Graham Capital Management L.P. Lowers Stock Position in FTI Consulting, Inc. (NYSE:FCN)

Graham Capital Management L.P. cut its stake in shares of FTI Consulting, Inc. (NYSE:FCN) by 62.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,314 shares of the business services provider’s stock after selling 2,150 shares during the period. Graham Capital Management L.P.’s holdings in FTI Consulting were worth $251,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Mawer Investment Management Ltd. grew its stake in shares of FTI Consulting by 3.8% during the 4th quarter. Mawer Investment Management Ltd. now owns 4,065,609 shares of the business services provider’s stock valued at $777,060,000 after buying an additional 149,276 shares during the period. Vanguard Group Inc. lifted its holdings in shares of FTI Consulting by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 3,564,322 shares of the business services provider’s stock valued at $681,249,000 after acquiring an additional 23,419 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of FTI Consulting by 86.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,018,868 shares of the business services provider’s stock valued at $194,737,000 after acquiring an additional 472,245 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of FTI Consulting by 9.3% during the 4th quarter. Alliancebernstein L.P. now owns 740,858 shares of the business services provider’s stock valued at $141,600,000 after acquiring an additional 63,163 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of FTI Consulting by 3.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 701,033 shares of the business services provider’s stock valued at $133,987,000 after acquiring an additional 23,784 shares in the last quarter. 99.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. StockNews.com lowered shares of FTI Consulting from a “buy” rating to a “hold” rating in a report on Thursday, April 3rd. The Goldman Sachs Group decreased their price objective on shares of FTI Consulting from $194.00 to $173.00 and set a “neutral” rating for the company in a research report on Friday, February 21st. William Blair reissued an “outperform” rating on shares of FTI Consulting in a research report on Friday, April 25th. Finally, Truist Financial cut shares of FTI Consulting from a “buy” rating to a “hold” rating and decreased their price objective for the company from $225.00 to $178.00 in a research report on Wednesday, April 2nd.

FTI Consulting Stock Up 1.0%

Shares of NYSE:FCN opened at $166.94 on Monday. 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 market cap of $5.72 billion, a PE ratio of 21.40 and a beta of 0.18. The firm has a 50-day simple moving average of $163.17 and a 200 day simple moving average of $181.66.

FTI Consulting (NYSE:FCN) last posted its 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. FTI Consulting had a net margin of 7.57% and a return on equity of 13.15%. The firm had revenue of $898.28 million during the quarter, compared to analysts’ expectations of $906.93 million. During the same quarter in the prior year, the firm earned $2.23 EPS. FTI Consulting’s quarterly revenue was down 3.3% on a year-over-year basis. As a group, research analysts forecast that FTI Consulting, Inc. will post 8.55 EPS for the current fiscal year.

FTI Consulting announced that its board has approved a stock repurchase plan on Thursday, April 24th that allows the company to buyback $400.00 million in shares. This buyback authorization allows the business services provider to purchase up to 6.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at FTI Consulting

In other news, CFO Ajay Sabherwal sold 5,236 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $164.60, for a total value of $861,845.60. Following the completion of the sale, the chief financial officer now directly owns 24,777 shares of the company’s stock, valued at approximately $4,078,294.20. This represents a 17.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.51% of the company’s stock.

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.