Short Interest in FTI Consulting, Inc. (NYSE:FCN) Increases By 35.2%

FTI Consulting, Inc. (NYSE:FCN - Get Free Report) saw a significant growth in short interest in April. As of April 15th, there was short interest totalling 592,100 shares, a growth of 35.2% from the March 31st total of 437,900 shares. Currently, 1.7% of the company's stock are sold short. Based on an average trading volume of 385,900 shares, the days-to-cover ratio is currently 1.5 days.

Hedge Funds Weigh In On FTI Consulting

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB acquired a new stake in shares of FTI Consulting in the third quarter valued at $35,000. GeoWealth Management LLC boosted its position in shares of FTI Consulting by 46.0% during the 4th quarter. GeoWealth Management LLC now owns 181 shares of the business services provider's stock valued at $35,000 after purchasing an additional 57 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in FTI Consulting during the first quarter worth approximately $30,000. Signaturefd LLC grew its position in FTI Consulting by 65.3% in the first quarter. Signaturefd LLC now owns 205 shares of the business services provider's stock worth $34,000 after buying an additional 81 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its holdings in shares of FTI Consulting by 394.0% in the fourth quarter. Jones Financial Companies Lllp now owns 247 shares of the business services provider's stock valued at $47,000 after buying an additional 197 shares in the last quarter. Institutional investors own 99.36% of the company's stock.

FTI Consulting Price Performance

FCN traded up $1.35 during trading hours on Friday, hitting $166.56. 286,162 shares of the stock were exchanged, compared to its average volume of 237,202. The stock has a market cap of $5.71 billion, a price-to-earnings ratio of 21.35 and a beta of 0.21. The stock has a 50-day simple moving average of $163.50 and a 200-day simple moving average of $185.50. FTI Consulting has a 12 month low of $151.75 and a 12 month 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.79 by $0.50. FTI Consulting had a net margin of 7.57% and a return on equity of 13.15%. The company had revenue of $898.28 million for the quarter, compared to the consensus estimate of $906.93 million. During the same period last year, the firm posted $2.23 EPS. The company's revenue for the quarter was down 3.3% on a year-over-year basis. Sell-side analysts expect that FTI Consulting will post 8.55 EPS for the current year.

FTI Consulting declared that its board has initiated a stock buyback program on Thursday, April 24th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the business services provider to buy up to 6.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

FCN has been the topic of several analyst reports. William Blair restated an "outperform" rating on shares of FTI Consulting in a report on Friday, April 25th. StockNews.com cut shares of FTI Consulting from a "buy" rating to a "hold" rating in a report on Thursday, April 3rd. Truist Financial downgraded shares of FTI Consulting from a "buy" rating to a "hold" rating and dropped their target price for the stock from $225.00 to $178.00 in a research report on Wednesday, April 2nd. Finally, The Goldman Sachs Group reduced their price target on shares of FTI Consulting from $194.00 to $173.00 and set a "neutral" rating on the stock in a research report on Friday, February 21st.

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.

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