FTI Consulting, Inc. (NYSE:FCN) Sees Large Decline in Short Interest

FTI Consulting, Inc. (NYSE:FCN) was the recipient of a large decline in short interest in the month of June. As of June 15th, there was short interest totalling 352,400 shares, a decline of 10.8% from the May 31st total of 395,200 shares. Based on an average daily trading volume, of 159,900 shares, the days-to-cover ratio is currently 2.2 days.

Analysts Set New Price Targets

FCN has been the subject of several analyst reports. StockNews.com downgraded shares of FTI Consulting from a “buy” rating to a “hold” rating in a report on Friday, April 26th. William Blair reiterated an “outperform” rating on shares of FTI Consulting in a research note on Tuesday, June 25th.

FTI Consulting Price Performance

Shares of NYSE:FCN traded up $2.61 during midday trading on Wednesday, reaching $217.80. The company’s stock had a trading volume of 101,148 shares, compared to its average volume of 187,318. The business’s fifty day simple moving average is $216.04 and its 200-day simple moving average is $207.05. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.46 and a quick ratio of 2.46. FTI Consulting has a fifty-two week low of $171.81 and a fifty-two week high of $232.15. The company has a market capitalization of $7.78 billion, a P/E ratio of 25.33 and a beta of 0.09.

FTI Consulting (NYSE:FCN) last posted its quarterly earnings data on Thursday, April 25th. The business services provider reported $2.23 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.47. FTI Consulting had a net margin of 8.51% and a return on equity of 15.97%. The firm had revenue of $928.60 million during the quarter, compared to analysts’ expectations of $901.77 million. During the same quarter last year, the company posted $1.34 EPS. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. As a group, equities research analysts expect that FTI Consulting will post 8.22 EPS for the current fiscal year.

Insider Buying and Selling at FTI Consulting

In other news, CFO Ajay Sabherwal sold 596 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $226.13, for a total transaction of $134,773.48. Following the completion of the transaction, the chief financial officer now directly owns 13,455 shares of the company’s stock, valued at approximately $3,042,579.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other FTI Consulting news, insider Paul Alderman Linton sold 16,552 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $216.78, for a total transaction of $3,588,142.56. Following the completion of the transaction, the insider now directly owns 53,416 shares in the company, valued at $11,579,520.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ajay Sabherwal sold 596 shares of FTI Consulting stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $226.13, for a total value of $134,773.48. Following the transaction, the chief financial officer now directly owns 13,455 shares of the company’s stock, valued at $3,042,579.15. The disclosure for this sale can be found here. Insiders have sold 51,088 shares of company stock valued at $11,163,977 in the last 90 days. 2.51% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of FCN. Axiom Investors LLC DE increased its stake in shares of FTI Consulting by 35.3% in the 4th quarter. Axiom Investors LLC DE now owns 330,244 shares of the business services provider’s stock valued at $65,768,000 after buying an additional 86,140 shares during the period. Charles Schwab Investment Management Inc. increased its position in FTI Consulting by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 415,928 shares of the business services provider’s stock worth $82,832,000 after purchasing an additional 17,796 shares during the period. Alaska Permanent Fund Corp raised its holdings in FTI Consulting by 110.1% during the 1st quarter. Alaska Permanent Fund Corp now owns 51,993 shares of the business services provider’s stock worth $10,934,000 after purchasing an additional 27,242 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in FTI Consulting during the 1st quarter valued at about $22,540,000. Finally, Apollon Wealth Management LLC bought a new position in shares of FTI Consulting in the 4th quarter valued at about $910,000. Institutional investors own 99.36% 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 operates through Corporate Finance & Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology, and Strategic Communications segments. The Corporate Finance & Restructuring segment provides business transformation and strategy, transactions, and turnaround and restructuring services.