year basis. As a group, analysts predict that FTI Consulting, Inc. will post 8.55 earnings per share for the current fiscal year.

FTI Consulting announced that its board has initiated a stock buyback program on Thursday, April 24th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the business services provider to buy up to 6.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

FCN has been the topic of several analyst reports. Wall Street Zen cut FTI Consulting from a "buy" rating to a "hold" rating in a research note on Thursday, April 3rd. William Blair restated an "outperform" rating on shares of FTI Consulting in a report on Friday, April 25th. Finally, Truist Financial lowered FTI Consulting from a "buy" rating to a "hold" rating and reduced their price target for the company from $225.00 to $178.00 in a research report on Wednesday, April 2nd.

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.