Eagle Boston Investment Management Inc. Decreases Position in FTI Consulting, Inc. (FCN)
Eagle Boston Investment Management Inc. lowered its stake in shares of FTI Consulting, Inc. (NYSE:FCN) by 16.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 28,874 shares of the business services provider’s stock after selling 5,633 shares during the period. Eagle Boston Investment Management Inc. owned about 0.07% of FTI Consulting worth $1,009,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FCN. Meadow Creek Investment Management LLC boosted its position in FTI Consulting by 24.7% in the first quarter. Meadow Creek Investment Management LLC now owns 2,548 shares of the business services provider’s stock valued at $105,000 after buying an additional 504 shares during the last quarter. Acrospire Investment Management LLC boosted its position in FTI Consulting by 57.9% in the first quarter. Acrospire Investment Management LLC now owns 2,726 shares of the business services provider’s stock valued at $112,000 after buying an additional 1,000 shares during the last quarter. TrimTabs Asset Management LLC bought a new position in FTI Consulting during the first quarter valued at $121,000. Glen Harbor Capital Management LLC boosted its position in FTI Consulting by 24.7% in the first quarter. Glen Harbor Capital Management LLC now owns 3,094 shares of the business services provider’s stock valued at $128,000 after buying an additional 612 shares during the last quarter. Finally, LS Investment Advisors LLC boosted its position in FTI Consulting by 17.4% in the second quarter. LS Investment Advisors LLC now owns 3,307 shares of the business services provider’s stock valued at $116,000 after buying an additional 491 shares during the last quarter. 92.31% of the stock is owned by hedge funds and other institutional investors.
Shares of FTI Consulting, Inc. (NYSE:FCN) opened at 33.99 on Friday. The stock has a market capitalization of $1.34 billion, a PE ratio of 37.19 and a beta of 0.27. The firm’s 50-day moving average is $33.01 and its 200-day moving average is $36.45. FTI Consulting, Inc. has a one year low of $31.65 and a one year high of $47.12.
FTI Consulting (NYSE:FCN) last posted its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by $0.13. FTI Consulting had a return on equity of 5.18% and a net margin of 2.13%. The business had revenue of $447.70 million for the quarter, compared to analysts’ expectations of $455.55 million. During the same period in the prior year, the business posted $0.66 earnings per share. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, analysts expect that FTI Consulting, Inc. will post $1.87 earnings per share for the current fiscal year.
FTI Consulting declared that its board has authorized a stock repurchase plan on Friday, May 19th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the business services provider to repurchase up to 7.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
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Several research firms have recently weighed in on FCN. BidaskClub raised shares of FTI Consulting from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 9th. Zacks Investment Research cut shares of FTI Consulting from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $43.00.
About FTI Consulting
FTI Consulting, Inc is a business advisory company. The Company operates through five segments: Corporate Finance & Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology and Strategic Communications. The Company provides advice and services, such as restructuring (including bankruptcy), capital formation and indebtedness, interim business management, performance improvements, forensic accounting and litigation matters, international arbitrations, mergers and acquisitions (M&A), antitrust and competition matters, securities litigation, electronic discovery (or e-discovery), management and retrieval of electronically stored information (ESI), reputation management and strategic communications.
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