Mercer Global Advisors Inc. ADV Trims Stake in FTI Consulting, Inc. (NYSE:FCN)

Mercer Global Advisors Inc. ADV lowered its holdings in FTI Consulting, Inc. (NYSE:FCN) by 16.1% during the second quarter, Holdings Channel.com reports. The firm owned 1,177 shares of the business services provider’s stock after selling 226 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in FTI Consulting were worth $254,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of FCN. Signaturefd LLC boosted its position in shares of FTI Consulting by 65.9% during the 2nd quarter. Signaturefd LLC now owns 204 shares of the business services provider’s stock worth $44,000 after acquiring an additional 81 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in shares of FTI Consulting by 494.6% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 220 shares of the business services provider’s stock worth $46,000 after acquiring an additional 183 shares during the period. Covestor Ltd lifted its stake in shares of FTI Consulting by 76.4% in the 1st quarter. Covestor Ltd now owns 217 shares of the business services provider’s stock worth $46,000 after acquiring an additional 94 shares during the period. Versant Capital Management Inc increased its stake in shares of FTI Consulting by 593.8% during the second quarter. Versant Capital Management Inc now owns 222 shares of the business services provider’s stock worth $48,000 after acquiring an additional 190 shares during the period. Finally, Quarry LP acquired a new position in shares of FTI Consulting during the fourth quarter worth about $56,000. Hedge funds and other institutional investors own 99.36% of the company’s stock.

Insider Buying and Selling

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

FTI Consulting Trading Up 1.0 %

NYSE FCN opened at $227.56 on Tuesday. FTI Consulting, Inc. has a 12 month low of $177.00 and a 12 month high of $243.60. 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 capitalization of $8.12 billion, a price-to-earnings ratio of 26.46 and a beta of 0.10. The company’s fifty day moving average price is $222.95 and its two-hundred day moving average price is $217.30.

FTI Consulting (NYSE:FCN) last issued its 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. FTI Consulting had a net margin of 8.90% and a return on equity of 16.34%. The company had revenue of $949.16 million for the quarter, compared to analysts’ expectations of $938.67 million. During the same period in the prior year, the company earned $1.75 earnings per share. The firm’s revenue was up 9.8% compared to the same quarter last year. As a group, research analysts predict that FTI Consulting, Inc. will post 8.48 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. William Blair restated an “outperform” rating on shares of FTI Consulting in a research report on Tuesday, June 25th. Truist Financial boosted their price objective on shares of FTI Consulting from $255.00 to $275.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Finally, StockNews.com raised shares of FTI Consulting from a “hold” rating to a “buy” rating in a research report on Thursday, July 25th.

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.