Prana Capital Management LP bought a new position in FTI Consulting, Inc. (NYSE:FCN) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 55,109 shares of the business services provider’s stock, valued at approximately $2,367,000. FTI Consulting makes up approximately 0.8% of Prana Capital Management LP’s investment portfolio, making the stock its 29th largest holding. Prana Capital Management LP owned about 0.15% of FTI Consulting as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of FCN. Great West Life Assurance Co. Can increased its holdings in shares of FTI Consulting by 896.7% in the 3rd quarter. Great West Life Assurance Co. Can now owns 246,405 shares of the business services provider’s stock worth $8,747,000 after purchasing an additional 221,682 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of FTI Consulting in the 4th quarter worth $7,022,000. Brandes Investment Partners LP boosted its stake in shares of FTI Consulting by 47.9% in the 3rd quarter. Brandes Investment Partners LP now owns 406,475 shares of the business services provider’s stock worth $15,514,000 after buying an additional 131,685 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of FTI Consulting by 69.1% in the 3rd quarter. Principal Financial Group Inc. now owns 298,208 shares of the business services provider’s stock worth $10,580,000 after buying an additional 121,826 shares during the last quarter. Finally, Boston Partners boosted its stake in shares of FTI Consulting by 21.3% in the 4th quarter. Boston Partners now owns 675,935 shares of the business services provider’s stock worth $29,038,000 after buying an additional 118,774 shares during the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently issued reports on FCN shares. Zacks Investment Research upgraded FTI Consulting from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research note on Tuesday, January 2nd. ValuEngine upgraded FTI Consulting from a “hold” rating to a “buy” rating in a research note on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $45.50.
FTI Consulting (NYSE:FCN) last released its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.28. The firm had revenue of $467.71 million for the quarter, compared to the consensus estimate of $450.52 million. FTI Consulting had a return on equity of 7.80% and a net margin of 5.97%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the business posted $0.24 EPS. research analysts predict that FTI Consulting, Inc. will post 2.53 earnings per share for the current year.
FTI Consulting declared that its board has authorized a stock buyback plan on Monday, December 4th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.
In related news, CAO Catherine M. Freeman sold 6,088 shares of FTI Consulting stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $48.44, for a total transaction of $294,902.72. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.33% of the stock is currently owned by insiders.
About FTI Consulting
FTI Consulting, Inc is a business advisory company. The Company operates through five segments: Corporate Finance & Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology and Strategic Communications. The Company provides advice and services, such as restructuring (including bankruptcy), capital formation and indebtedness, interim business management, performance improvements, forensic accounting and litigation matters, international arbitrations, mergers and acquisitions (M&A), antitrust and competition matters, securities litigation, electronic discovery (or e-discovery), management and retrieval of electronically stored information (ESI), reputation management and strategic communications.
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