State of Tennessee Department of Treasury Sells 6,006 Shares of FTI Consulting, Inc. (NYSE:FCN)

State of Tennessee Department of Treasury lessened its holdings in FTI Consulting, Inc. (NYSE:FCN) by 31.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,050 shares of the business services provider’s stock after selling 6,006 shares during the period. State of Tennessee Department of Treasury’s holdings in FTI Consulting were worth $2,494,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of FCN. Barclays PLC raised its position in shares of FTI Consulting by 160.8% during the 3rd quarter. Barclays PLC now owns 25,929 shares of the business services provider’s stock valued at $5,901,000 after buying an additional 15,986 shares in the last quarter. SkyView Investment Advisors LLC lifted its stake in shares of FTI Consulting by 2.7% in the 3rd quarter. SkyView Investment Advisors LLC now owns 8,407 shares of the business services provider’s stock valued at $1,913,000 after purchasing an additional 223 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of FTI Consulting in the 3rd quarter worth approximately $35,000. Synovus Financial Corp increased its position in shares of FTI Consulting by 5.5% during the 3rd quarter. Synovus Financial Corp now owns 4,710 shares of the business services provider’s stock valued at $1,072,000 after purchasing an additional 246 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in FTI Consulting by 3.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 79,120 shares of the business services provider’s stock valued at $18,005,000 after buying an additional 2,860 shares during the period. Hedge funds and other institutional investors own 99.36% of the company’s stock.

FTI Consulting Stock Performance

FTI Consulting stock opened at $162.75 on Monday. The company has a market capitalization of $5.76 billion, a PE ratio of 20.87 and a beta of 0.21. FTI Consulting, Inc. has a fifty-two week low of $151.75 and a fifty-two week high of $243.60. The company has a 50 day moving average price of $163.96 and a 200-day moving average price of $187.04.

FTI Consulting (NYSE:FCN) last announced its earnings results on Thursday, April 24th. The business services provider reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.50. The company had revenue of $898.28 million for the quarter, compared to analyst estimates of $906.93 million. FTI Consulting had a return on equity of 13.15% and a net margin of 7.57%. On average, analysts forecast that FTI Consulting, Inc. will post 8.55 earnings per share for the current year.

FTI Consulting announced that its board has authorized a stock buyback plan on Thursday, April 24th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the business services provider to reacquire up to 6.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. The Goldman Sachs Group cut their price objective on shares of FTI Consulting from $194.00 to $173.00 and set a “neutral” rating on the stock in a research report on Friday, February 21st. Truist Financial lowered shares of FTI Consulting from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $225.00 to $178.00 in a research report on Wednesday, April 2nd. StockNews.com cut FTI Consulting from a “buy” rating to a “hold” rating in a research note on Thursday, April 3rd. Finally, William Blair reissued an “outperform” rating on shares of FTI Consulting in a research note on Friday.

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.