Jennison Associates LLC increased its position in shares of FTI Consulting Inc. (NYSE:FCN) by 145.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,912 shares of the company’s stock after buying an additional 15,360 shares during the period. Jennison Associates LLC owned approximately 0.06% of FTI Consulting worth $1,155,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of FCN. Dimensional Fund Advisors LP increased its stake in shares of FTI Consulting by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,522,297 shares of the company’s stock worth $143,284,000 after buying an additional 19,723 shares during the period. Vanguard Group Inc. increased its stake in shares of FTI Consulting by 3.9% in the second quarter. Vanguard Group Inc. now owns 2,997,430 shares of the company’s stock worth $121,936,000 after buying an additional 113,777 shares during the period. BlackRock Fund Advisors increased its stake in shares of FTI Consulting by 2.8% in the second quarter. BlackRock Fund Advisors now owns 2,039,670 shares of the company’s stock worth $82,974,000 after buying an additional 55,968 shares during the period. State Street Corp increased its stake in shares of FTI Consulting by 1.0% in the first quarter. State Street Corp now owns 1,258,846 shares of the company’s stock worth $44,705,000 after buying an additional 11,972 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its stake in shares of FTI Consulting by 1.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,244,964 shares of the company’s stock worth $50,645,000 after buying an additional 20,642 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.
Shares of FTI Consulting Inc. (NYSE:FCN) opened at 43.56 on Friday. The stock has a 50 day moving average price of $42.61 and a 200 day moving average price of $42.63. The stock has a market capitalization of $1.80 billion, a P/E ratio of 20.56 and a beta of 0.29. FTI Consulting Inc. has a one year low of $29.91 and a one year high of $45.23.
FTI Consulting (NYSE:FCN) last posted its quarterly earnings data on Thursday, October 27th. The company reported $0.52 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.52. FTI Consulting had a return on equity of 7.86% and a net margin of 4.90%. The company had revenue of $438.04 million for the quarter, compared to analysts’ expectations of $452.70 million. During the same period in the previous year, the firm posted $0.53 EPS. FTI Consulting’s revenue was down 3.8% compared to the same quarter last year. Equities analysts forecast that FTI Consulting Inc. will post $2.28 earnings per share for the current year.
FCN has been the topic of a number of recent research reports. Avondale Partners downgraded FTI Consulting from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $50.00 to $45.00 in a research report on Monday, October 31st. Deutsche Bank AG initiated coverage on FTI Consulting in a report on Wednesday, August 17th. They issued a “hold” rating and a $44.00 price target on the stock. Finally, Zacks Investment Research downgraded FTI Consulting from a “hold” rating to a “sell” rating in a report on Wednesday, September 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $45.33.
In related news, insider Holly Paul sold 598 shares of FTI Consulting stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $43.42, for a total value of $25,965.16. Following the sale, the insider now directly owns 5,449 shares in the company, valued at approximately $236,595.58. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.03% of the stock is owned by corporate insiders.
FTI Consulting Company Profile
FTI Consulting, Inc (FTI Consulting) is a business advisory firm. The Company operates through five segments: Corporate Finance & Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology and Strategic Communications. Its Corporate Finance & Restructuring segment focuses on strategic, operational, financial and capital needs of businesses around the world.