UBS Asset Management Americas Inc. decreased its stake in shares of FTI Consulting Inc. (NYSE:FCN) by 5.2% during the second quarter, Holdings Channel reports. The fund owned 28,768 shares of the company’s stock after selling 1,563 shares during the period. UBS Asset Management Americas Inc. owned 0.07% of FTI Consulting worth $1,170,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in FCN. PNC Financial Services Group Inc. boosted its stake in shares of FTI Consulting by 176.3% in the second quarter. PNC Financial Services Group Inc. now owns 2,456 shares of the company’s stock valued at $101,000 after buying an additional 1,567 shares during the last quarter. LS Investment Advisors LLC boosted its stake in shares of FTI Consulting by 72.2% in the second quarter. LS Investment Advisors LLC now owns 2,524 shares of the company’s stock valued at $103,000 after buying an additional 1,058 shares during the last quarter. Credit Agricole S A acquired a new stake in shares of FTI Consulting during the first quarter valued at approximately $123,000. Independent Portfolio Consultants Inc. boosted its stake in shares of FTI Consulting by 8.0% in the second quarter. Independent Portfolio Consultants Inc. now owns 5,150 shares of the company’s stock valued at $210,000 after buying an additional 380 shares during the last quarter. Finally, Quantitative Investment Management LLC acquired a new stake in shares of FTI Consulting during the second quarter valued at approximately $219,000. Institutional investors and hedge funds own 93.54% of the company’s stock.
FTI Consulting Inc. (NYSE:FCN) opened at 42.77 on Friday. The firm has a market capitalization of $1.75 billion, a PE ratio of 23.03 and a beta of 0.29. The company has a 50 day moving average of $43.67 and a 200 day moving average of $41.41. FTI Consulting Inc. has a 1-year low of $29.91 and a 1-year high of $45.23.
Several brokerages have commented on FCN. Zacks Investment Research upgraded shares of FTI Consulting from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research note on Tuesday, July 19th. Deutsche Bank AG began coverage on shares of FTI Consulting in a research note on Wednesday, August 17th. They issued a “hold” rating and a $44.00 target price for the company.
In other FTI Consulting news, insider Holly Paul sold 598 shares of the stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $43.42, for a total value of $25,965.16. Following the transaction, the insider now directly owns 5,449 shares in the company, valued at $236,595.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.03% of the stock is currently owned by company insiders.
About FTI Consulting
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.
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