FTI Consulting, Inc. $FCN Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System lessened its position in FTI Consulting, Inc. (NYSE:FCN) by 4.7% during the second quarter, Holdings Channel reports. The institutional investor owned 8,104 shares of the business services provider’s stock after selling 400 shares during the quarter. State of Michigan Retirement System’s holdings in FTI Consulting were worth $1,309,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in FTI Consulting during the first quarter worth about $33,000. Signaturefd LLC boosted its position in shares of FTI Consulting by 65.3% during the 1st quarter. Signaturefd LLC now owns 205 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 81 shares in the last quarter. CWM LLC boosted its position in shares of FTI Consulting by 72.0% during the 2nd quarter. CWM LLC now owns 332 shares of the business services provider’s stock valued at $54,000 after purchasing an additional 139 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in shares of FTI Consulting by 26.6% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 362 shares of the business services provider’s stock worth $59,000 after purchasing an additional 76 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of FTI Consulting by 64.2% in the 2nd quarter. GAMMA Investing LLC now owns 394 shares of the business services provider’s stock worth $64,000 after purchasing an additional 154 shares in the last quarter. Institutional investors and hedge funds own 99.36% of the company’s stock.

Insider Transactions at FTI Consulting

In related news, CEO Steven Henry Gunby bought 7,500 shares of the firm’s stock in a transaction on Friday, October 24th. The stock was purchased at an average price of $151.12 per share, with a total value of $1,133,400.00. Following the completion of the transaction, the chief executive officer directly owned 294,007 shares of the company’s stock, valued at $44,430,337.84. This trade represents a 2.62% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.79% of the stock is owned by insiders.

FTI Consulting Stock Down 1.5%

FCN stock opened at $164.24 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.85 and a quick ratio of 1.85. The firm has a market capitalization of $5.07 billion, a P/E ratio of 20.92 and a beta of 0.14. FTI Consulting, Inc. has a 52-week low of $149.31 and a 52-week high of $209.13. The company’s 50 day simple moving average is $162.22 and its 200-day simple moving average is $164.23.

FTI Consulting (NYSE:FCN) last posted its quarterly earnings data on Thursday, October 23rd. The business services provider reported $2.60 earnings per share for the quarter, topping the consensus estimate of $1.93 by $0.67. The firm had revenue of $956.17 million for the quarter, compared to analysts’ expectations of $941.19 million. FTI Consulting had a net margin of 7.20% and a return on equity of 14.49%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.85 EPS. FTI Consulting has set its FY 2025 guidance at 8.200-8.70 EPS. As a group, equities research analysts anticipate that FTI Consulting, Inc. will post 8.55 EPS for the current year.

FTI Consulting declared that its board has initiated a share repurchase plan on Tuesday, October 21st that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the business services provider to repurchase up to 9.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of FTI Consulting in a research note on Wednesday, October 8th. Truist Financial cut their price objective on FTI Consulting from $178.00 to $165.00 and set a “hold” rating for the company in a research report on Thursday, October 23rd. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $169.00.

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.