Piermont Capital Management Inc. acquired a new stake in FTI Consulting, Inc. (NYSE:FCN) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 35,600 shares of the business services provider’s stock, valued at approximately $2,606,000.
Other hedge funds have also added to or reduced their stakes in the company. Financial Enhancement Group LLC acquired a new stake in shares of FTI Consulting during the 2nd quarter worth approximately $104,000. Tower Research Capital LLC TRC acquired a new stake in shares of FTI Consulting during the 2nd quarter worth approximately $140,000. Cornerstone Wealth Management LLC acquired a new stake in shares of FTI Consulting during the 2nd quarter worth approximately $182,000. Itau Unibanco Holding S.A. acquired a new stake in shares of FTI Consulting during the 2nd quarter worth approximately $183,000. Finally, Zeke Capital Advisors LLC acquired a new stake in shares of FTI Consulting during the 2nd quarter worth approximately $208,000. Institutional investors own 95.07% of the company’s stock.
Shares of NYSE FCN opened at $68.95 on Friday. The company has a market cap of $2.62 billion, a PE ratio of 17.25 and a beta of 0.06. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.64 and a quick ratio of 1.64. FTI Consulting, Inc. has a 1 year low of $39.57 and a 1 year high of $81.91.
FTI Consulting (NYSE:FCN) last announced its quarterly earnings results on Thursday, October 25th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.42. The business had revenue of $513.01 million during the quarter, compared to the consensus estimate of $471.78 million. FTI Consulting had a net margin of 9.73% and a return on equity of 11.91%. On average, sell-side analysts expect that FTI Consulting, Inc. will post 3.75 EPS for the current fiscal year.
A number of analysts have recently issued reports on FCN shares. Zacks Investment Research downgraded shares of FTI Consulting from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 26th. ValuEngine downgraded shares of FTI Consulting from a “buy” rating to a “hold” rating in a report on Thursday, November 1st.
In other news, Director Brenda J. Bacon sold 11,000 shares of the firm’s stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $66.51, for a total transaction of $731,610.00. Following the completion of the sale, the director now owns 40,955 shares in the company, valued at approximately $2,723,917.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nicholas C. Fanandakis sold 13,522 shares of the firm’s stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $69.52, for a total transaction of $940,049.44. Following the sale, the director now owns 19,943 shares of the company’s stock, valued at approximately $1,386,437.36. The disclosure for this sale can be found here. Insiders have sold a total of 41,382 shares of company stock valued at $2,858,955 in the last 90 days. Insiders own 2.19% of the company’s stock.
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FTI Consulting Profile
FTI Consulting, Inc provides business advisory services to manage change, mitigate risk, and resolve disputes worldwide. The company's Corporate Finance & Restructuring segment provides turnaround and restructuring, business transformation, interim management, valuation and financial advisory, transaction, dispute advisory, and tax services, as well as mergers and acquisitions (M&A), and M&A integration services.
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