FTI Consulting, Inc. (FCN) Holdings Cut by Rhumbline Advisers

Rhumbline Advisers decreased its holdings in shares of FTI Consulting, Inc. (NYSE:FCN) by 3.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 83,072 shares of the business services provider’s stock after selling 2,625 shares during the quarter. Rhumbline Advisers owned about 0.22% of FTI Consulting worth $2,947,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Amalgamated Bank increased its stake in FTI Consulting by 0.6% during the second quarter. Amalgamated Bank now owns 5,870 shares of the business services provider’s stock worth $205,000 after acquiring an additional 37 shares during the last quarter. Northwestern Mutual Investment Management Company LLC grew its stake in shares of FTI Consulting by 0.8% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 7,155 shares of the business services provider’s stock valued at $291,000 after buying an additional 56 shares in the last quarter. Comerica Bank grew its stake in shares of FTI Consulting by 0.8% in the second quarter. Comerica Bank now owns 32,062 shares of the business services provider’s stock valued at $1,061,000 after buying an additional 270 shares in the last quarter. Capstone Asset Management Co. grew its stake in shares of FTI Consulting by 4.9% in the second quarter. Capstone Asset Management Co. now owns 5,956 shares of the business services provider’s stock valued at $208,000 after buying an additional 280 shares in the last quarter. Finally, Arizona State Retirement System grew its stake in shares of FTI Consulting by 1.8% in the second quarter. Arizona State Retirement System now owns 17,400 shares of the business services provider’s stock valued at $608,000 after buying an additional 300 shares in the last quarter. 97.23% of the stock is owned by institutional investors.

FCN has been the subject of a number of research reports. TheStreet raised FTI Consulting from a “c” rating to a “b” rating in a research note on Thursday, October 26th. Zacks Investment Research raised FTI Consulting from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $44.33.

Shares of FTI Consulting, Inc. (NYSE FCN) opened at $43.56 on Friday. FTI Consulting, Inc. has a one year low of $31.65 and a one year high of $47.12. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $1,651.87, a price-to-earnings ratio of 24.04 and a beta of 0.33.

FTI Consulting (NYSE:FCN) last released its earnings results on Thursday, October 26th. The business services provider reported $0.83 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.24. FTI Consulting had a return on equity of 6.12% and a net margin of 2.70%. The firm had revenue of $448.96 million during the quarter, compared to analysts’ expectations of $446.63 million. During the same period in the previous year, the firm posted $0.52 EPS. FTI Consulting’s revenue for the quarter was up 2.5% on a year-over-year basis. sell-side analysts predict that FTI Consulting, Inc. will post 2.06 EPS for the current fiscal year.

FTI Consulting declared that its board has approved a stock buyback program on Monday, December 4th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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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.

Institutional Ownership by Quarter for FTI Consulting (NYSE:FCN)

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