FTI Consulting, Inc. (NYSE:FCN) Short Interest Up 26.9% in May

FTI Consulting, Inc. (NYSE:FCN - Get Free Report) saw a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 1,200,000 shares, a growth of 26.9% from the May 15th total of 945,700 shares. Approximately 3.6% of the shares of the stock are short sold. Based on an average trading volume of 428,900 shares, the short-interest ratio is presently 2.8 days.

FTI Consulting Stock Down 0.0%

Shares of FTI Consulting stock traded down $0.01 during midday trading on Wednesday, hitting $161.38. The company had a trading volume of 376,688 shares, compared to its average volume of 268,400. FTI Consulting has a 52-week low of $151.75 and a 52-week high of $243.60. 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 stock has a market capitalization of $5.53 billion, a P/E ratio of 22.08 and a beta of 0.19. The company has a 50 day moving average of $164.33 and a 200 day moving average of $176.14.

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 for the quarter, beating the consensus estimate of $1.79 by $0.50. The firm had revenue of $898.28 million during the quarter, compared to the consensus estimate of $906.93 million. FTI Consulting had a return on equity of 13.07% and a net margin of 7.14%. The company's revenue was down 3.3% on a year-over-year basis. During the same period last year, the company earned $2.23 earnings per share. On average, equities analysts predict that FTI Consulting will post 8.55 earnings per share for the current fiscal year.

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

Insider Transactions at FTI Consulting

In other FTI Consulting news, CFO Ajay Sabherwal sold 5,236 shares of the company's 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 sale, the chief financial officer now owns 24,777 shares of the company's stock, valued at $4,078,294.20. This represents a 17.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.79% of the stock is currently owned by insiders.

Institutional Investors Weigh In On FTI Consulting

Several institutional investors and hedge funds have recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. boosted its stake in FTI Consulting by 86.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,018,868 shares of the business services provider's stock valued at $194,737,000 after purchasing an additional 472,245 shares during the last quarter. Black Creek Investment Management Inc. boosted its position in shares of FTI Consulting by 166.1% during the fourth quarter. Black Creek Investment Management Inc. now owns 652,980 shares of the business services provider's stock valued at $124,804,000 after buying an additional 407,631 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of FTI Consulting by 1,668.1% during the first quarter. Jacobs Levy Equity Management Inc. now owns 310,157 shares of the business services provider's stock valued at $50,891,000 after buying an additional 292,615 shares during the last quarter. Victory Capital Management Inc. increased its holdings in FTI Consulting by 11.0% in the 1st quarter. Victory Capital Management Inc. now owns 1,549,781 shares of the business services provider's stock worth $254,288,000 after buying an additional 153,523 shares in the last quarter. Finally, Mawer Investment Management Ltd. lifted its stake in FTI Consulting by 3.8% during the 4th quarter. Mawer Investment Management Ltd. now owns 4,065,609 shares of the business services provider's stock valued at $777,060,000 after acquiring an additional 149,276 shares during the period. Institutional investors own 99.36% of the company's stock.

Analyst Ratings Changes

FCN has been the subject of a number of analyst reports. The Goldman Sachs Group dropped their target price on shares of FTI Consulting from $194.00 to $173.00 and set a "neutral" rating for the company in a report on Friday, February 21st. Truist Financial cut FTI Consulting from a "buy" rating to a "hold" rating and lowered their target price for the company from $225.00 to $178.00 in a research note on Wednesday, April 2nd. William Blair reaffirmed an "outperform" rating on shares of FTI Consulting in a research note on Friday, April 25th. Finally, Wall Street Zen lowered FTI Consulting from a "buy" rating to a "hold" rating in a research report on Thursday, April 3rd.

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.

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