State of Alaska Department of Revenue Acquires 8,100 Shares of FTI Consulting, Inc. (NYSE:FCN)

State of Alaska Department of Revenue boosted its holdings in shares of FTI Consulting, Inc. (NYSE:FCN - Free Report) by 130.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,316 shares of the business services provider's stock after buying an additional 8,100 shares during the quarter. State of Alaska Department of Revenue's holdings in FTI Consulting were worth $2,348,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FCN. Charles Schwab Investment Management Inc. lifted its holdings in FTI Consulting by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 438,808 shares of the business services provider's stock valued at $83,869,000 after purchasing an additional 8,032 shares in the last quarter. Isthmus Partners LLC bought a new position in FTI Consulting during the fourth quarter valued at approximately $447,000. Ieq Capital LLC grew its holdings in FTI Consulting by 214.4% during the 4th quarter. Ieq Capital LLC now owns 6,074 shares of the business services provider's stock valued at $1,161,000 after buying an additional 4,142 shares in the last quarter. California Public Employees Retirement System raised its holdings in shares of FTI Consulting by 3.4% during the 4th quarter. California Public Employees Retirement System now owns 146,858 shares of the business services provider's stock worth $28,069,000 after acquiring an additional 4,853 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of FTI Consulting by 7,936.5% during the 1st quarter. GAMMA Investing LLC now owns 39,379 shares of the business services provider's stock valued at $6,461,000 after acquiring an additional 38,889 shares during the last quarter. 99.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related 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 completion of the sale, the chief financial officer now owns 24,777 shares in the company, valued at $4,078,294.20. This trade represents a 17.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.79% of the stock is currently owned by corporate insiders.

FTI Consulting Trading Down 0.9%

Shares of NYSE FCN traded down $1.48 during trading hours on Thursday, hitting $160.20. 565,683 shares of the company traded hands, compared to its average volume of 276,075. The company's 50 day moving average price is $163.91 and its 200 day moving average price is $174.37. FTI Consulting, Inc. has a 12 month low of $151.75 and a 12 month high of $243.60. The stock has a market capitalization of $5.49 billion, a price-to-earnings ratio of 21.91 and a beta of 0.19. 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 (NYSE:FCN - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.29 EPS for the quarter, topping the consensus estimate of $1.79 by $0.50. FTI Consulting had a net margin of 7.14% and a return on equity of 13.07%. The company had revenue of $898.28 million during the quarter, compared to analyst estimates of $906.93 million. During the same period in the previous year, the firm earned $2.23 earnings per share. FTI Consulting's quarterly revenue was down 3.3% compared to the same quarter last year. On average, equities research analysts anticipate that FTI Consulting, Inc. will post 8.55 earnings per share for the current fiscal year.

FTI Consulting announced that its Board of Directors has authorized a stock buyback program 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 programs are generally a sign that the company's management believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Truist Financial cut shares of FTI Consulting from a "buy" rating to a "hold" rating and reduced their price target for the stock from $225.00 to $178.00 in a research report on Wednesday, April 2nd. William Blair restated an "outperform" rating on shares of FTI Consulting in a report on Friday, April 25th. Finally, Wall Street Zen downgraded shares of FTI Consulting from a "buy" rating to a "hold" rating in a 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.