Engineers Gate Manager LP acquired a new stake in shares of FTI Consulting, Inc. (NYSE:FCN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,672 shares of the business services provider’s stock, valued at approximately $306,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of FCN. Copper Rock Capital Partners LLC boosted its stake in FTI Consulting by 6,874.7% during the 2nd quarter. Copper Rock Capital Partners LLC now owns 6,528,115 shares of the business services provider’s stock valued at $770,581,000 after acquiring an additional 6,434,518 shares during the last quarter. Victory Capital Management Inc. boosted its stake in FTI Consulting by 101.8% during the 1st quarter. Victory Capital Management Inc. now owns 1,457,470 shares of the business services provider’s stock valued at $174,561,000 after acquiring an additional 735,227 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in FTI Consulting by 203.5% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 358,761 shares of the business services provider’s stock valued at $41,097,000 after acquiring an additional 240,568 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in FTI Consulting during the 2nd quarter valued at $25,614,000. Finally, Federated Hermes Inc. boosted its stake in FTI Consulting by 1,271.6% during the 2nd quarter. Federated Hermes Inc. now owns 229,736 shares of the business services provider’s stock valued at $26,317,000 after acquiring an additional 212,986 shares during the last quarter.
FTI Consulting stock opened at $107.34 on Friday. The firm’s 50-day moving average is $113.66 and its 200-day moving average is $117.40. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.18 and a current ratio of 2.18. FTI Consulting, Inc. has a 1 year low of $100.57 and a 1 year high of $144.10. The company has a market cap of $3.93 billion, a P/E ratio of 21.01 and a beta of 0.18.
FTI Consulting (NYSE:FCN) last posted its quarterly earnings results on Thursday, July 30th. The business services provider reported $1.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.28. FTI Consulting had a net margin of 8.07% and a return on equity of 13.63%. The company had revenue of $607.85 million for the quarter, compared to the consensus estimate of $564.02 million. During the same period last year, the firm posted $1.73 EPS. The company’s revenue for the quarter was up .3% on a year-over-year basis. As a group, sell-side analysts predict that FTI Consulting, Inc. will post 5.66 earnings per share for the current year.
In related news, Director Brenda J. Bacon sold 5,000 shares of the stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $119.93, for a total value of $599,650.00. Following the sale, the director now owns 25,074 shares of the company’s stock, valued at approximately $3,007,124.82. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.56% of the stock is owned by company insiders.
Separately, Zacks Investment Research downgraded shares of FTI Consulting from a “hold” rating to a “sell” rating and set a $122.00 price target on the stock. in a research report on Monday, June 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $149.33.
FTI Consulting Profile
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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