Viawealth LLC Buys New Shares in FTI Consulting, Inc. (NYSE:FCN)

Key Points

• Viawealth LLC has acquired a new stake in FTI Consulting, Inc., investing approximately $241,000 for 1,469 shares during the first quarter.
• In addition to Viawealth, other institutional investors have also increased their stakes in FTI Consulting, leading to institutional ownership of 99.36% of the company's stock.
• FTI Consulting has announced a $400 million share repurchase plan, indicating the board's belief that the stock may be undervalued.

Viawealth LLC acquired a new stake in shares of FTI Consulting, Inc. (NYSE:FCN - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,469 shares of the business services provider's stock, valued at approximately $241,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. bought a new position in FTI Consulting in the 1st quarter worth about $30,000. Signaturefd LLC increased its stake in FTI Consulting by 65.3% in the 1st quarter. Signaturefd LLC now owns 205 shares of the business services provider's stock worth $34,000 after acquiring an additional 81 shares during the last quarter. GeoWealth Management LLC increased its stake in FTI Consulting by 46.0% in the 4th quarter. GeoWealth Management LLC now owns 181 shares of the business services provider's stock worth $35,000 after acquiring an additional 57 shares during the last quarter. Quarry LP increased its stake in FTI Consulting by 115.4% in the 4th quarter. Quarry LP now owns 349 shares of the business services provider's stock worth $67,000 after acquiring an additional 187 shares during the last quarter. Finally, Curat Global LLC bought a new position in shares of FTI Consulting during the 1st quarter valued at about $89,000. Institutional investors own 99.36% of the company's stock.

Insider Activity

In other news, CFO Ajay Sabherwal sold 5,236 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $164.60, for a total value of $861,845.60. Following the completion of the transaction, the chief financial officer owned 24,777 shares of the company's stock, valued at approximately $4,078,294.20. This represents a 17.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.79% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on FCN. Truist Financial lowered FTI Consulting from a "buy" rating to a "hold" rating and reduced their price objective for the company 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 cut FTI Consulting from a "buy" rating to a "hold" rating in a report on Thursday, April 3rd.

FTI Consulting Trading Up 0.2%

NYSE FCN traded up $0.34 on Tuesday, hitting $171.06. The company's stock had a trading volume of 418,367 shares, compared to its average volume of 356,332. FTI Consulting, Inc. has a 52-week low of $151.75 and a 52-week high of $231.65. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.25. The company's 50-day simple moving average is $164.16 and its 200 day simple moving average is $169.69. The firm has a market cap of $5.54 billion, a P/E ratio of 24.09 and a beta of 0.19.

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 for the quarter, topping the consensus estimate of $1.87 by $0.26. FTI Consulting had a return on equity of 12.88% and a net margin of 6.82%. The business had revenue of $943.66 million during the quarter, compared to analysts' expectations of $928.38 million. During the same quarter last year, the business posted $2.34 EPS. The business's revenue was down .6% on a year-over-year basis. Research analysts predict that FTI Consulting, Inc. will post 8.55 EPS for the current fiscal year.

FTI Consulting declared that its Board of Directors has initiated a stock repurchase 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 buy up to 6.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its shares are 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.