California State Teachers Retirement System lessened its stake in shares of FTI Consulting, Inc. (NYSE:FCN) by 13.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 63,095 shares of the business services provider’s stock after selling 9,884 shares during the period. California State Teachers Retirement System owned about 0.17% of FTI Consulting worth $2,239,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FCN. Riverhead Capital Management LLC raised its holdings in FTI Consulting by 81.1% during the second quarter. Riverhead Capital Management LLC now owns 2,898 shares of the business services provider’s stock worth $101,000 after acquiring an additional 1,298 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in FTI Consulting by 12.8% during the second quarter. Public Employees Retirement System of Ohio now owns 4,698 shares of the business services provider’s stock worth $164,000 after acquiring an additional 533 shares in the last quarter. Pinebridge Investments L.P. bought a new stake in FTI Consulting during the third quarter worth about $174,000. Amalgamated Bank raised its holdings in FTI Consulting by 0.6% during the second quarter. Amalgamated Bank now owns 5,870 shares of the business services provider’s stock worth $205,000 after acquiring an additional 37 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new stake in FTI Consulting during the second quarter worth about $214,000. Institutional investors and hedge funds own 97.19% of the company’s stock.
FCN has been the topic of several analyst reports. Zacks Investment Research lowered FTI Consulting from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. TheStreet upgraded FTI Consulting from a “c” rating to a “b” rating in a report on Thursday, October 26th.
Shares of FTI Consulting, Inc. (NYSE:FCN) opened at $43.65 on Tuesday. FTI Consulting, Inc. has a twelve month low of $31.65 and a twelve month high of $45.27. The stock has a market capitalization of $1,660.00, a PE ratio of 35.49 and a beta of 0.34. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.41.
FTI Consulting (NYSE:FCN) last released its earnings results on Thursday, October 26th. The business services provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.24. FTI Consulting had a return on equity of 6.12% and a net margin of 2.70%. The business had revenue of $448.96 million for the quarter, compared to analyst estimates of $446.63 million. During the same quarter in the prior year, the company posted $0.52 earnings per share. FTI Consulting’s revenue was up 2.5% on a year-over-year basis. analysts expect that FTI Consulting, Inc. will post 2.06 EPS for the current fiscal year.
FTI Consulting declared that its Board of Directors has authorized a share repurchase program on Monday, December 4th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the business services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
FTI Consulting Profile
FTI Consulting, Inc is a business advisory company. The Company operates through five segments: Corporate Finance & Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology and Strategic Communications. The Company provides advice and services, such as restructuring (including bankruptcy), capital formation and indebtedness, interim business management, performance improvements, forensic accounting and litigation matters, international arbitrations, mergers and acquisitions (M&A), antitrust and competition matters, securities litigation, electronic discovery (or e-discovery), management and retrieval of electronically stored information (ESI), reputation management and strategic communications.
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