Man Group plc Acquires 31,083 Shares of FTI Consulting, Inc. (NYSE:FCN)

Man Group plc increased its holdings in shares of FTI Consulting, Inc. (NYSE:FCN - Free Report) by 47.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 96,790 shares of the business services provider's stock after purchasing an additional 31,083 shares during the quarter. Man Group plc owned 0.27% of FTI Consulting worth $18,499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Mawer Investment Management Ltd. raised its position in FTI Consulting by 3.8% in the 4th quarter. Mawer Investment Management Ltd. now owns 4,065,609 shares of the business services provider's stock worth $777,060,000 after buying an additional 149,276 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of FTI Consulting by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 3,564,322 shares of the business services provider's stock worth $681,249,000 after acquiring an additional 23,419 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in shares of FTI Consulting by 86.4% during the fourth 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. Alliancebernstein L.P. lifted its position in FTI Consulting by 9.3% during the fourth quarter. Alliancebernstein L.P. now owns 740,858 shares of the business services provider's stock valued at $141,600,000 after purchasing an additional 63,163 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in FTI Consulting by 3.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 701,033 shares of the business services provider's stock valued at $133,987,000 after purchasing an additional 23,784 shares during the period. 99.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FCN. 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. Truist Financial cut 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 reissued an "outperform" rating on shares of FTI Consulting in a research report on Friday, April 25th. Finally, Wall Street Zen downgraded FTI Consulting from a "buy" rating to a "hold" rating in a research note on Thursday, April 3rd.

FTI Consulting Stock Performance

Shares of FTI Consulting stock traded up $0.76 on Thursday, hitting $166.22. 88,047 shares of the company's stock were exchanged, compared to its average volume of 248,299. FTI Consulting, Inc. has a 1 year low of $151.75 and a 1 year high of $243.60. The company has a 50-day simple moving average of $163.49 and a 200-day simple moving average of $181.24. The stock has a market capitalization of $5.70 billion, a PE ratio of 21.31 and a beta of 0.18.

FTI Consulting (NYSE:FCN - Get Free Report) last issued its quarterly earnings results 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. FTI Consulting had a return on equity of 13.15% and a net margin of 7.57%. The business had revenue of $898.28 million during the quarter, compared to analysts' expectations of $906.93 million. During the same quarter in the prior year, the business posted $2.23 earnings per share. The business's quarterly revenue was down 3.3% on a year-over-year basis. On average, analysts expect that FTI Consulting, Inc. will post 8.55 EPS for the current fiscal year.

FTI Consulting declared that its Board of Directors has approved a stock buyback plan on Thursday, April 24th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the business services provider to purchase up to 6.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, CFO Ajay Sabherwal sold 5,236 shares of FTI Consulting stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $164.60, for a total transaction of $861,845.60. Following the transaction, the chief financial officer now owns 24,777 shares in the company, valued at approximately $4,078,294.20. The trade was a 17.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.51% of the stock is currently owned by insiders.

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.