Pinebridge Investments L.P. Boosts Stock Position in FTI Consulting, Inc. (NYSE:FCN)

Pinebridge Investments L.P. grew its position in FTI Consulting, Inc. (NYSE:FCN) by 42.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,952 shares of the business services provider’s stock after purchasing an additional 3,577 shares during the period. Pinebridge Investments L.P.’s holdings in FTI Consulting were worth $2,284,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new stake in FTI Consulting in the third quarter valued at approximately $35,000. GeoWealth Management LLC lifted its stake in FTI Consulting by 46.0% during the 4th quarter. GeoWealth Management LLC now owns 181 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 57 shares during the period. Jones Financial Companies Lllp lifted its stake in FTI Consulting by 394.0% during the 4th quarter. Jones Financial Companies Lllp now owns 247 shares of the business services provider’s stock valued at $47,000 after acquiring an additional 197 shares during the period. UMB Bank n.a. boosted its holdings in shares of FTI Consulting by 59.6% in the 4th quarter. UMB Bank n.a. now owns 265 shares of the business services provider’s stock valued at $51,000 after acquiring an additional 99 shares during the last quarter. Finally, Versant Capital Management Inc increased its stake in shares of FTI Consulting by 51.4% in the fourth quarter. Versant Capital Management Inc now owns 471 shares of the business services provider’s stock worth $90,000 after acquiring an additional 160 shares during the period. 99.36% of the stock is currently owned by hedge funds and other institutional investors.

FTI Consulting Stock Performance

Shares of NYSE FCN opened at $162.75 on Friday. The company has a market capitalization of $5.76 billion, a PE ratio of 20.87 and a beta of 0.21. The company’s fifty day moving average price is $163.96 and its 200 day moving average price is $187.28. FTI Consulting, Inc. has a 1 year low of $151.75 and a 1 year high of $243.60.

FTI Consulting (NYSE:FCN) last posted its earnings results on Thursday, April 24th. The business services provider reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.50. FTI Consulting had a net margin of 7.57% and a return on equity of 13.15%. The business had revenue of $898.28 million for the quarter, compared to analyst estimates of $906.93 million. On average, equities analysts expect that FTI Consulting, Inc. will post 8.55 EPS for the current year.

FTI Consulting announced that its board has approved a share buyback plan on Thursday, April 24th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the business services provider to repurchase up to 6.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

FCN has been the subject of a number of research reports. Truist Financial downgraded shares of FTI Consulting from a “buy” rating to a “hold” rating and decreased their target price for the company from $225.00 to $178.00 in a research report on Wednesday, April 2nd. The Goldman Sachs Group decreased their price objective on FTI Consulting from $194.00 to $173.00 and set a “neutral” rating for the company in a report on Friday, February 21st. William Blair reaffirmed an “outperform” rating on shares of FTI Consulting in a report on Friday. Finally, StockNews.com cut FTI Consulting from a “buy” rating to a “hold” rating in a research report on Thursday, April 3rd.

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.