Allspring Global Investments Holdings LLC Trims Stake in FTI Consulting, Inc. (NYSE:FCN)

Allspring Global Investments Holdings LLC decreased its position in shares of FTI Consulting, Inc. (NYSE:FCN) by 70.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,716 shares of the business services provider’s stock after selling 8,904 shares during the period. Allspring Global Investments Holdings LLC’s holdings in FTI Consulting were worth $740,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FCN. Victory Capital Management Inc. grew its holdings in shares of FTI Consulting by 59.1% during the 3rd quarter. Victory Capital Management Inc. now owns 1,821,893 shares of the business services provider’s stock worth $325,044,000 after acquiring an additional 676,599 shares during the period. American Century Companies Inc. grew its holdings in shares of FTI Consulting by 6,793.8% during the 3rd quarter. American Century Companies Inc. now owns 192,407 shares of the business services provider’s stock worth $34,327,000 after acquiring an additional 189,616 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of FTI Consulting by 26.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 606,786 shares of the business services provider’s stock worth $108,257,000 after acquiring an additional 128,095 shares during the period. Van Berkom & Associates Inc. grew its holdings in shares of FTI Consulting by 39.8% during the 3rd quarter. Van Berkom & Associates Inc. now owns 389,062 shares of the business services provider’s stock worth $69,413,000 after acquiring an additional 110,845 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of FTI Consulting by 32.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 398,132 shares of the business services provider’s stock worth $71,031,000 after acquiring an additional 98,614 shares during the period. Hedge funds and other institutional investors own 99.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Truist Financial upped their price target on FTI Consulting from $240.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. StockNews.com downgraded FTI Consulting from a “buy” rating to a “hold” rating in a research note on Thursday, April 18th.

FTI Consulting Stock Up 0.4 %

FTI Consulting stock opened at $213.74 on Thursday. The company has a market capitalization of $7.62 billion, a P/E ratio of 27.70 and a beta of 0.11. The stock’s 50 day moving average is $206.25 and its 200 day moving average is $205.14. FTI Consulting, Inc. has a twelve month low of $167.39 and a twelve month high of $232.15.

FTI Consulting (NYSE:FCN) last issued its earnings results on Thursday, February 22nd. The business services provider reported $2.28 EPS for the quarter, beating the consensus estimate of $1.57 by $0.71. FTI Consulting had a return on equity of 14.94% and a net margin of 7.88%. The business had revenue of $924.68 million for the quarter, compared to the consensus estimate of $840.40 million. During the same period last year, the business posted $1.52 EPS. The company’s revenue was up 19.4% compared to the same quarter last year. As a group, equities analysts expect that FTI Consulting, Inc. will post 8.15 EPS for the current year.

Insider Buying and Selling at FTI Consulting

In other FTI Consulting news, Director Brenda J. Bacon bought 1,120 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were acquired at an average cost of $222.96 per share, for a total transaction of $249,715.20. Following the purchase, the director now owns 15,292 shares in the company, valued at approximately $3,409,504.32. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Paul Alderman Linton sold 27,000 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $206.10, for a total transaction of $5,564,700.00. Following the transaction, the insider now directly owns 44,284 shares of the company’s stock, valued at approximately $9,126,932.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Brenda J. Bacon purchased 1,120 shares of the stock in a transaction dated Friday, February 23rd. The shares were purchased at an average cost of $222.96 per share, for a total transaction of $249,715.20. Following the completion of the acquisition, the director now directly owns 15,292 shares in the company, valued at $3,409,504.32. The disclosure for this purchase can be found here. In the last three months, insiders have sold 36,715 shares of company stock worth $7,617,513. Insiders own 3.34% of the company’s stock.

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.