James Investment Research Inc. reduced its stake in shares of FTI Consulting, Inc. (NYSE:FCN) by 0.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,132 shares of the business services provider’s stock after selling 264 shares during the quarter. James Investment Research Inc. owned 0.11% of FTI Consulting worth $3,616,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Huntington National Bank acquired a new position in FTI Consulting during the second quarter worth $25,000. State of Alaska Department of Revenue boosted its stake in FTI Consulting by 1.4% during the second quarter. State of Alaska Department of Revenue now owns 12,940 shares of the business services provider’s stock worth $1,084,000 after buying an additional 178 shares during the last quarter. Sawgrass Asset Management LLC lifted its stake in shares of FTI Consulting by 44.2% in the 2nd quarter. Sawgrass Asset Management LLC now owns 12,265 shares of the business services provider’s stock valued at $1,028,000 after purchasing an additional 3,760 shares during the last quarter. NEXT Financial Group Inc acquired a new position in shares of FTI Consulting in the 2nd quarter valued at $96,000. Finally, Oregon Public Employees Retirement Fund lifted its stake in shares of FTI Consulting by 2.0% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 15,166 shares of the business services provider’s stock valued at $1,272,000 after purchasing an additional 300 shares during the last quarter. Institutional investors own 96.20% of the company’s stock.
Shares of FTI Consulting stock opened at $102.78 on Friday. FTI Consulting, Inc. has a 52 week low of $59.06 and a 52 week high of $106.22. The company has a fifty day simple moving average of $90.35. The firm has a market cap of $3.89 billion, a price-to-earnings ratio of 19.98 and a beta of 0.26. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 0.20.
FTI Consulting (NYSE:FCN) last announced its quarterly earnings results on Thursday, July 25th. The business services provider reported $1.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.78. FTI Consulting had a return on equity of 14.42% and a net margin of 8.98%. The business had revenue of $606.12 million for the quarter, compared to analyst estimates of $528.56 million. During the same quarter in the prior year, the company posted $1.14 EPS. The company’s quarterly revenue was up 18.4% on a year-over-year basis. On average, research analysts expect that FTI Consulting, Inc. will post 5.41 earnings per share for the current year.
FCN has been the topic of several recent analyst reports. Sidoti upped their price target on FTI Consulting from $99.00 to $117.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. ValuEngine lowered FTI Consulting from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, SunTrust Banks set a $120.00 price target on FTI Consulting and gave the company a “buy” rating in a research note on Friday, July 26th.
In related news, Director Gerard E. Holthaus sold 10,000 shares of the business’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $86.75, for a total value of $867,500.00. Following the sale, the director now owns 77,759 shares in the company, valued at approximately $6,745,593.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gerard E. Holthaus sold 8,884 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $86.82, for a total value of $771,308.88. Following the completion of the sale, the director now owns 77,759 shares in the company, valued at approximately $6,751,036.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,873 shares of company stock worth $2,667,976. Corporate insiders own 2.19% of the company’s stock.
About FTI Consulting
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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