FTI Consulting (NYSE:FCN) Sees Unusually-High Trading Volume – Here’s What Happened

FTI Consulting, Inc. (NYSE:FCN) shares saw strong trading volume on Tuesday . 286,590 shares changed hands during mid-day trading, an increase of 66% from the previous session’s volume of 172,661 shares.The stock last traded at $192.56 and had previously closed at $190.53.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. StockNews.com raised FTI Consulting from a “hold” rating to a “buy” rating in a report on Saturday, November 2nd. Truist Financial raised their price objective on FTI Consulting from $255.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, September 25th.

FTI Consulting Price Performance

The firm has a market capitalization of $6.89 billion, a price-to-earnings ratio of 22.02 and a beta of 0.14. The stock has a 50 day moving average price of $196.43 and a two-hundred day moving average price of $211.65.

FTI Consulting (NYSE:FCN) last released its earnings results on Thursday, October 24th. The business services provider reported $1.85 EPS for the quarter, missing the consensus estimate of $2.06 by ($0.21). FTI Consulting had a return on equity of 14.79% and a net margin of 8.37%. The company had revenue of $926.00 million for the quarter, compared to analyst estimates of $946.16 million. During the same period in the previous year, the firm earned $2.34 earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, research analysts expect that FTI Consulting, Inc. will post 8.1 earnings per share for the current fiscal year.

Institutional Trading of FTI Consulting

Several institutional investors and hedge funds have recently made changes to their positions in the company. Pacer Advisors Inc. lifted its holdings in shares of FTI Consulting by 9,995.1% in the 4th quarter. Pacer Advisors Inc. now owns 518,687 shares of the business services provider’s stock valued at $99,137,000 after purchasing an additional 513,549 shares during the last quarter. KBC Group NV increased its position in FTI Consulting by 1,978.5% during the 4th quarter. KBC Group NV now owns 18,291 shares of the business services provider’s stock worth $3,496,000 after purchasing an additional 17,411 shares during the period. Blue Trust Inc. increased its position in FTI Consulting by 15.1% during the 4th quarter. Blue Trust Inc. now owns 1,817 shares of the business services provider’s stock worth $347,000 after purchasing an additional 239 shares during the period. Running Oak Capital LLC increased its position in FTI Consulting by 7.3% during the 4th quarter. Running Oak Capital LLC now owns 61,214 shares of the business services provider’s stock worth $11,700,000 after purchasing an additional 4,185 shares during the period. Finally, Exchange Traded Concepts LLC increased its position in FTI Consulting by 2.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 3,435 shares of the business services provider’s stock worth $657,000 after purchasing an additional 85 shares during the period. 99.36% of the stock is owned by hedge funds and other institutional investors.

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.