Essex Investment Management Co. LLC Reduces Stake in FTI Consulting, Inc. (NYSE:FCN)

Essex Investment Management Co. LLC reduced its position in FTI Consulting, Inc. (NYSE:FCN) by 14.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,320 shares of the business services provider’s stock after selling 3,403 shares during the period. Essex Investment Management Co. LLC’s holdings in FTI Consulting were worth $2,154,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Huntington National Bank acquired a new position in FTI Consulting in the second quarter worth about $25,000. Meeder Asset Management Inc. bought a new stake in shares of FTI Consulting during the second quarter valued at approximately $47,000. Carroll Financial Associates Inc. bought a new stake in shares of FTI Consulting during the second quarter valued at approximately $51,000. Point72 Asset Management L.P. bought a new stake in shares of FTI Consulting during the second quarter valued at approximately $59,000. Finally, NEXT Financial Group Inc bought a new stake in shares of FTI Consulting during the second quarter valued at approximately $96,000. 96.84% of the stock is owned by hedge funds and other institutional investors.

Shares of FCN stock opened at $112.75 on Thursday. FTI Consulting, Inc. has a 52-week low of $59.06 and a 52-week high of $113.02. The stock has a market cap of $4.10 billion, a PE ratio of 28.19 and a beta of 0.24. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.20 and a current ratio of 2.20. The firm’s 50 day moving average price is $108.65 and its two-hundred day moving average price is $94.41.

FTI Consulting (NYSE:FCN) last announced its quarterly earnings data on Thursday, July 25th. The business services provider reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.78. FTI Consulting had a net margin of 8.98% and a return on equity of 14.42%. The firm had revenue of $606.12 million for the quarter, compared to analysts’ expectations of $528.56 million. During the same period last year, the firm earned $1.14 earnings per share. The business’s revenue for the quarter was up 18.4% on a year-over-year basis. As a group, sell-side analysts predict that FTI Consulting, Inc. will post 5.41 earnings per share for the current fiscal year.

FCN has been the topic of a number of recent research reports. Sidoti raised their price objective on shares of FTI Consulting from $121.00 to $134.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. ValuEngine cut shares of FTI Consulting from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, SunTrust Banks set a $120.00 price objective on shares of FTI Consulting and gave the company a “buy” rating in a research note on Friday, July 26th.

In other FTI Consulting news, Director Vernon James Ellis sold 4,000 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $106.88, for a total value of $427,520.00. Following the sale, the director now directly owns 28,093 shares in the company, valued at $3,002,579.84. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Ajay Sabherwal sold 7,458 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $107.08, for a total transaction of $798,602.64. Following the completion of the sale, the chief financial officer now owns 10,677 shares in the company, valued at $1,143,293.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,338 shares of company stock worth $3,179,095. Insiders own 2.19% of the company’s stock.

FTI Consulting Company Profile

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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Institutional Ownership by Quarter for FTI Consulting (NYSE:FCN)

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