Xponance Inc. Lowers Stake in FTI Consulting, Inc. (NYSE:FCN)

Xponance Inc. cut its stake in FTI Consulting, Inc. (NYSE:FCN) by 21.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,015 shares of the business services provider’s stock after selling 1,085 shares during the period. Xponance Inc.’s holdings in FTI Consulting were worth $865,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of FTI Consulting by 4.7% in the 4th quarter. Vanguard Group Inc. now owns 3,535,586 shares of the business services provider’s stock worth $704,112,000 after purchasing an additional 157,206 shares in the last quarter. Mawer Investment Management Ltd. boosted its stake in FTI Consulting by 4.1% in the first quarter. Mawer Investment Management Ltd. now owns 3,810,200 shares of the business services provider’s stock worth $801,247,000 after buying an additional 149,722 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in FTI Consulting during the first quarter valued at approximately $22,540,000. American Century Companies Inc. raised its stake in shares of FTI Consulting by 76.3% during the second quarter. American Century Companies Inc. now owns 224,744 shares of the business services provider’s stock worth $48,439,000 after acquiring an additional 97,244 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of FTI Consulting by 6.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 692,044 shares of the business services provider’s stock worth $149,164,000 after acquiring an additional 39,271 shares during the last quarter. 99.36% of the stock is currently owned by hedge funds and other institutional investors.

FTI Consulting Trading Down 0.9 %

NYSE:FCN opened at $225.30 on Friday. The firm has a market capitalization of $8.04 billion, a P/E ratio of 26.20 and a beta of 0.10. FTI Consulting, Inc. has a 52 week low of $177.00 and a 52 week high of $243.60. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 0.03. The company has a fifty day moving average of $223.01 and a 200 day moving average of $217.04.

FTI Consulting (NYSE:FCN) last posted 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 during the quarter, compared to analyst estimates of $938.67 million. During the same period in the prior year, the business posted $1.75 earnings per share. FTI Consulting’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, research analysts predict that FTI Consulting, Inc. will post 8.48 earnings per share for the current year.

Insider Transactions at FTI Consulting

In related news, Director Mark S. Bartlett sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was 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 $5,927,604.88. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FCN. William Blair reiterated an “outperform” rating on shares of FTI Consulting in a research report on Tuesday, June 25th. StockNews.com raised FTI Consulting from a “hold” rating to a “buy” rating in a research note on Thursday, July 25th. Finally, Truist Financial raised their price target on FTI Consulting from $255.00 to $275.00 and gave the stock a “buy” rating in a research report on Wednesday.

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.