First Trust Advisors LP Has $17.84 Million Holdings in FTI Consulting, Inc. (NYSE:FCN)

Posted by on Mar 10th, 2023

First Trust Advisors LP boosted its holdings in shares of FTI Consulting, Inc. (NYSE:FCN – Get Rating) by 56.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 107,636 shares of the business services provider’s stock after buying an additional 38,971 shares during the quarter. First Trust Advisors LP owned approximately 0.31% of FTI Consulting worth $17,836,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of FCN. Driehaus Capital Management LLC acquired a new position in FTI Consulting during the second quarter worth approximately $59,519,000. Axiom Investors LLC DE boosted its holdings in shares of FTI Consulting by 169.3% during the third quarter. Axiom Investors LLC DE now owns 281,165 shares of the business services provider’s stock worth $46,592,000 after acquiring an additional 176,769 shares during the period. Boston Partners boosted its holdings in shares of FTI Consulting by 104.5% during the third quarter. Boston Partners now owns 276,157 shares of the business services provider’s stock worth $45,358,000 after acquiring an additional 141,107 shares during the period. California Public Employees Retirement System boosted its holdings in shares of FTI Consulting by 76.4% during the second quarter. California Public Employees Retirement System now owns 135,339 shares of the business services provider’s stock worth $24,476,000 after acquiring an additional 58,625 shares during the period. Finally, Edgestream Partners L.P. boosted its holdings in shares of FTI Consulting by 433.0% during the second quarter. Edgestream Partners L.P. now owns 72,036 shares of the business services provider’s stock worth $13,028,000 after acquiring an additional 58,522 shares during the period.

FTI Consulting Trading Down 0.4 %

Shares of NYSE:FCN opened at $179.94 on Friday. FTI Consulting, Inc. has a 12-month low of $140.09 and a 12-month high of $190.43. The stock has a market cap of $6.10 billion, a PE ratio of 27.39 and a beta of 0.27. The business has a 50 day moving average of $166.02 and a 200-day moving average of $165.14. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.19.

FTI Consulting (NYSE:FCN – Get Rating) last issued its quarterly earnings results on Thursday, February 23rd. The business services provider reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.19. The business had revenue of $774.43 million during the quarter, compared to analysts’ expectations of $738.82 million. FTI Consulting had a return on equity of 14.73% and a net margin of 7.78%. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.13 earnings per share. As a group, equities research analysts forecast that FTI Consulting, Inc. will post 7.39 earnings per share for the current year.

Insider Activity at FTI Consulting

In related news, General Counsel Curtis P. Lu sold 2,511 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $182.73, for a total value of $458,835.03. Following the completion of the sale, the general counsel now directly owns 28,884 shares in the company, valued at $5,277,973.32. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, General Counsel Curtis P. Lu sold 2,511 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $182.73, for a total value of $458,835.03. Following the completion of the sale, the general counsel now directly owns 28,884 shares in the company, valued at $5,277,973.32. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Steven Henry Gunby sold 14,576 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $185.03, for a total value of $2,696,997.28. Following the completion of the sale, the chief executive officer now owns 514,481 shares of the company’s stock, valued at $95,194,419.43. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,930 shares of company stock worth $5,496,833. Company insiders own 3.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group initiated coverage on FTI Consulting in a report on Tuesday, January 10th. They set a “neutral” rating and a $167.00 price objective for the company.

About FTI Consulting

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FTI Consulting, Inc engages in the provision of financial, legal, operational, political and regulatory, reputational and transactional advisory services. It operates through the following segments: Corporate Finance and Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology, and Strategic Communications.

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Institutional Ownership by Quarter for FTI Consulting (NYSE:FCN)

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