Black Creek Investment Management Inc. Sells 52,427 Shares of FTI Consulting, Inc. (NYSE:FCN)

Black Creek Investment Management Inc. cut its stake in shares of FTI Consulting, Inc. (NYSE:FCN) by 17.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 246,009 shares of the business services provider’s stock after selling 52,427 shares during the quarter. FTI Consulting accounts for about 2.0% of Black Creek Investment Management Inc.’s holdings, making the stock its 14th biggest holding. Black Creek Investment Management Inc. owned approximately 0.69% of FTI Consulting worth $53,022,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of FCN. Signaturefd LLC lifted its position in FTI Consulting by 65.9% in the 2nd quarter. Signaturefd LLC now owns 204 shares of the business services provider’s stock worth $44,000 after buying an additional 81 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in FTI Consulting by 494.6% in the 1st 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 during the period. Covestor Ltd boosted its position in FTI Consulting by 76.4% during the first quarter. Covestor Ltd now owns 217 shares of the business services provider’s stock valued at $46,000 after buying an additional 94 shares during the period. Versant Capital Management Inc increased its holdings in shares of FTI Consulting by 593.8% in the second quarter. Versant Capital Management Inc now owns 222 shares of the business services provider’s stock worth $48,000 after buying an additional 190 shares during the period. Finally, Quarry LP purchased a new stake in FTI Consulting during the 4th quarter valued at about $56,000. Hedge funds and other institutional investors own 99.36% of the company’s stock.

Insider Activity

In related news, Director Mark S. Bartlett sold 2,000 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $227.12, for a total value of $454,240.00. Following the completion of the transaction, the director now directly owns 26,099 shares of the company’s stock, valued at $5,927,604.88. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.51% of the company’s stock.

Wall Street Analyst Weigh In

FCN has been the subject of several recent research reports. William Blair reiterated an “outperform” rating on shares of FTI Consulting in a research report on Tuesday, June 25th. StockNews.com raised shares of FTI Consulting from a “hold” rating to a “buy” rating in a research report on Thursday, July 25th.

FTI Consulting Trading Up 0.8 %

NYSE FCN opened at $221.95 on Monday. 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, Inc. has a fifty-two week low of $175.03 and a fifty-two week high of $243.60. The stock has a market cap of $7.92 billion, a P/E ratio of 25.81 and a beta of 0.10. The stock has a 50 day simple moving average of $222.10 and a two-hundred day simple moving average of $215.69.

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

FTI Consulting Company Profile

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.