Black Creek Investment Management Lowers stake in FTI Consulting (FCN)

FTI Consulting (FCN) : Black Creek Investment Management reduced its stake in FTI Consulting by 4.19% during the most recent quarter end. The investment management company now holds a total of 2,877,722 shares of FTI Consulting which is valued at $124,519,031 after selling 125,758 shares in FTI Consulting , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.FTI Consulting makes up approximately 10.77% of Black Creek Investment Management’s portfolio.

Other Hedge Funds, Including , Proshare Advisors reduced its stake in FCN by selling 456 shares or 4.9% in the most recent quarter. The Hedge Fund company now holds 8,851 shares of FCN which is valued at $382,983.William Blair Investment Management boosted its stake in FCN in the latest quarter, The investment management firm added 22,179 additional shares and now holds a total of 371,211 shares of FTI Consulting which is valued at $16,021,467. FTI Consulting makes up approx 0.06% of William Blair Investment Management’s portfolio.Gsa Capital Partners Llp boosted its stake in FCN in the latest quarter, The investment management firm added 5,257 additional shares and now holds a total of 15,753 shares of FTI Consulting which is valued at $681,475. FTI Consulting makes up approx 0.04% of Gsa Capital Partners Llp’s portfolio.Chicago Equity Partners boosted its stake in FCN in the latest quarter, The investment management firm added 9,755 additional shares and now holds a total of 34,245 shares of FTI Consulting which is valued at $1,467,056. FTI Consulting makes up approx 0.04% of Chicago Equity Partners’s portfolio.Independent Portfolio Consultants boosted its stake in FCN in the latest quarter, The investment management firm added 380 additional shares and now holds a total of 5,150 shares of FTI Consulting which is valued at $218,463. FTI Consulting makes up approx 0.07% of Independent Portfolio Consultants’s portfolio.

FTI Consulting opened for trading at $44.79 and hit $45.23 on the upside on Monday, eventually ending the session at $44.85, with a gain of 0.38% or 0.17 points. The heightened volatility saw the trading volume jump to 1,63,153 shares. Company has a market cap of $1,892 M.

On the company’s financial health, FTI Consulting reported $0.66 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.60. The company had revenue of $460.10 million for the quarter, compared to analysts expectations of $460.80 million. The company’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS.

Many Wall Street Analysts have commented on FTI Consulting. Deutsche Bank Initiated FTI Consulting on Aug 18, 2016 to “Hold”, Price Target of the shares are set at $44.

FTI Consulting Inc. (FTI Consulting) is a global business advisory firm. The Company operates through five segments: Corporate Finance/Restructuring Forensic and Litigation Consulting Economic Consulting Technology and Strategic Communications. The Company assists clients addressing a range of business challenges such as restructuring (including bankruptcy) financing and credit issues and indebtedness interim business management forensic accounting and litigation matters international arbitrations merger and acquisitions (M&A) antitrust and competition matters securities litigation electronic discovery (e-discovery) management and retrieval of electronically stored information (ESI) reputation management and strategic communications. The Company also provides services to help its clients take advantage of economic regulatory financial and other business opportunities.

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