Hsbc Holdings PLC Acquires 3,156 Shares of FTI Consulting, Inc. (NYSE:FCN)

Hsbc Holdings PLC raised its holdings in FTI Consulting, Inc. (NYSE:FCN - Free Report) by 56.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,739 shares of the business services provider's stock after acquiring an additional 3,156 shares during the quarter. Hsbc Holdings PLC's holdings in FTI Consulting were worth $1,664,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Wilmington Savings Fund Society FSB bought a new stake in shares of FTI Consulting in the 3rd quarter valued at $35,000. GeoWealth Management LLC raised its holdings 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 acquiring an additional 57 shares during the period. Jones Financial Companies Lllp lifted its stake in FTI Consulting by 394.0% in the 4th quarter. Jones Financial Companies Lllp now owns 247 shares of the business services provider's stock valued at $47,000 after acquiring an additional 197 shares in the last quarter. UMB Bank n.a. lifted its position in shares of FTI Consulting by 59.6% in the fourth quarter. UMB Bank n.a. now owns 265 shares of the business services provider's stock worth $51,000 after purchasing an additional 99 shares in the last quarter. Finally, Versant Capital Management Inc boosted its holdings in FTI Consulting by 51.4% during the fourth quarter. Versant Capital Management Inc now owns 471 shares of the business services provider's stock worth $90,000 after purchasing an additional 160 shares during the last quarter. 99.36% of the stock is owned by institutional investors.

FTI Consulting Trading Down 0.9 %

NYSE:FCN traded down $1.50 on Tuesday, hitting $164.92. The company's stock had a trading volume of 151,572 shares, compared to its average volume of 362,281. FTI Consulting, Inc. has a one year low of $151.75 and a one year high of $243.60. The stock has a fifty day moving average of $163.54 and a two-hundred day moving average of $184.44. The firm has a market capitalization of $5.65 billion, a P/E ratio of 21.14 and a beta of 0.18.

FTI Consulting (NYSE:FCN - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.29 EPS for the quarter, topping analysts' consensus estimates of $1.79 by $0.50. The firm had revenue of $898.28 million during the quarter, compared to analysts' expectations of $906.93 million. FTI Consulting had a net margin of 7.57% and a return on equity of 13.15%. The company's revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.23 earnings per share. As a group, sell-side analysts anticipate that FTI Consulting, Inc. will post 8.55 EPS for the current year.

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

Insider Activity at FTI Consulting

In related news, CFO Ajay Sabherwal sold 5,236 shares of the business'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 completion of the sale, the chief financial officer now directly owns 24,777 shares in the company, valued at $4,078,294.20. The trade was a 17.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.51% of the stock is owned by company insiders.

Analyst Ratings Changes

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

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.