FTI Consulting, Inc. (NYSE:FCN) President and CEO Steven Henry Gunby has sold a significant portion of his company stock, totaling over $9.2 million. The transactions, which took place on May 10, 2024, involved the sale of common stock at prices ranging from $220.52 to $222.06.
The series of sales included 28,396 shares sold within the price range of $220.00 to $221.00, 12,820 shares within $221.01 to $222.00, and a smaller batch of 558 shares sold between $222.03 to $222.11. The total sum of these sales amounted to approximately $9,225,169.
In addition to the sales, Gunby also acquired 41,774 shares of common stock at a price of $40.36, amounting to a total of $1,685,998. This transaction is part of an equity award that vested fully on March 6, 2020.
Following the sales and acquisition, Gunby's ownership in FTI Consulting has adjusted to reflect the recent changes. The company, known for its management consulting services, maintains a record of these transactions, and copies are available upon request.
Investors and market watchers often look to insider buying and selling as a signal of a company's prospects and the confidence level of its executives. The sale of a large amount of stock by a top executive like Gunby can attract attention and speculation.
FTI Consulting has not made any official statement regarding the reasons behind Gunby's stock transactions. As the President and CEO, Gunby's movements in the market are closely watched, and this recent development may be of interest to current and potential investors.
InvestingPro Insights
Amidst the significant insider transactions by FTI Consulting, Inc. (NYSE:FCN) President and CEO Steven Henry Gunby, the company's financial health and market performance provide additional context for investors. With a market capitalization of $7.82 billion, FTI Consulting is trading at a P/E ratio of 24.94, which is considered low relative to its near-term earnings growth. This metric is a key highlight as it suggests that the company's earnings could be undervalued.
InvestingPro Tips indicate that FTI Consulting is expected to be profitable this year, with analysts having revised their earnings upwards for the upcoming period. This positive outlook is reinforced by the company's strong return over the last three months, which stands at 18.92%. Additionally, the firm's robust cash flows can sufficiently cover interest payments, a reassuring sign of financial stability.
For investors seeking a deeper analysis, there are 10 additional InvestingPro Tips available for FTI Consulting, offering insights into the company's long-term performance, debt management, and dividend policy. To explore these tips and more, visit https://www.investing.com/pro/FCN and consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
InvestingPro Data reveals that the company's revenue growth for the last twelve months as of Q1 2024 stands at 16.04%, indicating a solid uptrend in its business operations. Moreover, the company's gross profit margin during the same period is a healthy 32.8%, suggesting efficient control over costs and the potential for sustainable profitability.
As investors weigh the implications of insider stock sales by the company's CEO, these financial metrics and insights from InvestingPro could provide a broader perspective on FTI Consulting's value and future prospects.
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