Edgestream Partners L.P. Purchases New Position in FTI Consulting, Inc. (NYSE:FCN)

Edgestream Partners L.P. purchased a new stake in shares of FTI Consulting, Inc. (NYSE:FCN) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 26,760 shares of the business services provider’s stock, valued at approximately $5,115,000. Edgestream Partners L.P. owned about 0.07% of FTI Consulting as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FCN. Pacer Advisors Inc. boosted its position in shares of FTI Consulting by 9,995.1% during the fourth quarter. Pacer Advisors Inc. now owns 518,687 shares of the business services provider’s stock valued at $99,137,000 after buying an additional 513,549 shares during the last quarter. Raymond James Financial Inc. bought a new position in FTI Consulting during the 4th quarter valued at $27,726,000. Mawer Investment Management Ltd. boosted its holdings in FTI Consulting by 3.2% during the 3rd quarter. Mawer Investment Management Ltd. now owns 3,916,333 shares of the business services provider’s stock worth $891,201,000 after acquiring an additional 123,177 shares during the last quarter. CWA Asset Management Group LLC bought a new stake in shares of FTI Consulting in the 3rd quarter worth $23,351,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of FTI Consulting by 1,215.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 48,945 shares of the business services provider’s stock valued at $9,291,000 after purchasing an additional 45,224 shares during the last quarter. 99.36% of the stock is owned by institutional investors.

FTI Consulting Stock Performance

NYSE FCN opened at $169.87 on Friday. The company has a market capitalization of $6.10 billion, a PE ratio of 21.78 and a beta of 0.14. FTI Consulting, Inc. has a 52-week low of $161.24 and a 52-week high of $243.60. The company has a 50-day simple moving average of $186.87 and a 200 day simple moving average of $203.46.

FTI Consulting (NYSE:FCN) last issued its quarterly earnings results on Thursday, February 20th. The business services provider reported $1.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($0.17). FTI Consulting had a return on equity of 13.15% and a net margin of 7.57%. The company had revenue of $894.92 million for the quarter, compared to analysts’ expectations of $913.70 million. As a group, analysts forecast that FTI Consulting, Inc. will post 8.55 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on FCN shares. Truist Financial reduced their price objective on shares of FTI Consulting from $275.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, February 21st. The Goldman Sachs Group reduced their target price on FTI Consulting from $194.00 to $173.00 and set a “neutral” rating for the company in a report on Friday, February 21st. Finally, StockNews.com lowered FTI Consulting from a “buy” rating to a “hold” rating in a report on Friday, February 21st.

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.