Voya Investment Management LLC Increases Stock Holdings in FTI Consulting, Inc. (NYSE:FCN)

Voya Investment Management LLC raised its stake in shares of FTI Consulting, Inc. (NYSE:FCN - Free Report) by 93.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,670 shares of the business services provider's stock after buying an additional 4,671 shares during the quarter. Voya Investment Management LLC's holdings in FTI Consulting were worth $1,848,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. CIBC Asset Management Inc boosted its stake in FTI Consulting by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 1,083 shares of the business services provider's stock worth $207,000 after buying an additional 55 shares during the period. GeoWealth Management LLC increased 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 purchasing an additional 57 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in FTI Consulting by 2.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 3,435 shares of the business services provider's stock worth $657,000 after acquiring an additional 85 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of FTI Consulting by 3.9% during the fourth quarter. Sequoia Financial Advisors LLC now owns 2,389 shares of the business services provider's stock worth $457,000 after purchasing an additional 89 shares in the last quarter. Finally, UMB Bank n.a. boosted its stake 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 valued at $51,000 after purchasing an additional 99 shares during the period. 99.36% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Ajay Sabherwal sold 5,236 shares of the company's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $164.60, for a total transaction 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. This represents a 17.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.51% of the company's stock.

FTI Consulting Price Performance

Shares of FCN stock traded down $1.01 during midday trading on Tuesday, reaching $165.41. 389,231 shares of the company traded hands, compared to its average volume of 239,042. FTI Consulting, Inc. has a 1-year low of $151.75 and a 1-year high of $243.60. The firm has a market cap of $5.67 billion, a PE ratio of 21.21 and a beta of 0.18. The firm's 50 day simple moving average is $163.55 and its two-hundred day simple moving average is $184.31.

FTI Consulting (NYSE:FCN - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.29 earnings per share for the quarter, topping analysts' consensus estimates of $1.79 by $0.50. The business 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 was down 3.3% on a year-over-year basis. During the same period last year, the company posted $2.23 EPS. As a group, research analysts anticipate that FTI Consulting, Inc. will post 8.55 earnings per share for the current fiscal year.

FTI Consulting announced that its board has initiated a stock repurchase 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 reacquire up to 6.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. William Blair reaffirmed an "outperform" rating on shares of FTI Consulting in a report on Friday, April 25th. Truist Financial downgraded shares of FTI Consulting from a "buy" rating to a "hold" rating and decreased their price objective for the company from $225.00 to $178.00 in a research note on Wednesday, April 2nd. StockNews.com cut FTI Consulting from a "buy" rating to a "hold" rating in a research report on Thursday, April 3rd. Finally, The Goldman Sachs Group decreased their target price on FTI Consulting from $194.00 to $173.00 and set a "neutral" rating for the company in a research report 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.