Pallas Capital Advisors LLC Takes Position in FTI Consulting, Inc. (NYSE:FCN)

Pallas Capital Advisors LLC bought a new stake in shares of FTI Consulting, Inc. (NYSE:FCN) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,137 shares of the business services provider’s stock, valued at approximately $259,000.

A number of other hedge funds have also recently modified their holdings of FCN. UMB Bank n.a. grew its stake in shares of FTI Consulting by 76.6% during the third quarter. UMB Bank n.a. now owns 166 shares of the business services provider’s stock valued at $38,000 after buying an additional 72 shares during the last quarter. Signaturefd LLC grew its stake in shares of FTI Consulting by 65.9% during the second quarter. Signaturefd LLC now owns 204 shares of the business services provider’s stock valued at $44,000 after buying an additional 81 shares during the last quarter. Covestor Ltd grew its stake in shares of FTI Consulting by 76.4% during the first quarter. Covestor Ltd now owns 217 shares of the business services provider’s stock valued at $46,000 after buying an additional 94 shares during the last quarter. Versant Capital Management Inc grew 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 valued at $48,000 after buying an additional 190 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. grew its stake in shares of FTI Consulting by 284.1% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 242 shares of the business services provider’s stock valued at $52,000 after buying an additional 179 shares during the last quarter. Institutional investors own 99.36% of the company’s stock.

FTI Consulting Stock Performance

Shares of FCN opened at $198.92 on Friday. The company has a 50 day moving average price of $221.67 and a 200-day moving average price of $219.02. FTI Consulting, Inc. has a fifty-two week low of $185.93 and a fifty-two week high of $243.60. The stock has a market capitalization of $7.15 billion, a PE ratio of 22.86 and a beta of 0.10.

FTI Consulting (NYSE:FCN) last announced its earnings results on Thursday, October 24th. The business services provider reported $1.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.06 by ($0.21). The company had revenue of $926.00 million for the quarter, compared to the consensus estimate of $946.16 million. FTI Consulting had a net margin of 8.37% and a return on equity of 14.79%. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same period last year, the business posted $2.34 EPS. Equities research analysts forecast that FTI Consulting, Inc. will post 8.1 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Truist Financial increased their price objective on FTI Consulting from $255.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. StockNews.com upgraded FTI Consulting from a “hold” rating to a “buy” rating in a research note on Saturday.

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.