Lecap Asset Management Ltd. Buys 5,724 Shares of FTI Consulting, Inc. (NYSE:FCN)

Lecap Asset Management Ltd. grew its stake in FTI Consulting, Inc. (NYSE:FCN) by 115.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,671 shares of the business services provider’s stock after purchasing an additional 5,724 shares during the quarter. Lecap Asset Management Ltd.’s holdings in FTI Consulting were worth $1,751,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. CIBC Asset Management Inc lifted its holdings in FTI Consulting by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 1,083 shares of the business services provider’s stock worth $207,000 after acquiring an additional 55 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in FTI Consulting during the fourth quarter worth $961,000. Proficio Capital Partners LLC bought a new stake in FTI Consulting during the fourth quarter worth $2,192,000. Versor Investments LP bought a new stake in FTI Consulting during the fourth quarter worth $688,000. Finally, Jones Financial Companies Lllp lifted its holdings in FTI Consulting by 394.0% during the fourth quarter. Jones Financial Companies Lllp now owns 247 shares of the business services provider’s stock worth $47,000 after acquiring an additional 197 shares during the period. Institutional investors own 99.36% of the company’s stock.

Insider Activity at FTI Consulting

In related news, CFO Ajay Sabherwal sold 5,236 shares of the business’s 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 sale, the chief financial officer now directly owns 24,777 shares in the company, valued at approximately $4,078,294.20. The trade was a 17.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.79% of the stock is currently owned by corporate insiders.

FTI Consulting Stock Performance

Shares of FCN opened at $161.67 on Thursday. The firm has a market cap of $5.54 billion, a PE ratio of 22.12 and a beta of 0.19. The stock’s fifty day moving average price is $164.01 and its two-hundred day moving average price is $174.64. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.24 and a quick ratio of 2.24. FTI Consulting, Inc. has a 1 year low of $151.75 and a 1 year high of $243.60.

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, beating the consensus estimate of $1.79 by $0.50. FTI Consulting had a return on equity of 13.07% and a net margin of 7.14%. The firm had revenue of $898.28 million for the quarter, compared to analyst estimates of $906.93 million. During the same period in the previous year, the company posted $2.23 earnings per share. The business’s revenue was down 3.3% on a year-over-year basis. On average, equities research analysts forecast that FTI Consulting, Inc. will post 8.55 EPS for the current year.

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on FCN shares. Truist Financial lowered FTI Consulting from a “buy” rating to a “hold” rating and lowered their target price for the company from $225.00 to $178.00 in a research note on Wednesday, April 2nd. Wall Street Zen lowered FTI Consulting from a “buy” rating to a “hold” rating in a research note on Thursday, April 3rd. Finally, William Blair restated an “outperform” rating on shares of FTI Consulting in a research note on Friday, April 25th.

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.