FTI Consulting, Inc. (NYSE:FCN) Sees Significant Drop in Short Interest

FTI Consulting, Inc. (NYSE:FCN) was the target of a significant decline in short interest in October. As of October 15th, there was short interest totalling 252,000 shares, a decline of 9.5% from the September 30th total of 278,300 shares. Based on an average daily volume of 148,400 shares, the days-to-cover ratio is currently 1.7 days.

Institutional Trading of FTI Consulting

Several hedge funds have recently modified their holdings of FCN. UMB Bank n.a. raised its position in shares of FTI Consulting by 76.6% in the 3rd quarter. UMB Bank n.a. now owns 166 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 72 shares during the last quarter. Signaturefd LLC increased its holdings in shares of FTI Consulting by 65.9% during the 2nd quarter. Signaturefd LLC now owns 204 shares of the business services provider’s stock valued at $44,000 after purchasing an additional 81 shares in the last quarter. Covestor Ltd increased its holdings in shares of FTI Consulting by 76.4% during the 1st quarter. Covestor Ltd now owns 217 shares of the business services provider’s stock valued at $46,000 after purchasing an additional 94 shares in the last quarter. Versant Capital Management Inc increased its holdings in FTI Consulting by 593.8% in the 2nd quarter. Versant Capital Management Inc now owns 222 shares of the business services provider’s stock worth $48,000 after acquiring an additional 190 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. increased its holdings in FTI Consulting by 284.1% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 242 shares of the business services provider’s stock worth $52,000 after acquiring an additional 179 shares in the last quarter. 99.36% of the stock is owned by hedge funds and other institutional investors.

FTI Consulting Stock Performance

FCN stock traded up $2.54 during mid-day trading on Friday, reaching $197.62. 53,635 shares of the stock traded hands, compared to its average volume of 175,002. FTI Consulting has a one year low of $185.93 and a one year high of $243.60. The stock has a market capitalization of $7.10 billion, a PE ratio of 22.70 and a beta of 0.10. The business has a 50-day moving average price of $221.67 and a two-hundred day moving average price of $219.02.

FTI Consulting (NYSE:FCN) last released its quarterly earnings data on Thursday, October 24th. The business services provider reported $1.85 earnings per share for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.21). FTI Consulting had a return on equity of 14.79% and a net margin of 8.37%. The business had revenue of $926.00 million during the quarter, compared to analysts’ expectations of $946.16 million. During the same period last year, the company earned $2.34 earnings per share. The firm’s revenue was up 3.7% compared to the same quarter last year. On average, equities analysts expect that FTI Consulting will post 8.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. StockNews.com downgraded shares of FTI Consulting from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Truist Financial upped their price target on shares of FTI Consulting from $255.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th.

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.