FTI Consulting, Inc. (NYSE:FCN) Sees Large Growth in Short Interest

FTI Consulting, Inc. (NYSE:FCN) was the recipient of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 469,400 shares, an increase of 34.9% from the February 28th total of 347,900 shares. Based on an average trading volume of 320,700 shares, the days-to-cover ratio is presently 1.5 days. Currently, 1.3% of the shares of the company are sold short.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FCN. StockNews.com upgraded FTI Consulting from a “hold” rating to a “buy” rating in a research report on Thursday, March 20th. Truist Financial decreased their target price on shares of FTI Consulting from $275.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Finally, The Goldman Sachs Group dropped their price target on shares of FTI Consulting from $194.00 to $173.00 and set a “neutral” rating on the stock in a research report on Friday, February 21st.

Institutional Trading of FTI Consulting

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB acquired a new position in FTI Consulting in the third quarter worth approximately $35,000. GeoWealth Management LLC boosted its stake in shares of FTI Consulting by 46.0% during the 4th quarter. GeoWealth Management LLC now owns 181 shares of the business services provider’s stock worth $35,000 after acquiring an additional 57 shares in the last quarter. Quarry LP grew its holdings in shares of FTI Consulting by 337.8% in the 3rd quarter. Quarry LP now owns 162 shares of the business services provider’s stock worth $37,000 after acquiring an additional 125 shares during the last quarter. True Wealth Design LLC acquired a new position in shares of FTI Consulting in the 3rd quarter worth $38,000. Finally, Jones Financial Companies Lllp raised its position in shares of FTI Consulting by 394.0% during the fourth quarter. Jones Financial Companies Lllp now owns 247 shares of the business services provider’s stock worth $47,000 after purchasing an additional 197 shares during the period. 99.36% of the stock is currently owned by institutional investors.

FTI Consulting Stock Performance

Shares of FCN stock traded down $0.08 during mid-day trading on Tuesday, hitting $164.00. 290,783 shares of the stock traded hands, compared to its average volume of 210,032. FTI Consulting has a twelve month low of $158.88 and a twelve month high of $243.60. The company’s 50-day simple moving average is $176.37 and its 200-day simple moving average is $195.67. The firm has a market cap of $5.89 billion, a price-to-earnings ratio of 21.03 and a beta of 0.14.

FTI Consulting (NYSE:FCN) last released its earnings results on Thursday, February 20th. The business services provider reported $1.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.17). FTI Consulting had a return on equity of 13.15% and a net margin of 7.57%. The firm had revenue of $894.92 million for the quarter, compared to analyst estimates of $913.70 million. Analysts forecast that FTI Consulting will post 8.55 earnings per share for the current year.

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.