Schonfeld Strategic Advisors LLC Lowers Holdings in FTI Consulting, Inc. (NYSE:FCN)

Schonfeld Strategic Advisors LLC trimmed its position in FTI Consulting, Inc. (NYSE:FCN) by 6.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,224 shares of the business services provider’s stock after selling 166 shares during the period. Schonfeld Strategic Advisors LLC’s holdings in FTI Consulting were worth $425,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FCN. Barclays PLC grew its position in FTI Consulting by 160.8% in 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 during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of FTI Consulting during the 3rd quarter worth $35,000. PFW Advisors LLC purchased a new stake in shares of FTI Consulting during the 4th quarter worth $276,000. Oak Thistle LLC boosted its position in shares of FTI Consulting by 128.0% during the 4th quarter. Oak Thistle LLC now owns 2,925 shares of the business services provider’s stock worth $559,000 after purchasing an additional 1,642 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of FTI Consulting by 126.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 12,629 shares of the business services provider’s stock worth $2,414,000 after purchasing an additional 7,053 shares in the last quarter. 99.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

FTI Consulting Stock Down 1.1%

NYSE FCN opened at $165.00 on Monday. The stock has a market cap of $5.66 billion, a PE ratio of 21.15 and a beta of 0.18. FTI Consulting, Inc. has a fifty-two week low of $151.75 and a fifty-two week high of $243.60. The business has a 50 day moving average price of $163.51 and a two-hundred day moving average price of $182.87.

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

FTI Consulting declared that its board has approved a share repurchase program on Thursday, April 24th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the business services provider to reacquire up to 6.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other FTI Consulting news, CFO Ajay Sabherwal sold 5,236 shares of FTI Consulting stock in a transaction 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 transaction, the chief financial officer now owns 24,777 shares of the company’s stock, valued at $4,078,294.20. The trade was a 17.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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.