Short Interest in FTI Consulting, Inc. (NYSE:FCN) Decreases By 15.3%

FTI Consulting, Inc. (NYSE:FCN) saw a significant drop in short interest in the month of February. As of February 15th, there was short interest totalling 325,000 shares, a drop of 15.3% from the January 31st total of 383,800 shares. Based on an average daily volume of 254,100 shares, the days-to-cover ratio is currently 1.3 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Pacer Advisors Inc. increased its holdings in shares of FTI Consulting by 9,995.1% during the fourth quarter. Pacer Advisors Inc. now owns 518,687 shares of the business services provider’s stock valued at $99,137,000 after acquiring an additional 513,549 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of FTI Consulting by 86.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,018,868 shares of the business services provider’s stock valued at $194,737,000 after purchasing an additional 472,245 shares during the period. Black Creek Investment Management Inc. grew its holdings in FTI Consulting by 166.1% during the fourth quarter. Black Creek Investment Management Inc. now owns 652,980 shares of the business services provider’s stock valued at $124,804,000 after purchasing an additional 407,631 shares during the period. Mawer Investment Management Ltd. raised its position in shares of FTI Consulting by 3.8% during the 4th quarter. Mawer Investment Management Ltd. now owns 4,065,609 shares of the business services provider’s stock valued at $777,060,000 after purchasing an additional 149,276 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of FTI Consulting in the fourth quarter worth about $27,726,000. Hedge funds and other institutional investors own 99.36% of the company’s stock.

FTI Consulting Stock Performance

NYSE FCN opened at $171.13 on Wednesday. The stock has a market cap of $6.15 billion, a PE ratio of 21.94 and a beta of 0.15. The firm’s fifty day moving average price is $187.85 and its two-hundred day moving average price is $203.94. FTI Consulting has a fifty-two week low of $161.24 and a fifty-two week high of $243.60.

FTI Consulting (NYSE:FCN) last announced its earnings results on Thursday, February 20th. The business services provider reported $1.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($0.17). The company had revenue of $894.92 million during the quarter, compared to analysts’ expectations of $913.70 million. FTI Consulting had a return on equity of 13.15% and a net margin of 7.57%. As a group, sell-side analysts predict that FTI Consulting will post 8.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group decreased their price objective on shares of FTI Consulting from $194.00 to $173.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. StockNews.com cut FTI Consulting from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Finally, Truist Financial decreased their target price on FTI Consulting from $275.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, February 21st.

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.