FTI Consulting, Inc. (FCN) Shares Sold by UBS Group AG
UBS Group AG lowered its position in FTI Consulting, Inc. (NYSE:FCN) by 73.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,479 shares of the business services provider’s stock after selling 9,467 shares during the period. UBS Group AG’s holdings in FTI Consulting were worth $143,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the company. Teachers Advisors LLC increased its stake in FTI Consulting by 1.7% in the fourth quarter. Teachers Advisors LLC now owns 68,215 shares of the business services provider’s stock valued at $3,075,000 after buying an additional 1,135 shares in the last quarter. Capstone Asset Management Co. increased its stake in FTI Consulting by 5.0% in the first quarter. Capstone Asset Management Co. now owns 5,676 shares of the business services provider’s stock valued at $234,000 after buying an additional 270 shares in the last quarter. Alpha Windward LLC increased its stake in FTI Consulting by 7.2% in the first quarter. Alpha Windward LLC now owns 11,580 shares of the business services provider’s stock valued at $477,000 after buying an additional 780 shares in the last quarter. LGT Capital Partners LTD. increased its stake in FTI Consulting by 8.3% in the first quarter. LGT Capital Partners LTD. now owns 65,000 shares of the business services provider’s stock valued at $2,676,000 after buying an additional 5,000 shares in the last quarter. Finally, First Citizens Bank & Trust Co. acquired a new stake in FTI Consulting during the first quarter valued at $293,000. 96.09% of the stock is owned by institutional investors.
Shares of FTI Consulting, Inc. (FCN) traded up 1.18% during midday trading on Friday, reaching $33.38. 82,989 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $33.50 and its 200 day moving average price is $37.49. FTI Consulting, Inc. has a 12-month low of $31.65 and a 12-month high of $47.12. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 36.52 and a beta of 0.28.
FTI Consulting (NYSE:FCN) last posted its earnings results on Thursday, July 27th. The business services provider reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by $0.13. The business had revenue of $447.70 million for the quarter, compared to analysts’ expectations of $455.55 million. FTI Consulting had a net margin of 2.13% and a return on equity of 5.18%. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period last year, the business posted $0.66 EPS. Equities analysts anticipate that FTI Consulting, Inc. will post $1.87 earnings per share for the current fiscal year.
FTI Consulting declared that its board has approved a share repurchase plan on Friday, May 19th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the business services provider to buy up to 7.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.
FCN has been the topic of a number of analyst reports. Zacks Investment Research cut shares of FTI Consulting from a “hold” rating to a “sell” rating in a research report on Tuesday, April 18th. Deutsche Bank AG decreased their price objective on shares of FTI Consulting from $47.00 to $38.00 and set a “hold” rating on the stock in a research report on Friday, April 28th. Finally, BidaskClub cut shares of FTI Consulting from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. FTI Consulting has an average rating of “Hold” and an average 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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