Allianz Asset Management GmbH grew its position in shares of FTI Consulting, Inc. (NYSE:FCN) by 109.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 176,680 shares of the business services provider’s stock after purchasing an additional 92,151 shares during the quarter. Allianz Asset Management GmbH’s holdings in FTI Consulting were worth $7,591,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Amalgamated Bank acquired a new position in shares of FTI Consulting during the fourth quarter valued at $234,000. Martingale Asset Management L P boosted its holdings in shares of FTI Consulting by 15.6% during the fourth quarter. Martingale Asset Management L P now owns 30,401 shares of the business services provider’s stock valued at $1,307,000 after acquiring an additional 4,101 shares during the period. FDx Advisors Inc. acquired a new position in shares of FTI Consulting during the fourth quarter valued at $289,000. Uncommon Cents Investing LLC acquired a new position in shares of FTI Consulting during the fourth quarter valued at $232,000. Finally, UBS Asset Management Americas Inc. boosted its holdings in shares of FTI Consulting by 8.0% during the fourth quarter. UBS Asset Management Americas Inc. now owns 32,737 shares of the business services provider’s stock valued at $1,406,000 after acquiring an additional 2,411 shares during the period. 98.71% of the stock is owned by institutional investors.
In related news, CAO Catherine M. Freeman sold 6,088 shares of FTI Consulting stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $48.44, for a total transaction of $294,902.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.33% of the stock is owned by insiders.
FTI Consulting (NYSE:FCN) last issued its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.28. FTI Consulting had a net margin of 5.97% and a return on equity of 7.80%. The business had revenue of $467.71 million for the quarter, compared to analysts’ expectations of $450.52 million. During the same period in the previous year, the business earned $0.24 earnings per share. The company’s revenue was up 5.8% on a year-over-year basis. research analysts predict that FTI Consulting, Inc. will post 2.53 EPS for the current year.
FTI Consulting announced that its Board of Directors has authorized a share repurchase plan on Monday, December 4th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
Several brokerages have recently issued reports on FCN. ValuEngine raised shares of FTI Consulting from a “hold” rating to a “buy” rating in a report on Friday, February 23rd. Zacks Investment Research raised shares of FTI Consulting from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $45.50.
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FTI Consulting Company Profile
FTI Consulting, Inc is a business advisory company. The Company operates through five segments: Corporate Finance & Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology and Strategic Communications. The Company provides advice and services, such as restructuring (including bankruptcy), capital formation and indebtedness, interim business management, performance improvements, forensic accounting and litigation matters, international arbitrations, mergers and acquisitions (M&A), antitrust and competition matters, securities litigation, electronic discovery (or e-discovery), management and retrieval of electronically stored information (ESI), reputation management and strategic communications.
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