Paradigm Asset Management Co. LLC Lowers Stake in FTI Consulting, Inc. (FCN)
Paradigm Asset Management Co. LLC reduced its stake in FTI Consulting, Inc. (NYSE:FCN) by 50.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,300 shares of the business services provider’s stock after selling 3,400 shares during the period. Paradigm Asset Management Co. LLC’s holdings in FTI Consulting were worth $115,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Comerica Bank increased its position in FTI Consulting by 2.2% in the first quarter. Comerica Bank now owns 31,792 shares of the business services provider’s stock valued at $1,130,000 after buying an additional 687 shares in the last quarter. Bank of New York Mellon Corp increased its position in FTI Consulting by 39.6% in the first quarter. Bank of New York Mellon Corp now owns 672,947 shares of the business services provider’s stock valued at $27,705,000 after buying an additional 190,942 shares in the last quarter. Bbva Compass Bancshares Inc. increased its position in FTI Consulting by 11.5% in the first quarter. Bbva Compass Bancshares Inc. now owns 14,694 shares of the business services provider’s stock valued at $605,000 after buying an additional 1,511 shares in the last quarter. American Century Companies Inc. increased its position in FTI Consulting by 26.3% in the first quarter. American Century Companies Inc. now owns 319,294 shares of the business services provider’s stock valued at $13,145,000 after buying an additional 66,514 shares in the last quarter. Finally, First Trust Advisors LP increased its position in FTI Consulting by 79.2% in the first quarter. First Trust Advisors LP now owns 46,450 shares of the business services provider’s stock valued at $1,912,000 after buying an additional 20,525 shares in the last quarter. 92.31% of the stock is currently owned by hedge funds and other institutional investors.
Shares of FTI Consulting, Inc. (NYSE:FCN) opened at 33.25 on Thursday. FTI Consulting, Inc. has a 52-week low of $31.65 and a 52-week high of $47.12. The company’s 50-day moving average is $33.04 and its 200 day moving average is $36.76. The firm has a market capitalization of $1.32 billion, a PE ratio of 36.38 and a beta of 0.28.
FTI Consulting (NYSE:FCN) last issued its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.40 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.53 by $0.13. FTI Consulting had a net margin of 2.13% and a return on equity of 5.18%. The company had revenue of $447.70 million during the quarter, compared to the consensus estimate of $455.55 million. During the same period in the previous year, the business posted $0.66 earnings per share. The firm’s revenue was down 2.7% on a year-over-year basis. Equities analysts expect that FTI Consulting, Inc. will post $1.87 earnings per share for the current fiscal year.
FTI Consulting declared that its Board of Directors has approved a stock buyback program on Friday, May 19th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the business services provider to repurchase up to 7.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.
FCN has been the subject of several recent analyst reports. BidaskClub upgraded shares of FTI Consulting from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. Zacks Investment Research cut shares of FTI Consulting from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The company has a consensus rating of “Hold” and an average price target of $43.00.
FTI Consulting Company Profile
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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