State of Tennessee Department of Treasury Cuts Stake in FTI Consulting, Inc. (NYSE:FCN)

State of Tennessee Department of Treasury lessened its position in FTI Consulting, Inc. (NYSE:FCN - Free Report) by 31.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,050 shares of the business services provider's stock after selling 6,006 shares during the quarter. State of Tennessee Department of Treasury's holdings in FTI Consulting were worth $2,494,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in FCN. Pacer Advisors Inc. grew its holdings in shares of FTI Consulting by 9,995.1% during the 4th quarter. Pacer Advisors Inc. now owns 518,687 shares of the business services provider's stock valued at $99,137,000 after purchasing an additional 513,549 shares during the last quarter. Black Creek Investment Management Inc. boosted its position in 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 period. Mawer Investment Management Ltd. grew its stake in shares of FTI Consulting by 3.8% during the fourth quarter. Mawer Investment Management Ltd. now owns 4,065,609 shares of the business services provider's stock valued at $777,060,000 after buying an additional 149,276 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of FTI Consulting in the fourth quarter worth about $27,726,000. Finally, Norges Bank bought a new stake in shares of FTI Consulting in the 4th quarter valued at about $15,260,000. Hedge funds and other institutional investors own 99.36% of the company's stock.

Analyst Ratings Changes

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

FTI Consulting Trading Down 0.6 %

NYSE FCN traded down $1.06 during trading on Thursday, hitting $165.22. The company had a trading volume of 483,259 shares, compared to its average volume of 236,861. The company's fifty day moving average is $163.47 and its 200-day moving average is $186.32. The company has a market cap of $5.67 billion, a price-to-earnings ratio of 21.18 and a beta of 0.21. FTI Consulting, Inc. has a one year low of $151.75 and a one year high of $243.60.

FTI Consulting (NYSE:FCN - Get Free Report) last posted its quarterly earnings data 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. 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 for the quarter, compared to analysts' expectations of $906.93 million. During the same period in the previous year, the firm posted $2.23 EPS. The business's revenue was down 3.3% on a year-over-year basis. As a group, equities analysts anticipate that FTI Consulting, Inc. will post 8.55 EPS for the current year.

FTI Consulting announced that its board has authorized a share buyback program 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 repurchase up to 6.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its shares are undervalued.

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.