Alliancebernstein L.P. Raises Position in FTI Consulting, Inc. (NYSE:FCN)

Alliancebernstein L.P. increased its position in shares of FTI Consulting, Inc. (NYSE:FCN) by 9.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 740,858 shares of the business services provider’s stock after purchasing an additional 63,163 shares during the period. Alliancebernstein L.P. owned approximately 2.06% of FTI Consulting worth $141,600,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in FCN. Pacer Advisors Inc. raised its stake in shares of FTI Consulting by 9,995.1% during the 4th quarter. Pacer Advisors Inc. now owns 518,687 shares of the business services provider’s stock worth $99,137,000 after buying an additional 513,549 shares in the last quarter. Mawer Investment Management Ltd. grew its holdings in FTI Consulting by 3.8% during the fourth quarter. Mawer Investment Management Ltd. now owns 4,065,609 shares of the business services provider’s stock worth $777,060,000 after acquiring an additional 149,276 shares during the period. Raymond James Financial Inc. purchased a new position in FTI Consulting in the fourth quarter worth $27,726,000. Norges Bank purchased a new position in FTI Consulting in the fourth quarter worth $15,260,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in FTI Consulting by 1,215.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 48,945 shares of the business services provider’s stock valued at $9,291,000 after acquiring an additional 45,224 shares during the period. Institutional investors and hedge funds own 99.36% of the company’s stock.

Wall Street Analyst Weigh In

FCN has been the subject of a number of research analyst reports. The Goldman Sachs Group cut their price target on shares of FTI Consulting from $194.00 to $173.00 and set a “neutral” rating for the company in a report on Friday, February 21st. Truist Financial dropped their target price on shares of FTI Consulting from $275.00 to $225.00 and set a “buy” rating for the company in a report on Friday, February 21st. Finally, StockNews.com raised FTI Consulting from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th.

FTI Consulting Stock Down 0.1 %

Shares of FCN stock opened at $164.00 on Wednesday. FTI Consulting, Inc. has a fifty-two week low of $158.88 and a fifty-two week high of $243.60. The business has a fifty day simple moving average of $176.37 and a 200-day simple moving average of $195.67. The stock has a market cap of $5.89 billion, a P/E ratio of 21.03 and a beta of 0.14.

FTI Consulting (NYSE:FCN) last posted its earnings results on Thursday, February 20th. The business services provider reported $1.56 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($0.17). FTI Consulting had a net margin of 7.57% and a return on equity of 13.15%. The business had revenue of $894.92 million for the quarter, compared to analysts’ expectations of $913.70 million. On average, sell-side analysts anticipate that FTI Consulting, Inc. 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.