TD Asset Management Inc Lowers Stake in FTI Consulting, Inc. (NYSE:FCN)

Key Points

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TD Asset Management Inc cut its stake in shares of FTI Consulting, Inc. (NYSE:FCN - Free Report) by 52.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 10,100 shares of the business services provider's stock after selling 11,000 shares during the period. TD Asset Management Inc's holdings in FTI Consulting were worth $1,657,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FCN. GeoWealth Management LLC boosted its stake in shares of FTI Consulting by 46.0% in the fourth quarter. GeoWealth Management LLC now owns 181 shares of the business services provider's stock valued at $35,000 after purchasing an additional 57 shares during the period. Isthmus Partners LLC lifted its holdings in FTI Consulting by 2.7% during the 1st quarter. Isthmus Partners LLC now owns 2,402 shares of the business services provider's stock worth $394,000 after buying an additional 63 shares in the last quarter. Signaturefd LLC boosted its position in FTI Consulting by 65.3% in the 1st quarter. Signaturefd LLC now owns 205 shares of the business services provider's stock valued at $34,000 after buying an additional 81 shares during the period. Mayfair Advisory Group LLC grew its stake in shares of FTI Consulting by 7.3% in the first quarter. Mayfair Advisory Group LLC now owns 1,309 shares of the business services provider's stock worth $215,000 after acquiring an additional 89 shares in the last quarter. Finally, State of Michigan Retirement System increased its position in shares of FTI Consulting by 1.2% during the first quarter. State of Michigan Retirement System now owns 8,504 shares of the business services provider's stock worth $1,395,000 after acquiring an additional 100 shares during the period. 99.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, William Blair reissued an "outperform" rating on shares of FTI Consulting in a research note on Friday, April 25th.

FTI Consulting Stock Up 0.7%

FCN stock traded up $1.22 during midday trading on Thursday, reaching $169.24. 81,165 shares of the company were exchanged, compared to its average volume of 374,209. The company has a market cap of $5.48 billion, a price-to-earnings ratio of 23.84 and a beta of 0.18. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.11 and a current ratio of 2.11. FTI Consulting, Inc. has a 1-year low of $151.75 and a 1-year high of $231.65. The stock's 50-day simple moving average is $164.40 and its 200 day simple moving average is $168.78.

FTI Consulting (NYSE:FCN - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The business services provider reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.26. FTI Consulting had a net margin of 6.82% and a return on equity of 12.88%. The company had revenue of $943.66 million during the quarter, compared to the consensus estimate of $928.38 million. During the same quarter in the prior year, the firm posted $2.34 earnings per share. FTI Consulting's revenue for the quarter was down .6% on a year-over-year basis. On average, equities analysts forecast that FTI Consulting, Inc. will post 8.55 earnings per share for the current year.

FTI Consulting announced that its Board of Directors has authorized a share buyback plan on Thursday, April 24th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the business services provider to buy up to 6.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's management believes its shares are undervalued.

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.