Schwab Charles Investment Management Inc. lifted its stake in FTI Consulting, Inc. (NYSE:FCN) by 4.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 343,112 shares of the business services provider’s stock after purchasing an additional 13,999 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in FTI Consulting were worth $14,741,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Public Employees Retirement System of Ohio raised its stake in shares of FTI Consulting by 12.8% in the second quarter. Public Employees Retirement System of Ohio now owns 4,698 shares of the business services provider’s stock worth $164,000 after buying an additional 533 shares during the period. Pinebridge Investments L.P. bought a new position in shares of FTI Consulting in the third quarter worth about $174,000. Magnetar Financial LLC bought a new position in shares of FTI Consulting in the third quarter worth about $201,000. LMR Partners LLP bought a new position in shares of FTI Consulting in the third quarter worth about $227,000. Finally, Stevens Capital Management LP bought a new position in shares of FTI Consulting in the third quarter worth about $256,000. 93.45% of the stock is currently owned by hedge funds and other institutional investors.
Shares of FTI Consulting, Inc. (NYSE:FCN) opened at $48.26 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.94 and a current ratio of 1.94. FTI Consulting, Inc. has a 1 year low of $31.65 and a 1 year high of $49.41. The stock has a market capitalization of $1,806.73, a PE ratio of 20.54 and a beta of 0.36.
FTI Consulting announced that its board has initiated a stock repurchase program on Monday, December 4th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the business services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
Several analysts recently issued reports on the company. Zacks Investment Research upgraded FTI Consulting from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research report on Friday. ValuEngine upgraded FTI Consulting from a “hold” rating to a “buy” rating in a research report on Friday. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. FTI Consulting currently has a consensus rating of “Hold” and a consensus price target of $45.50.
About FTI Consulting
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.
Want to see what other hedge funds are holding FCN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FTI Consulting, Inc. (NYSE:FCN).
Receive News & Ratings for FTI Consulting Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FTI Consulting and related companies with MarketBeat.com's FREE daily email newsletter.