FTI Consulting, Inc. (NYSE:FCN) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC lessened its stake in shares of FTI Consulting, Inc. (NYSE:FCN) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 123,048 shares of the business services provider’s stock after selling 2,410 shares during the quarter. Nuveen Asset Management LLC’s holdings in FTI Consulting were worth $23,518,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of FCN. Barclays PLC lifted its stake in shares of FTI Consulting by 160.8% during the third quarter. Barclays PLC now owns 25,929 shares of the business services provider’s stock worth $5,901,000 after purchasing an additional 15,986 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of FTI Consulting by 126.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 12,629 shares of the business services provider’s stock valued at $2,414,000 after purchasing an additional 7,053 shares during the period. UMB Bank n.a. raised its stake in shares of FTI Consulting by 59.6% during the fourth quarter. UMB Bank n.a. now owns 265 shares of the business services provider’s stock valued at $51,000 after purchasing an additional 99 shares during the period. Dakota Wealth Management raised its stake in shares of FTI Consulting by 570.2% during the fourth quarter. Dakota Wealth Management now owns 6,521 shares of the business services provider’s stock valued at $1,246,000 after purchasing an additional 5,548 shares during the period. Finally, Wesbanco Bank Inc. raised its stake in shares of FTI Consulting by 31.4% during the fourth quarter. Wesbanco Bank Inc. now owns 4,186 shares of the business services provider’s stock valued at $800,000 after purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds own 99.36% of the company’s stock.

FTI Consulting Stock Performance

Shares of NYSE FCN opened at $166.64 on Friday. FTI Consulting, Inc. has a 1 year low of $151.75 and a 1 year high of $243.60. The firm has a market cap of $5.71 billion, a price-to-earnings ratio of 21.36 and a beta of 0.18. The stock’s 50-day simple moving average is $163.55 and its 200-day simple moving average is $181.02.

FTI Consulting (NYSE:FCN) last issued its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.79 by $0.50. The business had revenue of $898.28 million during the quarter, compared to analyst estimates of $906.93 million. FTI Consulting had a net margin of 7.57% and a return on equity of 13.15%. The business’s revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.23 earnings per share. As a group, research analysts predict that FTI Consulting, Inc. will post 8.55 EPS for the current year.

FTI Consulting announced that its Board of Directors has authorized a stock buyback plan on Thursday, April 24th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the business services provider to repurchase up to 6.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms have recently issued reports on FCN. Wall Street Zen lowered shares of FTI Consulting from a “buy” rating to a “hold” rating in a research note on Thursday, April 3rd. The Goldman Sachs Group dropped their price objective on shares of FTI Consulting from $194.00 to $173.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. William Blair reaffirmed an “outperform” rating on shares of FTI Consulting in a research report on Friday, April 25th. Finally, Truist Financial lowered FTI Consulting from a “buy” rating to a “hold” rating and dropped their target price for the stock from $225.00 to $178.00 in a research report on Wednesday, April 2nd.

Insider Buying and Selling

In related news, CFO Ajay Sabherwal sold 5,236 shares of the business’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $164.60, for a total value of $861,845.60. Following the completion of the sale, the chief financial officer now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.51% of the company’s stock.

FTI Consulting Company 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.