Vanguard Group Inc. has reduced its stake in FTI Consulting, Inc. (NYSE: FCN) by 5.8% in the third quarter of 2023, according to the company’s latest 13F filing with the U.S. Securities and Exchange Commission (SEC). The institutional investor now holds 3,174,490 shares of FTI Consulting, having sold 196,380 shares during this period. As of the filing, Vanguard owned approximately 10.28% of the company, valued at $513,156,000.
Other institutional investors have also made moves concerning FTI Consulting shares. Quent Capital LLC acquired a new stake in the company estimated at around $28,000, while Winnow Wealth LLC invested approximately $29,000 in the same period. Additionally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position valued at about $33,000 in the first quarter of 2023.
Nomura Asset Management Co. Ltd. increased its stake by 68.8% during the second quarter, now owning 270 shares worth around $44,000. Similarly, EverSource Wealth Advisors LLC raised its holdings by an impressive 258.5%, acquiring additional shares to reach a total of 294 shares valued at $47,000. Currently, institutional investors and hedge funds hold approximately 99.36% of FTI Consulting’s stock.
FTI Consulting Stock Performance
Shares of FTI Consulting opened at $159.88 on the most recent trading day, reflecting a 2.0% increase. The stock has experienced fluctuations over the past year, with a low of $149.31 and a high of $183.71. The company’s financial health is underscored by a current ratio of 1.85 and a quick ratio of 1.85, alongside a debt-to-equity ratio of 0.29. With a market capitalization of $4.94 billion and a price-to-earnings ratio of 20.37, FTI Consulting remains resilient in the competitive landscape.
Analyst Ratings and Market Outlook
Recent analyst evaluations have varied, with several brokerages weighing in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on December 24, 2023. In contrast, Wall Street Zen upgraded FTI Consulting from a “hold” rating to a “buy” rating on December 6, 2023. Currently, one analyst has assigned a Buy rating, while two others have issued Hold ratings. According to MarketBeat, FTI Consulting holds an average rating of “Hold” and a consensus target price of $165.00.
FTI Consulting, Inc. operates as a global business advisory firm, offering multidisciplinary solutions to address complex challenges and strategic opportunities. Its primary services include corporate finance and restructuring, economic consulting, forensic and litigation consulting, strategic communications, and technology. These offerings empower clients to manage financial distress, navigate regulatory environments, resolve disputes, and harness data-driven insights effectively.
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