Washington Capital Management Inc. Cuts Stock Holdings in FTI Consulting, Inc. (NYSE:FCN)

Washington Capital Management Inc. trimmed its position in shares of FTI Consulting, Inc. (NYSE:FCN) by 49.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,300 shares of the business services provider’s stock after selling 1,250 shares during the quarter. Washington Capital Management Inc.’s holdings in FTI Consulting were worth $259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. KB Financial Partners LLC boosted its holdings in FTI Consulting by 1.0% during the 3rd quarter. KB Financial Partners LLC now owns 5,996 shares of the business services provider’s stock worth $1,070,000 after acquiring an additional 58 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of FTI Consulting by 37.1% in the 3rd quarter. Fifth Third Bancorp now owns 218 shares of the business services provider’s stock worth $39,000 after buying an additional 59 shares during the last quarter. Procyon Advisors LLC boosted its holdings in shares of FTI Consulting by 4.9% in the 4th quarter. Procyon Advisors LLC now owns 1,266 shares of the business services provider’s stock worth $252,000 after buying an additional 59 shares during the last quarter. Advisor Partners II LLC boosted its holdings in shares of FTI Consulting by 2.1% in the 1st quarter. Advisor Partners II LLC now owns 2,975 shares of the business services provider’s stock worth $587,000 after buying an additional 62 shares during the last quarter. Finally, Portside Wealth Group LLC boosted its holdings in shares of FTI Consulting by 5.1% in the 4th quarter. Portside Wealth Group LLC now owns 1,309 shares of the business services provider’s stock worth $261,000 after buying an additional 63 shares during the last quarter. 99.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Truist Financial boosted their price target on shares of FTI Consulting from $240.00 to $255.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. StockNews.com raised shares of FTI Consulting from a “hold” rating to a “buy” rating in a report on Thursday, March 14th.

FTI Consulting Stock Performance

Shares of FTI Consulting stock opened at $210.29 on Friday. FTI Consulting, Inc. has a 52-week low of $167.39 and a 52-week high of $232.15. The stock’s 50-day simple moving average is $201.82 and its 200 day simple moving average is $201.90. The stock has a market capitalization of $7.47 billion, a P/E ratio of 27.27 and a beta of 0.12.

FTI Consulting (NYSE:FCN) last announced its quarterly earnings data on Thursday, February 22nd. The business services provider reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.71. FTI Consulting had a return on equity of 14.94% and a net margin of 7.88%. The business had revenue of $924.68 million for the quarter, compared to analysts’ expectations of $840.40 million. During the same period in the previous year, the business posted $1.52 EPS. The firm’s quarterly revenue was up 19.4% compared to the same quarter last year. Equities research analysts forecast that FTI Consulting, Inc. will post 8.15 EPS for the current fiscal year.

Insider Activity at FTI Consulting

In related news, Director Brenda J. Bacon purchased 1,120 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were purchased at an average cost of $222.96 per share, for a total transaction of $249,715.20. Following the completion of the transaction, the director now directly owns 15,292 shares in the company, valued at approximately $3,409,504.32. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Brenda J. Bacon purchased 1,120 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were purchased at an average cost of $222.96 per share, for a total transaction of $249,715.20. Following the completion of the transaction, the director now directly owns 15,292 shares in the company, valued at approximately $3,409,504.32. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul Alderman Linton sold 27,000 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $206.10, for a total value of $5,564,700.00. Following the sale, the insider now owns 44,284 shares in the company, valued at $9,126,932.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,715 shares of company stock worth $7,617,513. Company insiders own 3.34% of the company’s stock.

FTI Consulting Company 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.