Algert Global LLC Reduces Holdings in FTI Consulting, Inc. (NYSE:FCN)

Algert Global LLC trimmed its stake in FTI Consulting, Inc. (NYSE:FCN) by 29.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,439 shares of the business services provider’s stock after selling 14,184 shares during the period. Algert Global LLC owned approximately 0.09% of FTI Consulting worth $7,207,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. SkyView Investment Advisors LLC grew its position in shares of FTI Consulting by 1.1% in the 2nd quarter. SkyView Investment Advisors LLC now owns 8,184 shares of the business services provider’s stock valued at $1,764,000 after buying an additional 86 shares during the last quarter. Susquehanna Fundamental Investments LLC grew its position in FTI Consulting by 496.2% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 16,544 shares of the business services provider’s stock worth $3,566,000 after purchasing an additional 13,769 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its position in FTI Consulting by 284.1% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 242 shares of the business services provider’s stock worth $52,000 after purchasing an additional 179 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in FTI Consulting during the 2nd quarter worth $719,000. Finally, Cubist Systematic Strategies LLC grew its position in FTI Consulting by 53.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 30,434 shares of the business services provider’s stock worth $6,559,000 after purchasing an additional 10,651 shares during the last quarter. 99.36% of the stock is owned by hedge funds and other institutional investors.

FTI Consulting Stock Down 0.9 %

FCN stock opened at $225.30 on Friday. FTI Consulting, Inc. has a one year low of $177.00 and a one year high of $243.60. The stock has a market capitalization of $8.04 billion, a PE ratio of 26.20 and a beta of 0.10. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.20 and a current ratio of 2.20. The company has a fifty day moving average of $223.01 and a 200-day moving average of $217.04.

FTI Consulting (NYSE:FCN) last announced its quarterly earnings data on Thursday, July 25th. The business services provider reported $2.34 EPS for the quarter, beating the consensus estimate of $2.02 by $0.32. FTI Consulting had a net margin of 8.90% and a return on equity of 16.34%. The firm had revenue of $949.16 million during the quarter, compared to analysts’ expectations of $938.67 million. During the same quarter last year, the business earned $1.75 earnings per share. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, analysts expect that FTI Consulting, Inc. will post 8.48 EPS for the current year.

Insider Activity at FTI Consulting

In related news, Director Mark S. Bartlett sold 2,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $227.12, for a total value of $454,240.00. Following the completion of the sale, the director now owns 26,099 shares in the company, valued at $5,927,604.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.51% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Truist Financial raised their price objective on shares of FTI Consulting from $255.00 to $275.00 and gave the stock a “buy” rating in a research report on Wednesday. William Blair reissued an “outperform” rating on shares of FTI Consulting in a research report on Tuesday, June 25th. Finally, StockNews.com raised shares of FTI Consulting from a “hold” rating to a “buy” rating in a research report on Thursday, July 25th.

About FTI Consulting

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.