Swiss National Bank Sells 900 Shares of FTI Consulting, Inc. (NYSE:FCN)

Swiss National Bank reduced its stake in shares of FTI Consulting, Inc. (NYSE:FCN) by 1.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,700 shares of the business services provider’s stock after selling 900 shares during the quarter. Swiss National Bank’s holdings in FTI Consulting were worth $11,436,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. increased 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 worth $194,737,000 after purchasing an additional 472,245 shares during the period. Victory Capital Management Inc. lifted its stake in shares of FTI Consulting by 11.0% in the first quarter. Victory Capital Management Inc. now owns 1,549,781 shares of the business services provider’s stock valued at $254,288,000 after buying an additional 153,523 shares during the period. Raymond James Financial Inc. acquired a new stake in FTI Consulting during the fourth quarter worth about $27,726,000. Capital World Investors increased its stake in FTI Consulting by 1,191.6% during the fourth quarter. Capital World Investors now owns 71,246 shares of the business services provider’s stock valued at $13,617,000 after acquiring an additional 65,730 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in FTI Consulting by 30.4% during the fourth quarter. Ameriprise Financial Inc. now owns 276,702 shares of the business services provider’s stock valued at $52,886,000 after acquiring an additional 64,431 shares during the period. 99.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, William Blair reiterated an “outperform” rating on shares of FTI Consulting in a research report on Friday, April 25th.

FTI Consulting Trading Down 0.8%

Shares of FTI Consulting stock opened at $167.74 on Friday. The firm has a market capitalization of $5.43 billion, a PE ratio of 23.62 and a beta of 0.18. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.11 and a quick ratio of 2.11. The company’s fifty day moving average price is $164.92 and its two-hundred day moving average price is $167.73. FTI Consulting, Inc. has a 52-week low of $151.75 and a 52-week high of $231.65.

FTI Consulting (NYSE:FCN) last issued its earnings results on Thursday, July 24th. The business services provider reported $2.13 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.26. The business had revenue of $943.66 million for the quarter, compared to analyst estimates of $928.38 million. FTI Consulting had a net margin of 6.82% and a return on equity of 12.88%. The firm’s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the business earned $2.34 EPS. On average, analysts expect that FTI Consulting, Inc. will post 8.55 EPS for the current year.

FTI Consulting announced that its board has authorized a share repurchase plan on Thursday, April 24th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the business services provider to purchase up to 6.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are 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.