Raymond James Financial Inc. Makes New $27.73 Million Investment in FTI Consulting, Inc. (NYSE:FCN)

Raymond James Financial Inc. acquired a new stake in FTI Consulting, Inc. (NYSE:FCN) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 145,065 shares of the business services provider’s stock, valued at approximately $27,726,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Atria Investments Inc grew its holdings in FTI Consulting by 7.4% in the 3rd quarter. Atria Investments Inc now owns 11,108 shares of the business services provider’s stock valued at $2,528,000 after buying an additional 767 shares during the period. Venturi Wealth Management LLC boosted its position in shares of FTI Consulting by 82.1% in the third quarter. Venturi Wealth Management LLC now owns 335 shares of the business services provider’s stock worth $76,000 after acquiring an additional 151 shares during the last quarter. Entropy Technologies LP grew its holdings in FTI Consulting by 32.4% in the third quarter. Entropy Technologies LP now owns 2,450 shares of the business services provider’s stock valued at $558,000 after purchasing an additional 600 shares during the period. OneDigital Investment Advisors LLC increased its position in FTI Consulting by 1.8% during the third quarter. OneDigital Investment Advisors LLC now owns 6,724 shares of the business services provider’s stock worth $1,530,000 after purchasing an additional 120 shares during the last quarter. Finally, Quest Partners LLC raised its stake in FTI Consulting by 54.8% during the third quarter. Quest Partners LLC now owns 1,885 shares of the business services provider’s stock worth $429,000 after purchasing an additional 667 shares during the period. 99.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

FTI Consulting Trading Up 0.8 %

Shares of FCN stock opened at $162.90 on Friday. The company’s fifty day simple moving average is $184.21 and its 200-day simple moving average is $201.40. FTI Consulting, Inc. has a 52 week low of $158.92 and a 52 week high of $243.60. The company has a market cap of $5.85 billion, a PE ratio of 20.88 and a beta of 0.14.

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

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.