Pinebridge Investments L.P. Has $2.28 Million Stock Position in FTI Consulting, Inc. (NYSE:FCN)

Pinebridge Investments L.P. increased its stake in FTI Consulting, Inc. (NYSE:FCN - Free Report) by 42.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,952 shares of the business services provider's stock after purchasing an additional 3,577 shares during the quarter. Pinebridge Investments L.P.'s holdings in FTI Consulting were worth $2,284,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB bought a new stake in FTI Consulting during the third quarter worth approximately $35,000. GeoWealth Management LLC lifted its holdings in FTI Consulting by 46.0% in the 4th quarter. GeoWealth Management LLC now owns 181 shares of the business services provider's stock valued at $35,000 after acquiring an additional 57 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of FTI Consulting by 394.0% during the 4th quarter. Jones Financial Companies Lllp now owns 247 shares of the business services provider's stock valued at $47,000 after purchasing an additional 197 shares in the last quarter. UMB Bank n.a. grew its stake in shares of FTI Consulting by 59.6% in the 4th 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 during the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of FTI Consulting by 51.4% in the 4th 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 in the last quarter. Institutional investors own 99.36% of the company's stock.

Analyst Ratings Changes

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

FTI Consulting Price Performance

FCN traded up $1.84 on Wednesday, reaching $166.16. 460,326 shares of the company traded hands, compared to its average volume of 236,320. The company has a market cap of $5.88 billion, a price-to-earnings ratio of 21.30 and a beta of 0.21. The stock's 50 day moving average price is $163.43 and its 200-day moving average price is $186.46. 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 posted its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.29 EPS for the quarter, beating the consensus estimate of $1.79 by $0.50. The business had revenue of $898.28 million for 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%. FTI Consulting's revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.23 EPS. As a group, equities research analysts forecast that FTI Consulting, Inc. will post 8.55 earnings per share for the current fiscal year.

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

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.