FTI Consulting, Inc. (NYSE:FCN) Sees Large Drop in Short Interest

FTI Consulting, Inc. (NYSE:FCN) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 752,100 shares, a decline of 43.0% from the August 15th total of 1,320,000 shares. Approximately 2.3% of the company’s shares are sold short. Based on an average daily volume of 276,100 shares, the short-interest ratio is presently 2.7 days.

Insider Activity at FTI Consulting

In related news, CEO Steven Henry Gunby sold 34,159 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $182.92, for a total transaction of $6,248,364.28. Following the transaction, the chief executive officer now owns 375,823 shares in the company, valued at approximately $68,745,543.16. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other FTI Consulting news, Director Mark S. Bartlett sold 4,928 shares of FTI Consulting stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $189.75, for a total transaction of $935,088.00. Following the sale, the director now directly owns 26,954 shares of the company’s stock, valued at approximately $5,114,521.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Steven Henry Gunby sold 34,159 shares of FTI Consulting stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $182.92, for a total value of $6,248,364.28. Following the sale, the chief executive officer now directly owns 375,823 shares in the company, valued at $68,745,543.16. The disclosure for this sale can be found here. Insiders have sold a total of 90,897 shares of company stock worth $16,658,744 in the last 90 days. Company insiders own 3.34% of the company’s stock.

Hedge Funds Weigh In On FTI Consulting

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FCN. M&T Bank Corp raised its stake in FTI Consulting by 0.5% during the 1st quarter. M&T Bank Corp now owns 12,748 shares of the business services provider’s stock valued at $2,516,000 after buying an additional 60 shares during the last quarter. Advisor Resource Council raised its stake in FTI Consulting by 221.1% during the 1st quarter. Advisor Resource Council now owns 5,677 shares of the business services provider’s stock valued at $1,151,000 after buying an additional 3,909 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in FTI Consulting by 0.3% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 93,040 shares of the business services provider’s stock valued at $18,361,000 after buying an additional 320 shares during the last quarter. Townsquare Capital LLC raised its stake in FTI Consulting by 31.2% during the 4th quarter. Townsquare Capital LLC now owns 8,108 shares of the business services provider’s stock valued at $1,288,000 after buying an additional 1,927 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in FTI Consulting by 2.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,232 shares of the business services provider’s stock valued at $2,809,000 after buying an additional 385 shares during the last quarter.

FTI Consulting Stock Performance

FCN stock opened at $184.68 on Friday. The stock has a market capitalization of $6.28 billion, a PE ratio of 28.11 and a beta of 0.21. FTI Consulting has a 12-month low of $140.09 and a 12-month high of $205.63. The company has a current ratio of 2.30, a quick ratio of 2.30 and a debt-to-equity ratio of 0.19. The stock’s 50 day simple moving average is $186.82 and its 200 day simple moving average is $188.86.

FTI Consulting (NYSE:FCN) last released its quarterly earnings data on Thursday, July 27th. The business services provider reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.19. The business had revenue of $864.59 million for the quarter, compared to analysts’ expectations of $821.85 million. FTI Consulting had a return on equity of 14.12% and a net margin of 7.29%. As a group, research analysts forecast that FTI Consulting will post 6.74 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. StockNews.com assumed coverage on FTI Consulting in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. William Blair reissued an “outperform” rating on shares of FTI Consulting in a research report on Wednesday.

FTI Consulting Company Profile

FTI Consulting, Inc provides business advisory services to manage change, mitigate risk, and resolve disputes worldwide. The company operates through five segments: Corporate Finance & Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology, and Strategic Communications.