Victory Capital Management Inc. reduced its position in FTI Consulting, Inc. (NYSE:FCN) by 38.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 627,681 shares of the business services provider’s stock after selling 392,386 shares during the quarter. Victory Capital Management Inc. owned approximately 1.64% of FTI Consulting worth $45,940,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the stock. State Board of Administration of Florida Retirement System lifted its position in FTI Consulting by 2.2% in the second quarter. State Board of Administration of Florida Retirement System now owns 32,432 shares of the business services provider’s stock worth $1,961,000 after purchasing an additional 686 shares during the period. Piedmont Investment Advisors LLC lifted its position in FTI Consulting by 10.0% in the second quarter. Piedmont Investment Advisors LLC now owns 8,798 shares of the business services provider’s stock worth $532,000 after purchasing an additional 797 shares during the period. Aperio Group LLC lifted its position in FTI Consulting by 14.1% in the second quarter. Aperio Group LLC now owns 7,460 shares of the business services provider’s stock worth $451,000 after purchasing an additional 924 shares during the period. Vident Investment Advisory LLC lifted its position in FTI Consulting by 1.5% in the second quarter. Vident Investment Advisory LLC now owns 70,348 shares of the business services provider’s stock worth $4,255,000 after purchasing an additional 1,053 shares during the period. Finally, Rhumbline Advisers lifted its position in FTI Consulting by 1.3% in the second quarter. Rhumbline Advisers now owns 92,481 shares of the business services provider’s stock worth $5,593,000 after purchasing an additional 1,159 shares during the period. 95.07% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently commented on the company. ValuEngine cut FTI Consulting from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Zacks Investment Research raised FTI Consulting from a “hold” rating to a “strong-buy” rating and set a $79.00 target price for the company in a research report on Monday, October 29th.
In other FTI Consulting news, VP Matthew Pachman sold 1,500 shares of FTI Consulting stock in a transaction on Friday, October 26th. The stock was sold at an average price of $73.14, for a total transaction of $109,710.00. Following the completion of the transaction, the vice president now directly owns 1,686 shares of the company’s stock, valued at $123,314.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Nicholas C. Fanandakis sold 13,522 shares of FTI Consulting stock in a transaction on Tuesday, October 30th. The shares were sold at an average price of $69.52, for a total value of $940,049.44. Following the transaction, the director now directly owns 19,943 shares of the company’s stock, valued at $1,386,437.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,382 shares of company stock valued at $2,858,955. Company insiders own 2.19% of the company’s stock.
Shares of FCN stock opened at $68.95 on Friday. The firm has a market capitalization of $2.61 billion, a P/E ratio of 29.72 and a beta of 0.06. FTI Consulting, Inc. has a one year low of $39.57 and a one year high of $81.91. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.64 and a quick ratio of 1.64.
FTI Consulting (NYSE:FCN) last issued its quarterly earnings data on Thursday, October 25th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.42. The company had revenue of $513.01 million during the quarter, compared to analysts’ expectations of $471.78 million. FTI Consulting had a return on equity of 11.91% and a net margin of 9.73%. As a group, sell-side analysts predict that FTI Consulting, Inc. will post 3.75 earnings per share for the current fiscal year.
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About FTI Consulting
FTI Consulting, Inc provides business advisory services to manage change, mitigate risk, and resolve disputes worldwide. The company's Corporate Finance & Restructuring segment provides turnaround and restructuring, business transformation, interim management, valuation and financial advisory, transaction, dispute advisory, and tax services, as well as mergers and acquisitions (M&A), and M&A integration services.
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