Capital & Planning LLC Trims Stock Holdings in FTI Consulting, Inc. (NYSE:FCN)

Capital & Planning LLC lowered its stake in FTI Consulting, Inc. (NYSE:FCN) by 83.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,005 shares of the business services provider’s stock after selling 10,038 shares during the quarter. Capital & Planning LLC’s holdings in FTI Consulting were worth $329,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in FCN. Charles Schwab Investment Management Inc. increased its holdings in FTI Consulting by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 438,808 shares of the business services provider’s stock worth $83,869,000 after acquiring an additional 8,032 shares in the last quarter. Isthmus Partners LLC purchased a new stake in shares of FTI Consulting in the fourth quarter worth $447,000. California Public Employees Retirement System increased its stake in shares of FTI Consulting by 3.4% in the fourth quarter. California Public Employees Retirement System now owns 146,858 shares of the business services provider’s stock worth $28,069,000 after purchasing an additional 4,853 shares in the last quarter. GAMMA Investing LLC raised its position in shares of FTI Consulting by 7,936.5% during the 1st quarter. GAMMA Investing LLC now owns 39,379 shares of the business services provider’s stock valued at $6,461,000 after purchasing an additional 38,889 shares during the period. Finally, Two Sigma Investments LP purchased a new position in shares of FTI Consulting during the 4th quarter valued at $442,000. 99.36% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other FTI Consulting news, CFO Ajay Sabherwal sold 5,236 shares of FTI Consulting stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $164.60, for a total value of $861,845.60. Following the sale, the chief financial officer owned 24,777 shares of the company’s stock, valued at $4,078,294.20. The trade was a 17.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.79% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FCN. Truist Financial lowered FTI Consulting from a “buy” rating to a “hold” rating and cut their price target for the stock from $225.00 to $178.00 in a research note on Wednesday, April 2nd. William Blair reaffirmed an “outperform” rating on shares of FTI Consulting in a research note on Friday, April 25th. Finally, Wall Street Zen downgraded FTI Consulting from a “buy” rating to a “hold” rating in a research note on Thursday, April 3rd.

FTI Consulting Price Performance

Shares of NYSE:FCN opened at $164.89 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.24 and a current ratio of 2.24. The firm has a fifty day moving average price of $163.70 and a 200 day moving average price of $172.75. FTI Consulting, Inc. has a fifty-two week low of $151.75 and a fifty-two week high of $243.60. The firm has a market cap of $5.65 billion, a price-to-earnings ratio of 22.56 and a beta of 0.19.

FTI Consulting (NYSE:FCN) last announced its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.29 EPS for the quarter, topping the consensus estimate of $1.79 by $0.50. The business had revenue of $898.28 million for the quarter, compared to analysts’ expectations of $906.93 million. FTI Consulting had a net margin of 7.14% and a return on equity of 13.07%. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.23 EPS. As a group, sell-side analysts expect that FTI Consulting, Inc. will post 8.55 earnings per share for the current fiscal year.

FTI Consulting announced that its Board of Directors has authorized a stock repurchase program on Thursday, April 24th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the business services provider to reacquire up to 6.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

FTI Consulting Profile

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.