Texas Permanent School Fund reduced its position in FTI Consulting, Inc. (NYSE:FCN) by 11.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,658 shares of the business services provider’s stock after selling 3,210 shares during the quarter. Texas Permanent School Fund owned about 0.07% of FTI Consulting worth $1,102,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. James Investment Research Inc. bought a new position in shares of FTI Consulting in the fourth quarter valued at approximately $1,761,000. Fox Run Management L.L.C. bought a new position in shares of FTI Consulting in the fourth quarter valued at approximately $558,000. Acadian Asset Management LLC bought a new position in shares of FTI Consulting in the fourth quarter valued at approximately $7,022,000. Alpha Windward LLC bought a new position in shares of FTI Consulting in the fourth quarter valued at approximately $523,000. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of FTI Consulting by 4.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 343,112 shares of the business services provider’s stock valued at $14,741,000 after acquiring an additional 13,999 shares during the period. Institutional investors own 97.24% of the company’s stock.
A number of equities analysts have recently commented on FCN shares. TheStreet upgraded shares of FTI Consulting from a “c” rating to a “b” rating in a research report on Thursday, October 26th. Zacks Investment Research raised shares of FTI Consulting from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research note on Tuesday, January 2nd.
Shares of FTI Consulting, Inc. (NYSE:FCN) opened at $41.90 on Wednesday. The firm has a market cap of $1,564.57, a P/E ratio of 34.07 and a beta of 0.36. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.15 and a quick ratio of 2.15. FTI Consulting, Inc. has a one year low of $31.65 and a one year high of $45.27.
FTI Consulting announced that its Board of Directors has authorized a share repurchase plan on Monday, December 4th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
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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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