Is FTI Consulting (FCN) a Recession Proof Stock?
Carillon Tower Advisers, an investment management company, released its “Carillon Scout Mid Cap Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. In the second quarter, majority of the equity indexes declined due to interest rate hikes, Russia-Ukraine war, and Federal Reserve's balance-sheet tapering. Mid-cap and small-cap stocks poorly performed in the quarter relative to other investments. The fund’s portfolio was most overweight in the utilities and consumer staples sectors and is currently underweight in the information technology sector. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Carillon Tower Advisers discussed stocks like FTI Consulting, Inc. (NYSE:FCN) in the second quarter 2022 investor letter. Headquartered in Washington, District of Columbia, FTI Consulting, Inc. (NYSE:FCN) is a business advisory services provider. On October 5, 2022, FTI Consulting, Inc. (NYSE:FCN) stock closed at $173.51 per share. One-month return of FTI Consulting, Inc. (NYSE:FCN) was 9.53% and its shares gained 23.60% of their value over the last 52 weeks. FTI Consulting, Inc. (NYSE:FCN) has a market capitalization of $5.95 billion.
Here is what Carillon Tower Advisers specifically said about FTI Consulting, Inc. (NYSE:FCN) in its Q2 2022 investor letter:
"FTI Consulting, Inc. (NYSE:FCN) rose as the Fed’s actions and hawkish tone stoked fears of recession later in 2022 or in 2023. FTI generates substantial revenue from business restructurings and bankruptcies, which tend to increase in recessions."
FTI Consulting, Inc. (NYSE:FCN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 18 hedge fund portfolios held FTI Consulting, Inc. (NYSE:FCN) at the end of the second quarter which was 19 in the previous quarter.
We discussed FTI Consulting, Inc. (NYSE:FCN) in another article and shared Upslope Capital Management’s views on the company. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
