FTI Consulting, Inc. (NYSE:FCN) Sees Significant Decline in Short Interest

FTI Consulting, Inc. (NYSE:FCN) was the recipient of a large drop in short interest in the month of October. As of October 15th, there was short interest totalling 252,000 shares, a drop of 9.5% from the September 30th total of 278,300 shares. Based on an average daily trading volume, of 148,400 shares, the days-to-cover ratio is presently 1.7 days.

Institutional Trading of FTI Consulting

Institutional investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in FTI Consulting by 8.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 8,882 shares of the business services provider’s stock worth $1,868,000 after purchasing an additional 701 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in FTI Consulting by 7.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,995 shares of the business services provider’s stock worth $840,000 after acquiring an additional 279 shares during the period. Norden Group LLC purchased a new position in FTI Consulting in the first quarter worth $2,323,000. Edge Financial Advisors LLC purchased a new stake in shares of FTI Consulting during the 1st quarter valued at $338,000. Finally, Van ECK Associates Corp boosted its holdings in shares of FTI Consulting by 36.5% in the 1st quarter. Van ECK Associates Corp now owns 12,106 shares of the business services provider’s stock worth $2,546,000 after buying an additional 3,238 shares during the last quarter. Institutional investors own 99.36% of the company’s stock.

FTI Consulting Stock Up 1.5 %

FCN traded up $3.02 during midday trading on Friday, hitting $198.10. The company had a trading volume of 71,179 shares, compared to its average volume of 175,085. The company has a market capitalization of $7.12 billion, a price-to-earnings ratio of 22.70 and a beta of 0.10. The stock’s 50 day moving average price is $221.67 and its 200 day moving average price is $219.02. FTI Consulting has a 52 week low of $185.93 and a 52 week high of $243.60.

FTI Consulting (NYSE:FCN) last announced its quarterly earnings results on Thursday, October 24th. The business services provider reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.06 by ($0.21). FTI Consulting had a net margin of 8.37% and a return on equity of 14.79%. The business had revenue of $926.00 million during the quarter, compared to the consensus estimate of $946.16 million. During the same period in the previous year, the business posted $2.34 EPS. FTI Consulting’s revenue was up 3.7% compared to the same quarter last year. Research analysts predict that FTI Consulting will post 8.1 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. StockNews.com cut shares of FTI Consulting from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Truist Financial upped their target price on FTI Consulting from $255.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, September 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.