Cabot Wealth Management Inc. Grows Stake in FTI Consulting, Inc. (NYSE:FCN)

Cabot Wealth Management Inc. raised its stake in FTI Consulting, Inc. (NYSE:FCN) by 0.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,271 shares of the business services provider’s stock after purchasing an additional 94 shares during the quarter. Cabot Wealth Management Inc.’s holdings in FTI Consulting were worth $3,475,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. UMB Bank n.a. increased its position in shares of FTI Consulting by 76.6% during the third quarter. UMB Bank n.a. now owns 166 shares of the business services provider’s stock worth $38,000 after acquiring an additional 72 shares during the last quarter. Signaturefd LLC grew its stake in FTI Consulting by 65.9% in the second quarter. Signaturefd LLC now owns 204 shares of the business services provider’s stock worth $44,000 after purchasing an additional 81 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in FTI Consulting by 494.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 220 shares of the business services provider’s stock worth $46,000 after purchasing an additional 183 shares in the last quarter. Covestor Ltd grew its stake in FTI Consulting by 76.4% in the first quarter. Covestor Ltd now owns 217 shares of the business services provider’s stock worth $46,000 after purchasing an additional 94 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in FTI Consulting by 593.8% in the second quarter. Versant Capital Management Inc now owns 222 shares of the business services provider’s stock valued at $48,000 after acquiring an additional 190 shares during the period. 99.36% of the stock is owned by hedge funds and other institutional investors.

FTI Consulting Price Performance

Shares of NYSE FCN traded up $2.99 during trading on Tuesday, hitting $226.86. The company had a trading volume of 179,953 shares, compared to its average volume of 168,318. The company has a market cap of $8.10 billion, a P/E ratio of 26.38 and a beta of 0.10. FTI Consulting, Inc. has a 52 week low of $181.25 and a 52 week high of $243.60. The business’s 50-day moving average is $223.14 and its 200 day moving average is $218.46. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.20 and a current ratio of 2.20.

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

Insiders Place Their Bets

In other FTI Consulting news, Director Mark S. Bartlett sold 2,000 shares of FTI Consulting stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $227.12, for a total transaction of $454,240.00. Following the transaction, the director now directly owns 26,099 shares in the company, valued at approximately $5,927,604.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on FCN shares. StockNews.com upgraded FTI Consulting from a “hold” rating to a “buy” rating in a research note on Thursday, July 25th. Truist Financial boosted their price objective on FTI Consulting from $255.00 to $275.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Finally, William Blair reiterated an “outperform” rating on shares of FTI Consulting in a research report on Tuesday, June 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.