Victory Capital Management Inc. Buys 153,523 Shares of FTI Consulting, Inc. (NYSE:FCN)

Victory Capital Management Inc. raised its holdings in shares of FTI Consulting, Inc. (NYSE:FCN - Free Report) by 11.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,549,781 shares of the business services provider's stock after buying an additional 153,523 shares during the quarter. Victory Capital Management Inc. owned about 4.52% of FTI Consulting worth $254,288,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Principal Financial Group Inc. lifted its holdings in shares of FTI Consulting by 0.4% during the first quarter. Principal Financial Group Inc. now owns 81,271 shares of the business services provider's stock worth $13,335,000 after buying an additional 302 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of FTI Consulting during the first quarter worth approximately $30,000. Black Diamond Financial LLC acquired a new position in shares of FTI Consulting during the first quarter worth approximately $328,000. California Public Employees Retirement System lifted its holdings in shares of 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 buying an additional 4,853 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings 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 buying an additional 38,889 shares during the last quarter. 99.36% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other FTI Consulting news, CFO Ajay Sabherwal sold 5,236 shares of the company's stock in a transaction 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 sale, the chief financial officer directly owned 24,777 shares in the company, valued at $4,078,294.20. This represents a 17.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.79% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. 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 cut their target price for the company from $225.00 to $178.00 in a research note on Wednesday, April 2nd. Finally, William Blair restated an "outperform" rating on shares of FTI Consulting in a research note on Friday, April 25th.

FTI Consulting Stock Performance

Shares of NYSE FCN traded down $1.83 during trading hours on Friday, reaching $164.39. The stock had a trading volume of 213,884 shares, compared to its average volume of 285,674. The business's fifty day moving average is $163.69 and its two-hundred day moving average is $170.97. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.24 and a quick ratio of 2.24. The company has a market cap of $5.64 billion, a price-to-earnings ratio of 22.49 and a beta of 0.19. FTI Consulting, Inc. has a twelve month low of $151.75 and a twelve month high of $243.60.

FTI Consulting (NYSE:FCN - Get Free Report) last issued its earnings results on Thursday, April 24th. The business services provider reported $2.29 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $906.93 million. During the same period in the prior year, the company posted $2.23 earnings per share. FTI Consulting's revenue was down 3.3% on a year-over-year basis. As a group, research analysts expect that FTI Consulting, Inc. will post 8.55 EPS for the current year.

FTI Consulting announced that its Board of Directors has authorized a share repurchase plan on Thursday, April 24th that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to repurchase up to 6.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

About FTI Consulting

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.