FTI Consulting, Inc. (NYSE:FCN) Short Interest Down 9.5% in October

FTI Consulting, Inc. (NYSE:FCN) saw a large drop in short interest in the month of October. As of October 15th, there was short interest totalling 252,000 shares, a drop of 9.5% from the September 30th total of 278,300 shares. Based on an average daily trading volume, of 148,400 shares, the short-interest ratio is currently 1.7 days.

Institutional Trading of FTI Consulting

Several institutional investors have recently added to or reduced their stakes in the company. CWA Asset Management Group LLC acquired a new stake in FTI Consulting in the 3rd quarter worth about $23,351,000. Portside Wealth Group LLC raised its position in shares of 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 valued at $356,000 after buying an additional 101 shares in the last quarter. Marks Group Wealth Management Inc bought a new stake in shares of FTI Consulting in the third quarter valued at approximately $8,675,000. Asset Management One Co. Ltd. grew its position in FTI Consulting by 6.1% during the third quarter. Asset Management One Co. Ltd. now owns 5,493 shares of the business services provider’s stock worth $1,250,000 after buying an additional 314 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in FTI Consulting by 40.0% during the 3rd quarter. Van ECK Associates Corp now owns 22,250 shares of the business services provider’s stock worth $5,106,000 after acquiring an additional 6,358 shares during the period. 99.36% of the stock is currently owned by institutional investors.

FTI Consulting Price Performance

FCN stock traded up $3.02 during midday trading on Friday, reaching $198.10. 71,179 shares of the company were exchanged, compared to its average volume of 175,085. FTI Consulting has a one year low of $185.93 and a one year high of $243.60. The firm has a market capitalization of $7.12 billion, a price-to-earnings ratio of 22.70 and a beta of 0.10. The business has a 50-day moving average price of $221.67 and a two-hundred day moving average price of $219.02.

FTI Consulting (NYSE:FCN) last announced 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). The company had revenue of $926.00 million for the quarter, compared to the consensus estimate of $946.16 million. FTI Consulting had a return on equity of 14.79% and a net margin of 8.37%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.34 EPS. As a group, analysts anticipate that FTI Consulting will post 8.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on FCN shares. Truist Financial boosted their price objective on FTI Consulting from $255.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. StockNews.com cut shares of FTI Consulting from a “buy” rating to a “hold” rating in a research report on Friday, October 25th.

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.