Point72 Asia Singapore Pte. Ltd. Grows Stock Position in FTI Consulting, Inc. (NYSE:FCN)

Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of FTI Consulting, Inc. (NYSE:FCN) by 284.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 242 shares of the business services provider’s stock after acquiring an additional 179 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in FTI Consulting were worth $52,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Nordea Investment Management AB raised its position in FTI Consulting by 458.7% in the first quarter. Nordea Investment Management AB now owns 17,287 shares of the business services provider’s stock valued at $3,652,000 after purchasing an additional 14,193 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in FTI Consulting in the first quarter worth approximately $584,000. Sei Investments Co. increased its holdings in FTI Consulting by 4.3% in the second quarter. Sei Investments Co. now owns 110,336 shares of the business services provider’s stock valued at $23,782,000 after buying an additional 4,516 shares during the last quarter. DB Fitzpatrick & Co Inc raised its stake in FTI Consulting by 135.1% in the second quarter. DB Fitzpatrick & Co Inc now owns 5,931 shares of the business services provider’s stock valued at $1,278,000 after buying an additional 3,408 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in FTI Consulting by 298.4% during the 2nd quarter. SG Americas Securities LLC now owns 4,060 shares of the business services provider’s stock worth $875,000 after buying an additional 3,041 shares during the last quarter. Institutional investors and hedge funds own 99.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on FCN shares. William Blair reissued an “outperform” rating on shares of FTI Consulting in a research report on Tuesday, June 25th. StockNews.com upgraded shares of FTI Consulting from a “hold” rating to a “buy” rating in a research report on Thursday, July 25th. Finally, Truist Financial lifted their target price on shares of FTI Consulting from $255.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, September 25th.

Insider Activity at FTI Consulting

In related news, Director Mark S. Bartlett sold 2,000 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $227.12, for a total value of $454,240.00. Following the transaction, the director now directly owns 26,099 shares of the company’s stock, valued at approximately $5,927,604.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.51% of the company’s stock.

FTI Consulting Stock Performance

NYSE:FCN opened at $227.56 on Tuesday. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average price of $222.95 and a two-hundred day moving average price of $217.30. FTI Consulting, Inc. has a twelve month low of $177.00 and a twelve month high of $243.60. The company has a market capitalization of $8.12 billion, a P/E ratio of 26.46 and a beta of 0.10.

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

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.