FTI Consulting, Inc. (NYSE:FCN) President and CEO Steven Henry Gunby has recently sold a significant number of shares in the company, according to the latest filings. The transactions, which took place on May 8 and 9, 2024, involved the sale of common stock totaling over $7.4 million.
On May 8, Gunby sold 5,699 shares at prices ranging from $220.00 to $221.00, with a weighted average sales price reported at $220.34 per share. The total value of this transaction amounted to approximately $1,255,786.66. The following day, he sold an additional 28,440 shares, with prices ranging from $218.50 to $219.29, and a weighted average price of $218.61 per share. This sale amounted to approximately $6,212,199.40, bringing the two-day total to over $7.4 million.
The sales were part of a series of transactions that also included option exercises. Gunby exercised options to acquire 5,699 and 28,440 shares of common stock at an exercise price of $40.36 per share, totaling $1,377,850 for both option exercises. These options had vested in full on March 6, 2020.
Following these transactions, Gunby's direct ownership in the company's common stock has been adjusted to 287,184 shares. It is important to note that the company maintains a record of the transactions and has stated that copies will be provided upon request.
Investors and market watchers often pay close attention to insider sales such as these, as they can provide insights into executives' perspectives on their company's current valuation and future prospects.
InvestingPro Insights
As FTI Consulting, Inc. (NYSE:FCN) sees significant insider sales from its CEO Steven Henry Gunby, investors are keen to understand the financial health and future prospects of the company. Based on recent data from InvestingPro, FTI Consulting appears to maintain a robust financial position.
The company's market capitalization stands at a solid $7.78 billion, with a P/E ratio of 24.71, which adjusts to 25.07 on a last twelve months basis as of Q1 2024. This valuation comes in light of a notable revenue growth of 16.04% over the last twelve months, as of Q1 2024. The strong revenue performance is further evidenced by a quarterly revenue growth of 15.1% in Q1 2024, underlining the company's ability to expand its financial base steadily.
Two key InvestingPro Tips highlight the potential for FTI Consulting's continued growth and stability. Analysts have revised their earnings upwards for the upcoming period, indicating a positive outlook on the company's profitability. Additionally, the company is trading at a low P/E ratio relative to near-term earnings growth, suggesting that the stock may be undervalued given its growth potential.
For investors interested in a more in-depth analysis, there are additional InvestingPro Tips available. These tips include insights on the company's cash flow, debt level, and profitability. In fact, there are six more tips listed on InvestingPro that could provide investors with a deeper understanding of FTI Consulting's financial standing and future prospects. To access these insights, visit: https://www.investing.com/pro/FCN and use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.