FTI Consulting, Inc. (FCN) Position Held by Municipal Employees Retirement System of Michigan
Municipal Employees Retirement System of Michigan maintained its stake in FTI Consulting, Inc. (NYSE:FCN) during the first quarter, Holdings Channel reports. The fund owned 19,400 shares of the business services provider’s stock at the end of the first quarter. Municipal Employees Retirement System of Michigan’s holdings in FTI Consulting were worth $799,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the company. Meadow Creek Investment Management LLC boosted its stake in FTI Consulting by 24.7% in the first quarter. Meadow Creek Investment Management LLC now owns 2,548 shares of the business services provider’s stock worth $105,000 after buying an additional 504 shares in the last quarter. Acrospire Investment Management LLC boosted its stake in FTI Consulting by 57.9% in the first quarter. Acrospire Investment Management LLC now owns 2,726 shares of the business services provider’s stock worth $112,000 after buying an additional 1,000 shares in the last quarter. TrimTabs Asset Management LLC bought a new stake in FTI Consulting during the first quarter worth approximately $121,000. Glen Harbor Capital Management LLC boosted its stake in FTI Consulting by 24.7% in the first quarter. Glen Harbor Capital Management LLC now owns 3,094 shares of the business services provider’s stock worth $128,000 after buying an additional 612 shares in the last quarter. Finally, Credit Agricole S A bought a new stake in FTI Consulting during the fourth quarter worth approximately $157,000. Hedge funds and other institutional investors own 97.28% of the company’s stock.
FTI Consulting, Inc. (NYSE:FCN) traded down 1.06% during mid-day trading on Friday, reaching $34.48. The company’s stock had a trading volume of 483,237 shares. FTI Consulting, Inc. has a 1-year low of $33.74 and a 1-year high of $47.12. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 20.71 and a beta of 0.23. The firm has a 50-day moving average of $34.71 and a 200 day moving average of $40.27.
FTI Consulting (NYSE:FCN) last posted its quarterly earnings results on Thursday, April 27th. The business services provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.60 by $0.26. The business had revenue of $446.30 million for the quarter, compared to analyst estimates of $461.08 million. FTI Consulting had a net margin of 3.88% and a return on equity of 6.06%. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.83 earnings per share. Equities analysts expect that FTI Consulting, Inc. will post $1.92 earnings per share for the current year.
FCN has been the subject of a number of recent research reports. Zacks Investment Research upgraded FTI Consulting from a “sell” rating to a “hold” rating in a research report on Friday, March 3rd. Deutsche Bank AG dropped their price objective on FTI Consulting from $47.00 to $38.00 and set a “hold” rating for the company in a research report on Friday, April 28th. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the stock. FTI Consulting presently has an average rating of “Hold” and a consensus target price of $45.00.
In other FTI Consulting news, CEO Steven Henry Gunby purchased 30,000 shares of the company’s stock in a transaction that occurred on Friday, April 28th. The shares were purchased at an average cost of $34.51 per share, with a total value of $1,035,300.00. Following the completion of the transaction, the chief executive officer now owns 166,043 shares of the company’s stock, valued at $5,730,143.93. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.03% of the stock is currently owned by insiders.
FTI Consulting Company Profile
FTI Consulting, Inc is a business advisory company. The Company operates through five segments: Corporate Finance & Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology and Strategic Communications. The Company provides advice and services, such as restructuring (including bankruptcy), capital formation and indebtedness, interim business management, performance improvements, forensic accounting and litigation matters, international arbitrations, mergers and acquisitions (M&A), antitrust and competition matters, securities litigation, electronic discovery (or e-discovery), management and retrieval of electronically stored information (ESI), reputation management and strategic communications.
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