Short Interest in FTI Consulting, Inc. (NYSE:FCN) Rises By 16.1%

FTI Consulting, Inc. (NYSE:FCN) was the recipient of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 292,500 shares, a growth of 16.1% from the October 15th total of 252,000 shares. Based on an average daily trading volume, of 165,300 shares, the short-interest ratio is presently 1.8 days.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Truist Financial boosted their price objective on shares of FTI Consulting from $255.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. StockNews.com upgraded FTI Consulting from a “hold” rating to a “buy” rating in a research note on Saturday, November 2nd.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Mawer Investment Management Ltd. lifted its holdings in shares of FTI Consulting by 3.2% in the 3rd quarter. Mawer Investment Management Ltd. now owns 3,916,333 shares of the business services provider’s stock valued at $891,201,000 after acquiring an additional 123,177 shares during the last quarter. CWA Asset Management Group LLC bought a new stake in shares of FTI Consulting in the third quarter valued at about $23,351,000. American Century Companies Inc. lifted its position in shares of FTI Consulting by 76.3% in the 2nd quarter. American Century Companies Inc. now owns 224,744 shares of the business services provider’s stock worth $48,439,000 after purchasing an additional 97,244 shares during the period. Greenvale Capital LLP lifted its holdings in FTI Consulting by 30.9% during the second quarter. Greenvale Capital LLP now owns 360,000 shares of the business services provider’s stock worth $77,591,000 after buying an additional 85,000 shares during the period. Finally, Mountain Pacific Investment Advisers LLC boosted its position in FTI Consulting by 563.7% during the third quarter. Mountain Pacific Investment Advisers LLC now owns 66,373 shares of the business services provider’s stock valued at $15,104,000 after purchasing an additional 56,373 shares in the last quarter. 99.36% of the stock is currently owned by institutional investors.

FTI Consulting Stock Performance

FTI Consulting stock traded down $0.83 during midday trading on Friday, hitting $194.96. 341,366 shares of the company’s stock were exchanged, compared to its average volume of 178,137. FTI Consulting has a 52-week low of $185.93 and a 52-week high of $243.60. The company has a market cap of $7.01 billion, a P/E ratio of 22.41 and a beta of 0.12. The stock has a 50-day moving average price of $216.57 and a two-hundred day moving average price of $218.25.

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

FTI Consulting Company 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.