CIBC Asset Management Inc Invests $214,000 in FTI Consulting, Inc. (NYSE:FCN)

CIBC Asset Management Inc acquired a new position in FTI Consulting, Inc. (NYSE:FCN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 991 shares of the business services provider’s stock, valued at approximately $214,000.

Several other institutional investors have also recently made changes to their positions in FCN. Nordea Investment Management AB raised its stake in FTI Consulting by 458.7% during the 1st quarter. Nordea Investment Management AB now owns 17,287 shares of the business services provider’s stock valued at $3,652,000 after purchasing an additional 14,193 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in FTI Consulting during the 1st quarter valued at approximately $584,000. DB Fitzpatrick & Co Inc raised its stake in FTI Consulting by 135.1% during the 2nd quarter. DB Fitzpatrick & Co Inc now owns 5,931 shares of the business services provider’s stock valued at $1,278,000 after purchasing an additional 3,408 shares during the period. Axiom Investors LLC DE raised its stake in FTI Consulting by 35.3% during the 4th quarter. Axiom Investors LLC DE now owns 330,244 shares of the business services provider’s stock valued at $65,768,000 after purchasing an additional 86,140 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in FTI Consulting by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 415,928 shares of the business services provider’s stock valued at $82,832,000 after purchasing an additional 17,796 shares during the period. Institutional investors own 99.36% of the company’s stock.

Analyst Ratings Changes

FCN has been the topic of several recent analyst reports. StockNews.com raised FTI Consulting from a “hold” rating to a “buy” rating in a research note on Thursday, July 25th. William Blair reissued an “outperform” rating on shares of FTI Consulting in a research note on Tuesday, June 25th.

FTI Consulting Stock Performance

NYSE:FCN opened at $218.08 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.20 and a quick ratio of 2.20. FTI Consulting, Inc. has a 1 year low of $174.75 and a 1 year high of $243.60. The stock’s 50 day simple moving average is $221.78 and its two-hundred day simple moving average is $215.60. The company has a market cap of $7.83 billion, a price-to-earnings ratio of 25.36 and a beta of 0.10.

FTI Consulting (NYSE:FCN) last released its quarterly earnings data on Thursday, July 25th. The business services provider reported $2.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.32. FTI Consulting had a return on equity of 16.34% and a net margin of 8.90%. The business had revenue of $949.16 million for the quarter, compared to the consensus estimate of $938.67 million. During the same quarter in the previous year, the company posted $1.75 EPS. The company’s revenue was up 9.8% compared to the same quarter last year. As a group, equities analysts anticipate that FTI Consulting, Inc. will post 8.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Mark S. Bartlett sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $227.12, for a total transaction of $454,240.00. Following the transaction, the director now owns 26,099 shares of the company’s stock, valued at approximately $5,927,604.88. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.51% of the company’s stock.

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.