Brandes Investment Partners LP Boosts Position in FTI Consulting, Inc. (FCN)
Brandes Investment Partners LP increased its stake in FTI Consulting, Inc. (NYSE:FCN) by 42.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 274,790 shares of the business services provider’s stock after buying an additional 81,463 shares during the period. Brandes Investment Partners LP owned 0.69% of FTI Consulting worth $9,607,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of FCN. Meadow Creek Investment Management LLC raised its stake in shares of FTI Consulting by 24.7% in the first quarter. Meadow Creek Investment Management LLC now owns 2,548 shares of the business services provider’s stock valued at $105,000 after buying an additional 504 shares in the last quarter. Acrospire Investment Management LLC raised its stake in shares of FTI Consulting by 57.9% in the first quarter. Acrospire Investment Management LLC now owns 2,726 shares of the business services provider’s stock valued at $112,000 after buying an additional 1,000 shares in the last quarter. LS Investment Advisors LLC raised its stake in shares of FTI Consulting by 17.4% in the second quarter. LS Investment Advisors LLC now owns 3,307 shares of the business services provider’s stock valued at $116,000 after buying an additional 491 shares in the last quarter. TrimTabs Asset Management LLC bought a new stake in shares of FTI Consulting during the first quarter valued at $121,000. Finally, Glen Harbor Capital Management LLC raised its stake in shares of FTI Consulting by 24.7% in the first quarter. Glen Harbor Capital Management LLC now owns 3,094 shares of the business services provider’s stock valued at $128,000 after buying an additional 612 shares in the last quarter. 92.31% of the stock is currently owned by hedge funds and other institutional investors.
Shares of FTI Consulting, Inc. (NYSE:FCN) opened at 33.99 on Friday. FTI Consulting, Inc. has a 12 month low of $31.65 and a 12 month high of $47.12. The firm has a 50-day moving average price of $33.01 and a 200 day moving average price of $36.45. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 37.19 and a beta of 0.27.
FTI Consulting (NYSE:FCN) last announced its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by $0.13. The company had revenue of $447.70 million during the quarter, compared to analyst estimates of $455.55 million. FTI Consulting had a net margin of 2.13% and a return on equity of 5.18%. FTI Consulting’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 EPS. On average, analysts anticipate that FTI Consulting, Inc. will post $1.87 EPS for the current fiscal year.
FTI Consulting announced that its Board of Directors has approved a stock buyback plan on Friday, May 19th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to reacquire up to 7.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
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Several equities research analysts have weighed in on FCN shares. BidaskClub raised FTI Consulting from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. Zacks Investment Research lowered FTI Consulting from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $43.00.
About FTI Consulting
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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