United Services Automobile Association lowered its stake in FTI Consulting, Inc. (NYSE:FCN) by 14.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 174,985 shares of the business services provider’s stock after selling 30,669 shares during the quarter. United Services Automobile Association owned approximately 0.46% of FTI Consulting worth $12,807,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its position in shares of FTI Consulting by 4.3% in the second quarter. Bank of New York Mellon Corp now owns 472,813 shares of the business services provider’s stock valued at $28,595,000 after acquiring an additional 19,280 shares during the last quarter. Aperio Group LLC increased its position in shares of FTI Consulting by 14.1% in the second quarter. Aperio Group LLC now owns 7,460 shares of the business services provider’s stock valued at $451,000 after acquiring an additional 924 shares during the last quarter. Bowling Portfolio Management LLC increased its position in shares of FTI Consulting by 14.9% in the third quarter. Bowling Portfolio Management LLC now owns 34,276 shares of the business services provider’s stock valued at $2,509,000 after acquiring an additional 4,453 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of FTI Consulting in the third quarter valued at about $15,331,000. Finally, Tower Research Capital LLC TRC acquired a new stake in shares of FTI Consulting in the second quarter valued at about $140,000. 98.22% of the stock is currently owned by institutional investors and hedge funds.
FCN has been the topic of a number of recent research reports. Zacks Investment Research downgraded FTI Consulting from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 26th. ValuEngine downgraded FTI Consulting from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st.
NYSE:FCN opened at $64.20 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.64 and a current ratio of 1.64. The stock has a market capitalization of $2.58 billion, a P/E ratio of 27.67 and a beta of 0.03. FTI Consulting, Inc. has a 52-week low of $39.57 and a 52-week high of $81.91.
FTI Consulting (NYSE:FCN) last released its earnings results on Thursday, October 25th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.42. The business had revenue of $513.01 million for the quarter, compared to the consensus estimate of $471.78 million. FTI Consulting had a return on equity of 11.91% and a net margin of 9.73%. On average, analysts anticipate that FTI Consulting, Inc. will post 3.75 earnings per share for the current year.
In other FTI Consulting news, General Counsel Curtis P. Lu sold 14,260 shares of the business’s stock in a transaction that occurred on Friday, October 26th. The stock was sold at an average price of $70.32, for a total transaction of $1,002,763.20. Following the transaction, the general counsel now owns 21,573 shares of the company’s stock, valued at $1,517,013.36. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Matthew Pachman sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, October 26th. The stock was sold at an average price of $73.14, for a total value of $109,710.00. Following the transaction, the vice president now directly owns 1,686 shares in the company, valued at approximately $123,314.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,533 shares of company stock worth $3,554,886. Company 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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