Billionaire David Harding is Buying These 5 Finance Stocks

4. FTI Consulting, Inc. (NYSE:FCN)

Winton Capital Management’s Stake Value: $5,302,000

Percentage of Winton Capital Management’s 13F Portfolio: 0.32%

Number of Hedge Fund Holders: 20

FTI Consulting, Inc. (NYSE:FCN) is a business advisory company based in Washington, providing corporate finance and restructuring services, as well as financial consultancy to businesses worldwide. David Harding held 34,560 shares of FTI Consulting, Inc. (NYSE:FCN) in the December quarter, worth $5.30 million, representing 0.32% of the total 13F portfolio. Harding’s hedge fund boosted its stake in the company by 39% in Q4 2021. 

In 2021, FTI Consulting, Inc. (NYSE:FCN)’s full-year revenue stood at $2.7 billion, compared to $2.4 billion in the prior year. The net income in 2021 increased to $235 million from $210.7 million in 2020. 

Among the hedge funds tracked by Insider Monkey in Q4 2021, 20 funds had long positions in FTI Consulting, Inc. (NYSE:FCN), compared to 22 funds in the prior quarter. Seth Rosen’s Nitorum Capital held the biggest stake in FTI Consulting, Inc. (NYSE:FCN), with 401,817 shares worth $61.6 million. 

Here is what Upslope Capital Management has to say about FTI Consulting, Inc. (NYSE:FCN) in their Q1 2021 investor letter:

“FTI is a boutique consulting firm with expertise in distress, bankruptcy, and other specialized dispute advisory services. “Long controversy and messiness” is one way to describe a position in FTI. Distress, litigation, regulatory changes, and corporate crises can all benefit FTI. The position is a virtual mirror image to Evercore. When we added Evercore one year ago, it was hard to envision the M&A market quickly turning around and thriving – just as it is hard to envision the restructuring market booming today. Yet, many of the pieces are in place to provide tailwinds for FTI in the coming years (bloated balance sheets, potentially rising rates, court re-openings, elevated potential for regulatory change, and a SPAC boom that could ultimately contribute to demand for FTI’s services).

FTI is a specialty consulting and financial advisory firm generally focused on restructuring, litigation, risk mitigation, and crisis management. Clients include large global corporates, banks, private equity funds, governments, and 96 of the top 100 law firms. (Click here to read full text)