Occudo Quantitative Strategies LP Increases Position in FTI Consulting, Inc. (NYSE:FCN)

Occudo Quantitative Strategies LP lifted its holdings in FTI Consulting, Inc. (NYSE:FCN) by 29.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,860 shares of the business services provider’s stock after purchasing an additional 643 shares during the quarter. Occudo Quantitative Strategies LP’s holdings in FTI Consulting were worth $547,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Lazard Asset Management LLC increased its stake in shares of FTI Consulting by 1,953.9% in the 4th quarter. Lazard Asset Management LLC now owns 12,200 shares of the business services provider’s stock valued at $2,331,000 after purchasing an additional 11,606 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of FTI Consulting in the 4th quarter valued at about $3,353,000. Gotham Asset Management LLC increased its stake in shares of FTI Consulting by 356.5% in the 4th quarter. Gotham Asset Management LLC now owns 63,325 shares of the business services provider’s stock valued at $12,103,000 after purchasing an additional 49,452 shares in the last quarter. Ethic Inc. increased its stake in shares of FTI Consulting by 15.7% in the 4th quarter. Ethic Inc. now owns 1,765 shares of the business services provider’s stock valued at $337,000 after purchasing an additional 239 shares in the last quarter. Finally, Deutsche Bank AG increased its stake in shares of FTI Consulting by 16.0% in the 4th quarter. Deutsche Bank AG now owns 5,069 shares of the business services provider’s stock valued at $969,000 after purchasing an additional 698 shares in the last quarter. Hedge funds and other institutional investors own 99.36% of the company’s stock.

Analysts Set New Price Targets

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

Insider Transactions at FTI Consulting

In other news, CFO Ajay Sabherwal sold 5,236 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $164.60, for a total transaction of $861,845.60. Following the transaction, the chief financial officer now directly owns 24,777 shares in the company, valued at $4,078,294.20. The trade was a 17.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.51% of the company’s stock.

FTI Consulting Trading Down 0.6%

FCN stock opened at $161.95 on Thursday. FTI Consulting, Inc. has a 12-month low of $151.75 and a 12-month high of $243.60. The stock has a market cap of $5.55 billion, a price-to-earnings ratio of 20.76 and a beta of 0.18. The business’s 50-day moving average is $163.13 and its 200 day moving average is $182.35.

FTI Consulting (NYSE:FCN) last issued its earnings results on Thursday, April 24th. The business services provider reported $2.29 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.50. The business had revenue of $898.28 million for 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 for the quarter was down 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.23 EPS. As a group, equities analysts forecast that FTI Consulting, Inc. will post 8.55 EPS for the current fiscal year.

FTI Consulting declared that its Board of Directors has authorized a stock buyback program 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 stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors 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.