Intrust Bank NA Reduces Stake in FTI Consulting, Inc. (NYSE:FCN)

Intrust Bank NA lessened its stake in shares of FTI Consulting, Inc. (NYSE:FCN) by 12.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,855 shares of the business services provider’s stock after selling 269 shares during the quarter. Intrust Bank NA’s holdings in FTI Consulting were worth $355,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pacer Advisors Inc. grew its position in FTI Consulting by 9,995.1% during the fourth quarter. Pacer Advisors Inc. now owns 518,687 shares of the business services provider’s stock worth $99,137,000 after buying an additional 513,549 shares in the last quarter. Raymond James Financial Inc. bought a new stake in FTI Consulting during the fourth quarter valued at approximately $27,726,000. Norges Bank purchased a new position in FTI Consulting in the 4th quarter worth approximately $15,260,000. Allspring Global Investments Holdings LLC increased its holdings in shares of FTI Consulting by 1,215.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 48,945 shares of the business services provider’s stock worth $9,291,000 after buying an additional 45,224 shares during the last quarter. Finally, Wealthfront Advisers LLC purchased a new stake in shares of FTI Consulting during the 4th quarter valued at $8,572,000. 99.36% of the stock is currently owned by institutional investors.

FTI Consulting Stock Down 0.7 %

NYSE FCN opened at $162.28 on Monday. The company has a 50-day simple moving average of $177.51 and a two-hundred day simple moving average of $196.48. FTI Consulting, Inc. has a 12-month low of $158.88 and a 12-month high of $243.60. The firm has a market cap of $5.83 billion, a price-to-earnings ratio of 20.80 and a beta of 0.14.

FTI Consulting (NYSE:FCN) last issued its earnings results on Thursday, February 20th. The business services provider reported $1.56 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($0.17). The company had revenue of $894.92 million for the quarter, compared to analysts’ expectations of $913.70 million. FTI Consulting had a net margin of 7.57% and a return on equity of 13.15%. Equities analysts expect that FTI Consulting, Inc. will post 8.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on FCN. The Goldman Sachs Group reduced their target price on FTI Consulting from $194.00 to $173.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. StockNews.com raised FTI Consulting from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Finally, Truist Financial cut their target price on FTI Consulting from $275.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, February 21st.

About FTI Consulting

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.