Jacobs Levy Equity Management Inc. Buys Shares of 17,542 FTI Consulting, Inc. (NYSE:FCN)

Jacobs Levy Equity Management Inc. bought a new stake in FTI Consulting, Inc. (NYSE:FCN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 17,542 shares of the business services provider’s stock, valued at approximately $3,353,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in FCN. Barclays PLC raised its stake in shares of FTI Consulting by 160.8% during the 3rd quarter. Barclays PLC now owns 25,929 shares of the business services provider’s stock worth $5,901,000 after purchasing an additional 15,986 shares in the last quarter. Oak Thistle LLC raised its stake in shares of FTI Consulting by 128.0% during the 4th quarter. Oak Thistle LLC now owns 2,925 shares of the business services provider’s stock worth $559,000 after purchasing an additional 1,642 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of FTI Consulting by 126.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 12,629 shares of the business services provider’s stock worth $2,414,000 after purchasing an additional 7,053 shares in the last quarter. Financial Enhancement Group LLC raised its stake in shares of FTI Consulting by 92.0% during the 4th quarter. Financial Enhancement Group LLC now owns 46,569 shares of the business services provider’s stock worth $9,079,000 after purchasing an additional 22,310 shares in the last quarter. Finally, DB Fitzpatrick & Co Inc raised its stake in shares of FTI Consulting by 19.7% during the 4th quarter. DB Fitzpatrick & Co Inc now owns 7,207 shares of the business services provider’s stock worth $1,377,000 after purchasing an additional 1,185 shares in the last quarter. Institutional investors own 99.36% of the company’s stock.

FTI Consulting Trading Down 0.6%

FCN stock opened at $161.95 on Thursday. The firm has a market capitalization of $5.55 billion, a PE ratio of 20.76 and a beta of 0.18. FTI Consulting, Inc. has a 1-year low of $151.75 and a 1-year high of $243.60. The business’s 50 day simple moving average is $163.13 and its 200 day simple moving average is $182.35.

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

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. William Blair reiterated an “outperform” rating on shares of FTI Consulting in a research note on Friday, April 25th. Truist Financial cut FTI Consulting from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $225.00 to $178.00 in a research note on Wednesday, April 2nd. The Goldman Sachs Group dropped their price objective 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. Finally, StockNews.com lowered FTI Consulting from a “buy” rating to a “hold” rating in a report on Thursday, April 3rd.

Insider Buying and Selling

In other FTI Consulting news, CFO Ajay Sabherwal sold 5,236 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $164.60, for a total transaction of $861,845.60. Following the transaction, the chief financial officer now 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.51% of the stock is owned by insiders.

FTI Consulting 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.