Algert Global LLC Sells 16,922 Shares of FTI Consulting, Inc. (NYSE:FCN)

by · The Markets Daily

Algert Global LLC lessened its stake in FTI Consulting, Inc. (NYSE:FCN – Free Report) by 32.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,518 shares of the business services provider’s stock after selling 16,922 shares during the quarter. Algert Global LLC owned approximately 0.10% of FTI Consulting worth $6,789,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new position in FTI Consulting during the 3rd quarter worth $35,000. GeoWealth Management LLC increased its position in shares of FTI Consulting by 46.0% during 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. Jones Financial Companies Lllp grew its position in shares of FTI Consulting by 394.0% during the 4th quarter. Jones Financial Companies Lllp now owns 247 shares of the business services provider’s stock valued at $47,000 after acquiring an additional 197 shares during the period. UMB Bank n.a. increased its stake in shares of FTI Consulting by 59.6% during the 4th quarter. UMB Bank n.a. now owns 265 shares of the business services provider’s stock worth $51,000 after purchasing an additional 99 shares during the last quarter. Finally, Quarry LP raised its holdings in shares of FTI Consulting by 115.4% in the 4th quarter. Quarry LP now owns 349 shares of the business services provider’s stock worth $67,000 after purchasing an additional 187 shares during the period. Hedge funds and other institutional investors own 99.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FCN. StockNews.com downgraded FTI Consulting from a “buy” rating to a “hold” rating in a research report on Thursday, April 3rd. William Blair restated an “outperform” rating on shares of FTI Consulting in a research note on Friday, April 25th. The Goldman Sachs Group dropped their price objective on shares of FTI Consulting from $194.00 to $173.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. Finally, Truist Financial downgraded shares of FTI Consulting from a “buy” rating to a “hold” rating and reduced their target price for the stock from $225.00 to $178.00 in a research note on Wednesday, April 2nd.

Check Out Our Latest Analysis on FCN

FTI Consulting Stock Performance

Shares of NYSE FCN opened at $166.56 on Monday. FTI Consulting, Inc. has a fifty-two week low of $151.75 and a fifty-two week high of $243.60. The stock has a market cap of $5.71 billion, a PE ratio of 21.35 and a beta of 0.21. The stock has a fifty day moving average of $163.50 and a 200-day moving average of $184.87.

FTI Consulting (NYSE:FCN – Get Free Report) last posted its earnings results on Thursday, April 24th. The business services provider reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.50. FTI Consulting had a return on equity of 13.15% and a net margin of 7.57%. The business had revenue of $898.28 million during the quarter, compared to analyst estimates of $906.93 million. During the same quarter in the previous year, the firm earned $2.23 EPS. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. On average, sell-side analysts predict that FTI Consulting, Inc. will post 8.55 EPS for the current year.

FTI Consulting declared that its board has authorized a stock buyback program on Thursday, April 24th that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to repurchase up to 6.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

About FTI Consulting

(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.

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