Vanguard Group Inc. has decreased its ownership in FTI Consulting, Inc. (NYSE:FCN) by 5.8% during the third quarter of 2023. According to its latest 13F filing with the U.S. Securities and Exchange Commission, Vanguard sold 196,380 shares, bringing its total holdings to 3,174,490 shares. This reduction represents a stake of 10.28%, valued at approximately $513,156,000.
Several institutional investors have also made recent moves regarding FTI Consulting shares. Quent Capital LLC acquired a new stake valued at about $28,000 during the third quarter, while Winnow Wealth LLC purchased shares worth approximately $29,000. In the first quarter, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. secured a new position valued at around $33,000. Notably, Nomura Asset Management Co. Ltd. increased its stake by 68.8% in the second quarter, now holding 270 shares worth $44,000 after acquiring an additional 110 shares. EverSource Wealth Advisors LLC also enhanced its holdings in FTI Consulting by an impressive 258.5%, owning 294 shares valued at $47,000.
As it stands, institutional investors and hedge funds collectively own 99.36% of FTI Consulting stock.
Market Performance and Analyst Ratings
On Thursday, shares of FTI Consulting opened at $159.88. Over the past year, the stock has fluctuated, reaching a low of $149.31 and a high of $183.71. The company maintains a solid financial position, with a current ratio of 1.85, a quick ratio of 1.85, and a debt-to-equity ratio of 0.29. FTI Consulting boasts a market capitalization of $4.94 billion and a price-to-earnings ratio of 20.37. The stock’s 50-day moving average stands at $173.09, while the 200-day moving average is $167.26.
Recent analysis from brokerages indicates mixed views on FTI Consulting. Weiss Ratings reaffirmed a “hold (c)” rating on December 24, 2023. Conversely, Wall Street Zen upgraded the stock from a “hold” rating to a “buy” rating on December 6, 2023. Currently, one analyst has assigned a Buy rating, while two analysts have issued Hold ratings. According to MarketBeat, FTI Consulting has an average rating of “Hold” and a consensus target price of $165.00.
About FTI Consulting
FTI Consulting, Inc. is a global business advisory firm offering multidisciplinary solutions to tackle complex challenges and seize strategic opportunities. The company specializes in services such as corporate finance and restructuring, economic consulting, forensic and litigation consulting, strategic communications, and technology. These offerings empower clients to manage financial distress, navigate regulatory landscapes, resolve disputes, and leverage data-driven insights effectively.
In its corporate finance and restructuring practice, FTI Consulting provides essential restructuring, interim management, and transaction advisory services to companies facing operational or financial challenges.
For those interested in tracking hedge fund activities, HoldingsChannel.com offers the latest 13F filings and insider trades for FTI Consulting, Inc. (NYSE:FCN).
