Robertson Stephens Wealth Management LLC Trims Stock Holdings in FTI Consulting, Inc. (NYSE:FCN)

Robertson Stephens Wealth Management LLC lowered its stake in shares of FTI Consulting, Inc. (NYSE:FCNFree Report) by 32.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,326 shares of the business services provider’s stock after selling 637 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in FTI Consulting were worth $218,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its holdings in FTI Consulting by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 438,808 shares of the business services provider’s stock valued at $83,869,000 after purchasing an additional 8,032 shares in the last quarter. Isthmus Partners LLC acquired a new position in shares of FTI Consulting in the fourth quarter valued at approximately $447,000. Ieq Capital LLC lifted its stake in shares of FTI Consulting by 214.4% during the fourth quarter. Ieq Capital LLC now owns 6,074 shares of the business services provider’s stock valued at $1,161,000 after buying an additional 4,142 shares during the period. California Public Employees Retirement System lifted its stake in shares of FTI Consulting by 3.4% during the fourth quarter. California Public Employees Retirement System now owns 146,858 shares of the business services provider’s stock valued at $28,069,000 after buying an additional 4,853 shares during the period. Finally, GAMMA Investing LLC boosted its position in FTI Consulting by 7,936.5% during the first quarter. GAMMA Investing LLC now owns 39,379 shares of the business services provider’s stock worth $6,461,000 after acquiring an additional 38,889 shares during the last quarter. Hedge funds and other institutional investors own 99.36% of the company’s stock.

Insider Buying and Selling at FTI Consulting

In other news, CFO Ajay Sabherwal sold 5,236 shares of the firm’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $164.60, for a total value of $861,845.60. Following the transaction, the chief financial officer now directly owns 24,777 shares in the company, valued at $4,078,294.20. This trade represents a 17.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.79% of the stock is owned by company insiders.

FTI Consulting Stock Performance

NYSE:FCN opened at $161.38 on Friday. The company has a market cap of $5.53 billion, a P/E ratio of 22.08 and a beta of 0.19. The firm’s 50 day moving average is $164.34 and its two-hundred day moving average is $175.76. FTI Consulting, Inc. has a fifty-two week low of $151.75 and a fifty-two week high of $243.60. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.07.

FTI Consulting (NYSE:FCNGet Free Report) last released its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.29 EPS 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 the consensus estimate of $906.93 million. FTI Consulting had a return on equity of 13.07% and a net margin of 7.14%. The business’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.23 EPS. Analysts expect that FTI Consulting, Inc. will post 8.55 EPS for the current year.

FTI Consulting announced that its board has initiated a share buyback program on Thursday, April 24th that allows the company to buyback $400.00 million in shares. This buyback authorization allows the business services provider to buy up to 6.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have weighed in on FCN shares. William Blair reiterated an “outperform” rating on shares of FTI Consulting in a report on Friday, April 25th. Truist Financial lowered FTI Consulting from a “buy” rating to a “hold” rating and dropped their target price for the company from $225.00 to $178.00 in a research note on Wednesday, April 2nd. Wall Street Zen downgraded FTI Consulting from a “buy” rating to a “hold” rating in a research report on Thursday, April 3rd. Finally, The Goldman Sachs Group lowered their price target on FTI Consulting from $194.00 to $173.00 and set a “neutral” rating for the company in a report on Friday, February 21st.

Check Out Our Latest Analysis on FTI Consulting

FTI Consulting Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for FTI Consulting (NYSE:FCN)

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