D. E. Shaw & Co. Inc. Purchases 9,159 Shares of FTI Consulting, Inc. (NYSE:FCN)

D. E. Shaw & Co. Inc. raised its position in FTI Consulting, Inc. (NYSE:FCN) by 9.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 106,398 shares of the business services provider’s stock after purchasing an additional 9,159 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in FTI Consulting were worth $20,336,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Mawer Investment Management Ltd. raised its holdings in shares of FTI Consulting by 3.8% in the fourth quarter. Mawer Investment Management Ltd. now owns 4,065,609 shares of the business services provider’s stock worth $777,060,000 after buying an additional 149,276 shares during the period. Vanguard Group Inc. boosted its holdings in FTI Consulting by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 3,564,322 shares of the business services provider’s stock valued at $681,249,000 after acquiring an additional 23,419 shares during the period. T. Rowe Price Investment Management Inc. grew its position in FTI Consulting by 86.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,018,868 shares of the business services provider’s stock valued at $194,737,000 after acquiring an additional 472,245 shares during the last quarter. Alliancebernstein L.P. increased its stake in FTI Consulting by 9.3% in the fourth quarter. Alliancebernstein L.P. now owns 740,858 shares of the business services provider’s stock worth $141,600,000 after purchasing an additional 63,163 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of FTI Consulting by 3.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 701,033 shares of the business services provider’s stock worth $133,987,000 after purchasing an additional 23,784 shares during the last quarter. Institutional investors own 99.36% of the company’s stock.

FTI Consulting Trading Down 1.1%

FCN opened at $165.00 on Monday. The company has a market capitalization of $5.66 billion, a price-to-earnings ratio of 21.15 and a beta of 0.18. FTI Consulting, Inc. has a 12-month low of $151.75 and a 12-month high of $243.60. The business’s fifty day simple moving average is $163.51 and its 200-day simple moving average is $182.87.

FTI Consulting (NYSE:FCN) last issued its earnings results on Thursday, April 24th. The business services provider reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.50. FTI Consulting had a net margin of 7.57% and a return on equity of 13.15%. The company had revenue of $898.28 million for the quarter, compared to analysts’ expectations of $906.93 million. During the same period in the prior year, the business earned $2.23 EPS. The firm’s quarterly revenue was down 3.3% on a year-over-year basis. On average, equities research analysts predict that FTI Consulting, Inc. will post 8.55 EPS for the current year.

FTI Consulting announced that its board has authorized a share repurchase plan on Thursday, April 24th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the business services provider to purchase up to 6.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity at FTI Consulting

In related 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 transaction of $861,845.60. Following the sale, the chief financial officer now owns 24,777 shares of the company’s stock, valued at $4,078,294.20. This trade represents a 17.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.51% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

FTI Consulting Company 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.