Black Creek Investment Management, a name whispered with a degree of reverence (and a touch of suspicion) amongst those who track the flow of capital, recently made a rather substantial pronouncement. They’ve added a considerable pile of shares – 402,008, to be precise – of FTI Consulting. This isn’t just pocket change, mind you; we’re talking an estimated $66.27 million, calculated using the somewhat optimistic art of quarterly average pricing. It’s a bet, a wager, a carefully considered… expenditure. One might even say a ritual offering to the gods of quarterly earnings reports.
What’s Actually Happened
According to the official scrolls (otherwise known as an SEC filing dated February 13, 2026), Black Creek has increased its stake in FTI Consulting. The aforementioned 402,008 shares represent a tidy sum, and the fund’s total holding in the company has swelled by $74.83 million, a figure that accounts for both the transaction itself and the fickle whims of the market. It’s a bit like trying to herd cats – you can nudge them in the right direction, but they’ll still insist on occasionally chasing dust bunnies.
A Deeper Look – And What It All Means
- Black Creek’s increased stake now represents a commanding 9.09% of their reportable AUM (Assets Under Management). AUM, of course, is a polite way of saying “the stuff we’re responsible for not losing.”
- Here’s a glimpse into Black Creek’s top holdings, a sort of royal court of favored investments:
- NYSE:ELAN: $250.32 million (12.4% of AUM)
- NYSE:BAH: $211.34 million (10.5% of AUM)
- NASDAQ:PSMT: $201.01 million (10.0% of AUM)
- NASDAQ:PYPL: $187.56 million (9.3% of AUM)
- NYSE:FCN: $183.17 million (9.1% of AUM)
- As of February 12, 2026, FTI Consulting shares were trading at $160.91. Which, let’s be honest, is a price point that feels… precarious. The stock has underperformed the S&P 500 by a rather alarming 29.04 percentage points over the past year. A clear indication that the market has a sense of humour.1
Company Overview – The Bare Facts (Mostly)
| Metric | Value |
|---|---|
| Price (as of market close February 12, 2026) | $160.91 |
| Market capitalization | $5.31 billion |
| Revenue (TTM) | $3.69 billion |
| Net income (TTM) | $266.05 million |
What FTI Consulting Actually Does
FTI Consulting offers business advisory services, a phrase that sounds far more glamorous than it is. It essentially involves helping other companies navigate the treacherous waters of corporate life. They’re divided into five segments: corporate finance and restructuring, forensic and litigation consulting, economic consulting, technology, and strategic communications. They help companies change, mitigate risk, and resolve disputes. Think of them as highly-paid problem-solvers, specializing in the kind of problems most of us are blissfully unaware of. They serve a diverse client base, spanning industries from aerospace to financial services, healthcare to energy. A truly impressive reach, if you ignore the fact that most industries are, fundamentally, just trying to avoid collapse.
So, Why This Transaction? A Question for the Ages
In October, FTI Consulting posted record third-quarter revenue of $956.2 million, up 3% year over year, and record diluted EPS of $2.60, up 41%. A promising sign, certainly. Adjusted EBITDA margin expanded to 13.7%, which sounds impressive until you realize EBITDA doesn’t include, well, a lot of things. Management also raised full-year 2025 EPS guidance to $7.62 to $8.12, with adjusted EPS projected as high as $8.70. These numbers are…encouraging.2
This isn’t a bet on the next shiny gadget or disruptive technology. It’s a bet on the enduring need for restructuring, litigation, and strategic communication. When things go wrong – and they always do – someone needs to clean up the mess. When profits hit records and shares retreat, that tension can create opportunity. Black Creek clearly believes that FTI Consulting is well-positioned to capitalize on this enduring need. It’s a calculated gamble, a carefully considered expenditure, and, frankly, a rather sensible one. Unless, of course, the entire edifice of modern finance comes crashing down. But let’s not dwell on that just yet.
1 The market, of course, is a fickle beast, prone to irrational exuberance and equally irrational panic. It’s best not to take its pronouncements too seriously.
2 Numbers are, ultimately, just symbols. They can be manipulated, misinterpreted, and outright fabricated. But they do look good in reports.
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2026-02-14 20:23