M&T Bank Corp Buys 2,403 Shares of FTI Consulting, Inc. (NYSE:FCN)

M&T Bank Corp boosted its stake in shares of FTI Consulting, Inc. (NYSE:FCN) by 21.8% during the fourth quarter, Holdings Channel reports. The firm owned 13,442 shares of the business services provider’s stock after purchasing an additional 2,403 shares during the quarter. M&T Bank Corp’s holdings in FTI Consulting were worth $2,569,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. CIBC Asset Management Inc lifted its position in FTI Consulting by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 1,083 shares of the business services provider’s stock valued at $207,000 after purchasing an additional 55 shares during the period. Exchange Traded Concepts LLC raised its position in FTI Consulting by 2.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 3,435 shares of the business services provider’s stock worth $657,000 after acquiring an additional 85 shares during the period. UMB Bank n.a. raised its position in FTI Consulting by 59.6% in the fourth quarter. UMB Bank n.a. now owns 265 shares of the business services provider’s stock worth $51,000 after acquiring an additional 99 shares during the period. Portside Wealth Group LLC raised its position in FTI Consulting by 6.9% in the third quarter. Portside Wealth Group LLC now owns 1,563 shares of the business services provider’s stock worth $356,000 after acquiring an additional 101 shares during the period. Finally, Colonial River Investments LLC raised its position in FTI Consulting by 6.3% in the fourth quarter. Colonial River Investments LLC now owns 1,831 shares of the business services provider’s stock worth $350,000 after acquiring an additional 108 shares during the period. Institutional investors own 99.36% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on FCN shares. StockNews.com downgraded shares of FTI Consulting from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Truist Financial decreased their price target on shares of FTI Consulting from $275.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Finally, The Goldman Sachs Group decreased their price target on shares of FTI Consulting from $194.00 to $173.00 and set a “neutral” rating on the stock in a research report on Friday, February 21st.

FTI Consulting Price Performance

Shares of FCN stock opened at $169.87 on Friday. The company has a market capitalization of $6.10 billion, a price-to-earnings ratio of 21.78 and a beta of 0.14. FTI Consulting, Inc. has a one year low of $161.24 and a one year high of $243.60. The company’s fifty day moving average price is $186.41 and its 200-day moving average price is $202.94.

FTI Consulting (NYSE:FCN) last announced 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). The firm had revenue of $894.92 million for the quarter, compared to the consensus estimate of $913.70 million. FTI Consulting had a net margin of 7.57% and a return on equity of 13.15%. Equities research analysts expect that FTI Consulting, Inc. will post 8.55 earnings per share for the current fiscal year.

FTI Consulting Profile

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.