State of Alaska Department of Revenue Boosts Stake in FTI Consulting, Inc. (NYSE:FCN)

State of Alaska Department of Revenue lifted its position in FTI Consulting, Inc. (NYSE:FCN - Free Report) by 130.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,316 shares of the business services provider's stock after purchasing an additional 8,100 shares during the quarter. State of Alaska Department of Revenue's holdings in FTI Consulting were worth $2,348,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Mayfair Advisory Group LLC raised its position in FTI Consulting by 7.3% during the first quarter. Mayfair Advisory Group LLC now owns 1,309 shares of the business services provider's stock valued at $215,000 after acquiring an additional 89 shares in the last quarter. Mountain Pacific Investment Advisers LLC raised its position in FTI Consulting by 13.4% during the first quarter. Mountain Pacific Investment Advisers LLC now owns 106,415 shares of the business services provider's stock valued at $17,461,000 after acquiring an additional 12,547 shares in the last quarter. Exchange Traded Concepts LLC raised its position in FTI Consulting by 36.6% during the first quarter. Exchange Traded Concepts LLC now owns 4,692 shares of the business services provider's stock valued at $770,000 after acquiring an additional 1,257 shares in the last quarter. CX Institutional purchased a new position in FTI Consulting during the first quarter valued at approximately $2,734,000. Finally, Assenagon Asset Management S.A. grew its holdings in FTI Consulting by 130.4% in the first quarter. Assenagon Asset Management S.A. now owns 29,100 shares of the business services provider's stock valued at $4,775,000 after purchasing an additional 16,471 shares during the period. 99.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at FTI Consulting

In related news, CFO Ajay Sabherwal sold 5,236 shares of FTI Consulting stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $164.60, for a total transaction of $861,845.60. Following the transaction, the chief financial officer now owns 24,777 shares in the company, valued at approximately $4,078,294.20. This trade represents a 17.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.79% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on FCN. Wall Street Zen lowered FTI Consulting from a "buy" rating to a "hold" rating in a report on Thursday, April 3rd. Truist Financial lowered FTI Consulting from a "buy" rating to a "hold" rating and dropped their price objective for the company from $225.00 to $178.00 in a report on Wednesday, April 2nd. Finally, William Blair reissued an "outperform" rating on shares of FTI Consulting in a report on Friday, April 25th.

FTI Consulting Price Performance

Shares of NYSE:FCN traded up $2.42 during trading on Monday, reaching $161.19. The stock had a trading volume of 497,164 shares, compared to its average volume of 273,271. 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 business has a fifty day moving average price of $164.11 and a 200-day moving average price of $174.81. The stock has a market cap of $5.53 billion, a PE ratio of 22.05 and a beta of 0.19. FTI Consulting, Inc. has a 1-year low of $151.75 and a 1-year high of $243.60.

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 (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 analyst estimates of $906.93 million. FTI Consulting had a return on equity of 13.07% and a net margin of 7.14%. The business's revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.23 earnings per share. On average, equities analysts forecast that FTI Consulting, Inc. will post 8.55 earnings per share for the current fiscal year.

FTI Consulting declared that its Board of Directors has approved a share buyback program on Thursday, April 24th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the business services provider to reacquire up to 6.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board believes its stock is undervalued.

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.