Two Sigma Securities LLC bought a new stake in FTI Consulting, Inc. (NYSE:FCN) in the fourth quarter, HoldingsChannel.com reports. The fund bought 12,695 shares of the business services provider’s stock, valued at approximately $545,000.
A number of other institutional investors have also added to or reduced their stakes in the stock. Two Sigma Investments LP bought a new position in FTI Consulting in the fourth quarter valued at $1,051,000. Two Sigma Advisers LP bought a new position in FTI Consulting in the fourth quarter valued at $608,000. Stone Ridge Asset Management LLC bought a new position in FTI Consulting in the fourth quarter valued at $446,000. Cornercap Investment Counsel Inc. bought a new position in FTI Consulting in the fourth quarter valued at $751,000. Finally, Kemnay Advisory Services Inc. bought a new position in FTI Consulting in the fourth quarter valued at $994,000. 98.71% of the stock is owned by institutional investors and hedge funds.
FCN has been the subject of a number of analyst reports. Zacks Investment Research raised shares of FTI Consulting from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a research report on Tuesday, January 2nd. ValuEngine raised shares of FTI Consulting from a “hold” rating to a “buy” rating in a research report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $45.50.
Shares of FTI Consulting, Inc. (FCN) opened at $48.88 on Wednesday. The company has a market cap of $1,831.82, a price-to-earnings ratio of 17.21 and a beta of 0.25. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.94 and a quick ratio of 1.94. FTI Consulting, Inc. has a 12 month low of $31.65 and a 12 month high of $50.81.
FTI Consulting (NYSE:FCN) last announced its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.28. The firm had revenue of $467.71 million during the quarter, compared to analysts’ expectations of $450.52 million. FTI Consulting had a net margin of 5.97% and a return on equity of 7.80%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.24 earnings per share. equities research analysts expect that FTI Consulting, Inc. will post 2.53 EPS for the current year.
FTI Consulting announced that its Board of Directors has approved a share repurchase plan on Monday, December 4th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the business services provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
In other FTI Consulting news, CAO Catherine M. Freeman sold 6,088 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $48.44, for a total value of $294,902.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.33% of the company’s stock.
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FTI Consulting Profile
FTI Consulting, Inc is a business advisory company. The Company operates through five segments: Corporate Finance & Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology and Strategic Communications. The Company provides advice and services, such as restructuring (including bankruptcy), capital formation and indebtedness, interim business management, performance improvements, forensic accounting and litigation matters, international arbitrations, mergers and acquisitions (M&A), antitrust and competition matters, securities litigation, electronic discovery (or e-discovery), management and retrieval of electronically stored information (ESI), reputation management and strategic communications.
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