Bank of America Corp DE increased its holdings in shares of FTI Consulting, Inc. (NYSE:FCN) by 5.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 65,346 shares of the business services provider’s stock after buying an additional 3,639 shares during the period. Bank of America Corp DE owned about 0.17% of FTI Consulting worth $3,952,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in FCN. FMR LLC increased its stake in FTI Consulting by 419.0% during the 2nd quarter. FMR LLC now owns 2,982,035 shares of the business services provider’s stock worth $180,353,000 after buying an additional 2,407,460 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of FTI Consulting in the 2nd quarter valued at approximately $33,146,000. BlackRock Inc. increased its position in shares of FTI Consulting by 7.9% in the 2nd quarter. BlackRock Inc. now owns 5,283,500 shares of the business services provider’s stock valued at $319,546,000 after purchasing an additional 385,929 shares during the last quarter. Millennium Management LLC increased its position in shares of FTI Consulting by 272.2% in the 1st quarter. Millennium Management LLC now owns 153,579 shares of the business services provider’s stock valued at $7,435,000 after purchasing an additional 112,316 shares during the last quarter. Finally, James Investment Research Inc. purchased a new stake in shares of FTI Consulting in the 2nd quarter valued at approximately $4,822,000. 94.68% of the stock is currently owned by hedge funds and other institutional investors.
In other FTI Consulting news, General Counsel Curtis P. Lu sold 14,260 shares of the stock in a transaction that occurred on Friday, October 26th. The shares were sold at an average price of $70.32, for a total value of $1,002,763.20. Following the sale, the general counsel now directly owns 21,573 shares of the company’s stock, valued at approximately $1,517,013.36. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Matthew Pachman sold 1,500 shares of the stock in a transaction that occurred on Friday, October 26th. The shares were sold at an average price of $73.14, for a total transaction of $109,710.00. Following the completion of the sale, the vice president now directly owns 1,686 shares in the company, valued at $123,314.04. The disclosure for this sale can be found here. Corporate insiders own 2.19% of the company’s stock.
FTI Consulting (NYSE:FCN) last announced its quarterly earnings data on Thursday, October 25th. The business services provider reported $1.00 EPS for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.42. FTI Consulting had a net margin of 9.73% and a return on equity of 11.91%. The company had revenue of $513.01 million for the quarter, compared to the consensus estimate of $471.78 million. On average, research analysts forecast that FTI Consulting, Inc. will post 3.75 earnings per share for the current year.
A number of brokerages have commented on FCN. Zacks Investment Research raised shares of FTI Consulting from a “hold” rating to a “strong-buy” rating and set a $87.00 price objective on the stock in a research report on Tuesday, July 31st. Sidoti raised shares of FTI Consulting from a “neutral” rating to a “buy” rating in a research report on Tuesday, July 10th.
About FTI Consulting
FTI Consulting, Inc provides business advisory services to manage change, mitigate risk, and resolve disputes worldwide. The company's Corporate Finance & Restructuring segment provides turnaround and restructuring, business transformation, interim management, valuation and financial advisory, transaction, dispute advisory, and tax services, as well as mergers and acquisitions (M&A), and M&A integration services.
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