17,542 Shares in FTI Consulting, Inc. (NYSE:FCN) Bought by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. purchased a new position in FTI Consulting, Inc. (NYSE:FCN) during the fourth quarter, Holdings Channel reports. The firm purchased 17,542 shares of the business services provider’s stock, valued at approximately $3,353,000.

A number of other hedge funds also recently modified their holdings of the stock. CIBC Asset Management Inc increased its position in shares of FTI Consulting by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 1,083 shares of the business services provider’s stock worth $207,000 after purchasing an additional 55 shares during the period. GeoWealth Management LLC increased its position in shares of FTI Consulting by 46.0% in the fourth quarter. GeoWealth Management LLC now owns 181 shares of the business services provider’s stock worth $35,000 after purchasing an additional 57 shares during the period. Exchange Traded Concepts LLC increased its position in shares of FTI Consulting by 2.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 3,435 shares of the business services provider’s stock worth $657,000 after purchasing an additional 85 shares during the period. Sequoia Financial Advisors LLC increased its position in shares of FTI Consulting by 3.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 2,389 shares of the business services provider’s stock worth $457,000 after purchasing an additional 89 shares during the period. Finally, UMB Bank n.a. increased its position in shares of FTI Consulting by 59.6% in the fourth quarter. UMB Bank n.a. now owns 265 shares of the business services provider’s stock worth $51,000 after purchasing an additional 99 shares during the period. Institutional investors own 99.36% of the company’s stock.

Insider Activity

In other news, CFO Ajay Sabherwal sold 5,236 shares of FTI Consulting stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $164.60, for a total transaction of $861,845.60. Following 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 trade represents a 17.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.51% of the company’s stock.

Wall Street Analyst Weigh In

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

FTI Consulting Stock Down 0.6%

NYSE:FCN opened at $161.95 on Thursday. The stock’s 50-day simple moving average is $163.13 and its 200 day simple moving average is $182.35. The firm has a market capitalization of $5.55 billion, a PE ratio of 20.76 and a beta of 0.18. FTI Consulting, Inc. has a twelve month low of $151.75 and a twelve month high of $243.60.

FTI Consulting (NYSE:FCN) last announced its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.50. FTI Consulting had a return on equity of 13.15% and a net margin of 7.57%. The firm had revenue of $898.28 million for the quarter, compared to analyst estimates of $906.93 million. During the same period last year, the firm posted $2.23 earnings per share. The business’s revenue for the quarter was down 3.3% on a year-over-year basis. On average, analysts anticipate that FTI Consulting, Inc. will post 8.55 EPS for the current fiscal year.

FTI Consulting announced that its Board of Directors has approved a share 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 repurchase 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 stock is undervalued.

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.