Point72 Hong Kong Ltd Purchases Shares of 3,337 FTI Consulting, Inc. (NYSE:FCN)

Point72 Hong Kong Ltd purchased a new stake in FTI Consulting, Inc. (NYSE:FCN) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,337 shares of the business services provider’s stock, valued at approximately $719,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. US Bancorp DE raised its stake in shares of FTI Consulting by 9.3% in the fourth quarter. US Bancorp DE now owns 10,549 shares of the business services provider’s stock worth $2,101,000 after acquiring an additional 897 shares during the last quarter. Hsbc Holdings PLC raised its stake in shares of FTI Consulting by 470.8% in the fourth quarter. Hsbc Holdings PLC now owns 7,141 shares of the business services provider’s stock worth $1,432,000 after acquiring an additional 5,890 shares during the last quarter. TD Asset Management Inc raised its stake in shares of FTI Consulting by 7.7% in the fourth quarter. TD Asset Management Inc now owns 8,400 shares of the business services provider’s stock worth $1,673,000 after acquiring an additional 600 shares during the last quarter. Stifel Financial Corp raised its stake in shares of FTI Consulting by 5.5% in the fourth quarter. Stifel Financial Corp now owns 63,827 shares of the business services provider’s stock worth $12,711,000 after acquiring an additional 3,343 shares during the last quarter. Finally, Olympiad Research LP bought a new position in shares of FTI Consulting in the fourth quarter worth about $230,000. 99.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at FTI Consulting

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

FTI Consulting Trading Down 0.1 %

FCN opened at $227.30 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.20 and a quick ratio of 2.20. The company has a market cap of $8.11 billion, a price-to-earnings ratio of 26.43 and a beta of 0.10. The firm has a 50 day simple moving average of $223.04 and a 200 day simple moving average of $216.81. FTI Consulting, Inc. has a fifty-two week low of $176.09 and a fifty-two week high of $243.60.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. William Blair reaffirmed an “outperform” rating on shares of FTI Consulting in a research note on Tuesday, June 25th. StockNews.com raised shares of FTI Consulting from a “hold” rating to a “buy” rating in a research note on Thursday, July 25th. Finally, Truist Financial boosted their price target on shares of FTI Consulting from $255.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday.

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.