FTI Consulting, Inc. (NYSE:FCN) CFO Ajay Sabherwal Sells 5,236 Shares

FTI Consulting, Inc. (NYSE:FCN - Get Free Report) CFO Ajay Sabherwal sold 5,236 shares of the firm'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 transaction, the chief financial officer now directly owns 24,777 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which is available through the SEC website.

FTI Consulting Stock Up 1.7 %

NYSE FCN traded up $2.84 during trading hours on Thursday, hitting $167.93. 58,611 shares of the company were exchanged, compared to its average volume of 239,169. The stock has a market cap of $5.76 billion, a PE ratio of 21.53 and a beta of 0.18. The stock has a 50-day moving average price of $163.55 and a 200 day moving average price of $184.18. FTI Consulting, Inc. has a 52 week low of $151.75 and a 52 week high of $243.60.

FTI Consulting (NYSE:FCN - Get Free Report) last released 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. The firm had revenue of $898.28 million for the quarter, compared to analysts' expectations of $906.93 million. FTI Consulting had a return on equity of 13.15% and a net margin of 7.57%. The company's quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.23 earnings per share. As a group, sell-side analysts anticipate that FTI Consulting, Inc. will post 8.55 earnings per share for the current year.

FTI Consulting declared that its Board of Directors has approved a share 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 usually a sign that the company's board believes its stock is undervalued.

Institutional Investors Weigh In On FTI Consulting

A number of hedge funds and other institutional investors have recently bought and sold shares of FCN. CIBC Asset Management Inc raised its position in shares of FTI Consulting by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 1,083 shares of the business services provider's stock worth $207,000 after acquiring an additional 55 shares during the period. GeoWealth Management LLC lifted its position in shares of FTI Consulting by 46.0% during the fourth quarter. GeoWealth Management LLC now owns 181 shares of the business services provider's stock worth $35,000 after purchasing an additional 57 shares in the last quarter. Isthmus Partners LLC boosted its position in FTI Consulting by 2.7% in the 1st quarter. Isthmus Partners LLC now owns 2,402 shares of the business services provider's stock valued at $394,000 after buying an additional 63 shares during the period. Signaturefd LLC raised its stake in shares of FTI Consulting by 65.3% in the first quarter. Signaturefd LLC now owns 205 shares of the business services provider's stock valued at $34,000 after acquiring an additional 81 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in FTI Consulting by 2.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 3,435 shares of the business services provider's stock worth $657,000 after purchasing an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 99.36% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on FCN shares. Truist Financial cut shares of FTI Consulting from a "buy" rating to a "hold" rating and lowered their price target for the stock from $225.00 to $178.00 in a report on Wednesday, April 2nd. StockNews.com cut shares of FTI Consulting from a "buy" rating to a "hold" rating in a research note on Thursday, April 3rd. The Goldman Sachs Group dropped their price objective on FTI Consulting from $194.00 to $173.00 and set a "neutral" rating for the company in a report on Friday, February 21st. Finally, William Blair restated an "outperform" rating on shares of FTI Consulting in a research note on Friday, April 25th.

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.