S&T Bank PA Acquires New Stake in FTI Consulting, Inc. (FCN)
S&T Bank PA acquired a new stake in shares of FTI Consulting, Inc. (NYSE:FCN) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 303,898 shares of the business services provider’s stock, valued at approximately $10,624,000. FTI Consulting comprises 1.9% of S&T Bank PA’s portfolio, making the stock its 19th biggest holding. S&T Bank PA owned 0.77% of FTI Consulting at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of FCN. Shelton Capital Management lifted its holdings in FTI Consulting by 13.7% in the second quarter. Shelton Capital Management now owns 14,977 shares of the business services provider’s stock valued at $524,000 after acquiring an additional 1,809 shares during the period. Black Creek Investment Management Inc. boosted its position in FTI Consulting by 19.6% in the second quarter. Black Creek Investment Management Inc. now owns 4,512,287 shares of the business services provider’s stock worth $157,750,000 after purchasing an additional 739,072 shares during the last quarter. Numeric Investors LLC purchased a new position in FTI Consulting in the second quarter worth about $1,465,000. California Public Employees Retirement System boosted its position in FTI Consulting by 2.1% in the second quarter. California Public Employees Retirement System now owns 111,892 shares of the business services provider’s stock worth $3,912,000 after purchasing an additional 2,300 shares during the last quarter. Finally, Northern Trust Corp boosted its position in FTI Consulting by 34.0% in the second quarter. Northern Trust Corp now owns 1,230,348 shares of the business services provider’s stock worth $43,013,000 after purchasing an additional 311,939 shares during the last quarter. Institutional investors own 92.28% of the company’s stock.
A number of research firms have issued reports on FCN. Zacks Investment Research downgraded FTI Consulting from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. BidaskClub cut shares of FTI Consulting from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $43.00.
Shares of FTI Consulting, Inc. (NYSE:FCN) traded down 0.558% on Wednesday, hitting $36.505. 62,900 shares of the stock traded hands. FTI Consulting, Inc. has a one year low of $31.65 and a one year high of $47.12. The stock has a 50 day moving average of $34.18 and a 200 day moving average of $35.47. The company has a market cap of $1.44 billion, a PE ratio of 39.940 and a beta of 0.28.
FTI Consulting (NYSE:FCN) last released its earnings results on Thursday, July 27th. The business services provider reported $0.40 EPS for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.13). FTI Consulting had a return on equity of 5.18% and a net margin of 2.13%. The firm had revenue of $447.70 million for the quarter, compared to analyst estimates of $455.55 million. During the same period last year, the firm earned $0.66 EPS. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. Equities analysts anticipate that FTI Consulting, Inc. will post $1.87 earnings per share for the current year.
FTI Consulting Company 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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