Axa grew its holdings in shares of FTI Consulting, Inc. (NYSE:FCN) by 35.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 199,300 shares of the business services provider’s stock after acquiring an additional 52,200 shares during the quarter. Axa’s holdings in FTI Consulting were worth $8,562,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the business. Alliancebernstein L.P. raised its holdings in shares of FTI Consulting by 58.2% during the fourth quarter. Alliancebernstein L.P. now owns 95,516 shares of the business services provider’s stock worth $4,103,000 after purchasing an additional 35,140 shares during the period. Lazard Asset Management LLC raised its holdings in shares of FTI Consulting by 3.7% during the fourth quarter. Lazard Asset Management LLC now owns 347,919 shares of the business services provider’s stock worth $14,946,000 after purchasing an additional 12,355 shares during the period. Allianz Asset Management GmbH raised its holdings in shares of FTI Consulting by 109.0% during the fourth quarter. Allianz Asset Management GmbH now owns 176,680 shares of the business services provider’s stock worth $7,591,000 after purchasing an additional 92,151 shares during the period. Amalgamated Bank acquired a new stake in shares of FTI Consulting during the fourth quarter worth $234,000. Finally, Martingale Asset Management L P raised its holdings in shares of FTI Consulting by 15.6% during the fourth quarter. Martingale Asset Management L P now owns 30,401 shares of the business services provider’s stock worth $1,307,000 after purchasing an additional 4,101 shares during the period. 98.71% of the stock is currently owned by institutional investors.
Shares of FTI Consulting, Inc. (NYSE FCN) opened at $48.93 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.94 and a quick ratio of 1.94. FTI Consulting, Inc. has a twelve month low of $31.65 and a twelve month high of $50.81. The firm has a market cap of $1,860.00, a PE ratio of 29.65 and a beta of 0.25.
FTI Consulting announced that its board has authorized a share buyback program on Monday, December 4th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the business services provider to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
In related news, CAO Catherine M. Freeman sold 6,088 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $48.44, for a total value of $294,902.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.33% of the stock is owned by company insiders.
A number of research firms recently weighed in on FCN. ValuEngine raised shares of FTI Consulting from a “hold” rating to a “buy” rating in a report on Friday, February 23rd. Zacks Investment Research raised shares of FTI Consulting from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. FTI Consulting presently has a consensus rating of “Hold” and an average price target of $45.50.
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FTI Consulting Company Profile
FTI Consulting, Inc is a business advisory company. The Company operates through five segments: Corporate Finance & Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology and Strategic Communications. The Company provides advice and services, such as restructuring (including bankruptcy), capital formation and indebtedness, interim business management, performance improvements, forensic accounting and litigation matters, international arbitrations, mergers and acquisitions (M&A), antitrust and competition matters, securities litigation, electronic discovery (or e-discovery), management and retrieval of electronically stored information (ESI), reputation management and strategic communications.
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