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

FTI Consulting, Inc. (NYSE:FCN) saw 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 days-to-cover ratio is presently 1.8 days.

FTI Consulting Stock Performance

Shares of NYSE:FCN traded down $0.83 during trading hours on Friday, reaching $194.96. The stock had a trading volume of 341,366 shares, compared to its average volume of 178,137. FTI Consulting has a 1 year low of $185.93 and a 1 year high of $243.60. The stock has a market capitalization of $7.01 billion, a price-to-earnings ratio of 22.41 and a beta of 0.12. The firm’s 50 day moving average is $216.57 and its 200-day moving average is $218.25.

FTI Consulting (NYSE:FCN) last posted its earnings results on Thursday, October 24th. The business services provider reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.06 by ($0.21). The firm had revenue of $926.00 million during the quarter, compared to analysts’ expectations of $946.16 million. FTI Consulting had a net margin of 8.37% and a return on equity of 14.79%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.34 earnings per share. Analysts forecast that FTI Consulting will post 8.1 EPS for the current year.

Institutional Trading of FTI Consulting

Several hedge funds and other institutional investors have recently bought and sold shares of FCN. Sei Investments Co. increased its holdings in shares of FTI Consulting by 4.3% during the second quarter. Sei Investments Co. now owns 110,336 shares of the business services provider’s stock valued at $23,782,000 after purchasing an additional 4,516 shares during the period. DB Fitzpatrick & Co Inc boosted its stake in shares of FTI Consulting by 135.1% during the 2nd quarter. DB Fitzpatrick & Co Inc now owns 5,931 shares of the business services provider’s stock valued at $1,278,000 after buying an additional 3,408 shares during the period. SG Americas Securities LLC boosted its position in FTI Consulting by 298.4% during the second quarter. SG Americas Securities LLC now owns 4,060 shares of the business services provider’s stock valued at $875,000 after purchasing an additional 3,041 shares during the last quarter. Bayesian Capital Management LP bought a new stake in shares of FTI Consulting in the 1st quarter valued at approximately $673,000. Finally, American Century Companies Inc. grew its position in FTI Consulting by 76.3% in the second quarter. American Century Companies Inc. now owns 224,744 shares of the business services provider’s stock worth $48,439,000 after acquiring an additional 97,244 shares in the last quarter. 99.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FCN. Truist Financial upped their price target 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 raised FTI Consulting from a “hold” rating to a “buy” rating in a research note on Saturday, November 2nd.

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.