State of Tennessee Treasury Department cut its stake in FTI Consulting, Inc. (NYSE:FCN) by 6.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 55,661 shares of the business services provider’s stock after selling 3,627 shares during the period. State of Tennessee Treasury Department’s holdings in FTI Consulting were worth $4,276,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bank of Montreal Can lifted its position in shares of FTI Consulting by 37.4% in the 4th quarter. Bank of Montreal Can now owns 1,936 shares of the business services provider’s stock worth $128,000 after purchasing an additional 527 shares during the period. AdvisorNet Financial Inc purchased a new stake in shares of FTI Consulting during the 4th quarter valued at about $131,000. Magnus Financial Group LLC purchased a new stake in shares of FTI Consulting during the 4th quarter valued at about $207,000. Oppenheimer & Co. Inc. purchased a new stake in shares of FTI Consulting during the 1st quarter valued at about $253,000. Finally, Quantamental Technologies LLC purchased a new position in shares of FTI Consulting in the first quarter worth approximately $254,000. 96.87% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently issued reports on FCN. ValuEngine downgraded shares of FTI Consulting from a “buy” rating to a “hold” rating in a report on Friday, April 26th. SunTrust Banks raised their price objective on shares of FTI Consulting to $88.00 and gave the stock a “hold” rating in a report on Tuesday, April 30th.
In other FTI Consulting news, Director Gerard E. Holthaus sold 8,884 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $86.82, for a total transaction of $771,308.88. Following the transaction, the director now owns 77,759 shares in the company, valued at $6,751,036.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Holly Paul sold 9,574 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $84.41, for a total transaction of $808,141.34. Following the transaction, the insider now owns 25,792 shares in the company, valued at approximately $2,177,102.72. The disclosure for this sale can be found here. Insiders have sold 28,458 shares of company stock worth $2,446,950 in the last quarter. Company insiders own 2.19% of the company’s stock.
Shares of FCN opened at $84.24 on Friday. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.19. FTI Consulting, Inc. has a fifty-two week low of $59.06 and a fifty-two week high of $87.34. The firm has a market capitalization of $3.20 billion, a P/E ratio of 21.06 and a beta of 0.32.
FTI Consulting (NYSE:FCN) last posted its quarterly earnings data on Thursday, April 25th. The business services provider reported $1.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.63. FTI Consulting had a net margin of 8.37% and a return on equity of 13.13%. The business had revenue of $551.27 million for the quarter, compared to analysts’ expectations of $517.69 million. During the same quarter in the previous year, the business posted $1.04 earnings per share. The business’s revenue was up 10.7% compared to the same quarter last year. As a group, analysts anticipate that FTI Consulting, Inc. will post 4.24 EPS for the current year.
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FTI Consulting Profile
FTI Consulting, Inc provides business advisory services to manage change, mitigate risk, and resolve disputes worldwide. The company's Corporate Finance & Restructuring segment provides turnaround and restructuring, business transformation, interim management, valuation and financial advisory, transaction, dispute advisory, and tax services, as well as mergers and acquisitions (M&A), and M&A integration services.
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