Hsbc Holdings PLC Trims Position in FTI Consulting, Inc. (NYSE:FCN)

Hsbc Holdings PLC decreased its holdings in FTI Consulting, Inc. (NYSE:FCN) by 89.7% in the second quarter, Holdings Channel reports. The fund owned 1,241 shares of the business services provider’s stock after selling 10,834 shares during the quarter. Hsbc Holdings PLC’s holdings in FTI Consulting were worth $267,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FCN. Nordea Investment Management AB lifted its stake in shares of FTI Consulting by 458.7% in 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 last quarter. Susquehanna Fundamental Investments LLC purchased a new position in FTI Consulting during the 1st quarter valued at $584,000. DB Fitzpatrick & Co Inc lifted its position in shares of FTI Consulting by 135.1% in the 2nd quarter. DB Fitzpatrick & Co Inc now owns 5,931 shares of the business services provider’s stock worth $1,278,000 after purchasing an additional 3,408 shares during the period. SG Americas Securities LLC increased its holdings in FTI Consulting by 298.4% during the second quarter. SG Americas Securities LLC now owns 4,060 shares of the business services provider’s stock valued at $875,000 after buying an additional 3,041 shares during the period. Finally, Diversify Advisory Services LLC bought a new position in FTI Consulting in the first quarter worth approximately $922,000. Hedge funds and other institutional investors own 99.36% of the company’s stock.

Insiders Place Their Bets

In related news, Director Mark S. Bartlett sold 2,000 shares of the stock in a transaction dated 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 available through this hyperlink. Corporate insiders own 2.51% of the company’s stock.

FTI Consulting Stock Down 0.5 %

Shares of FCN opened at $224.81 on Friday. The company has a market capitalization of $8.03 billion, a price-to-earnings ratio of 26.14 and a beta of 0.10. FTI Consulting, Inc. has a 52 week low of $179.19 and a 52 week high of $243.60. The stock’s 50-day moving average price is $222.88 and its 200-day moving average price is $217.52. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 0.03.

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

Analyst Ratings Changes

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

FTI Consulting 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.