Charles River Associates (NASDAQ:CRAI) Shares Gap Down – Here’s Why

Charles River Associates (NASDAQ:CRAI)’s share price gapped down prior to trading on Wednesday. The stock had previously closed at $201.59, but opened at $192.81. Charles River Associates shares last traded at $194.8110, with a volume of 5,381 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Charles River Associates from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, September 25th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $245.00.

Charles River Associates Stock Up 2.0%

The company has a market cap of $1.24 billion, a PE ratio of 26.20, a price-to-earnings-growth ratio of 1.43 and a beta of 0.70. The business has a 50-day simple moving average of $174.03 and a 200-day simple moving average of $166.64.

Charles River Associates (NASDAQ:CRAI) last released its quarterly earnings results on Thursday, August 6th. The business services provider reported $2.16 EPS for the quarter, topping the consensus estimate of $2.15 by $0.01. The business had revenue of $210.81 million during the quarter, compared to analyst estimates of $198.91 million. Charles River Associates had a return on equity of 27.31% and a net margin of 6.20%. As a group, equities research analysts predict that Charles River Associates will post 8.43 EPS for the current fiscal year.

Charles River Associates Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 14th. Stockholders of record on Tuesday, August 25th were given a dividend of $0.57 per share. The ex-dividend date of this dividend was Tuesday, August 25th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.2%. Charles River Associates’s payout ratio is currently 30.36%.

Insider Buying and Selling at Charles River Associates

In related news, EVP Jonathan Yellin sold 2,250 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $173.25, for a total value of $389,812.50. Following the sale, the executive vice president owned 11,153 shares of the company’s stock, valued at $1,932,257.25. This trade represents a 16.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 4.50% of the company’s stock.

Institutional Trading of Charles River Associates

Hedge funds and other institutional investors have recently bought and sold shares of the business. United Capital Financial Advisors LLC acquired a new stake in Charles River Associates during the second quarter worth approximately $5,959,000. PDT Partners LLC purchased a new stake in shares of Charles River Associates during the 2nd quarter worth approximately $4,660,000. Legal & General Group Plc acquired a new position in shares of Charles River Associates in the 2nd quarter valued at $961,000. Jupiter Topco LLC acquired a new position in shares of Charles River Associates in the 2nd quarter valued at $19,965,000. Finally, Man Group plc purchased a new position in shares of Charles River Associates in the 2nd quarter valued at $2,362,000. 84.13% of the stock is currently owned by institutional investors and hedge funds.

About Charles River Associates

Charles River Associates, operating as CRA International, Inc, is a global consulting firm that provides economic, financial, and management consulting services. The company advises corporations, law firms, government agencies, and other organizations on complex business, legal, regulatory, and strategic matters.

CRA’s services include economic and financial analysis for litigation and regulatory proceedings, antitrust and competition consulting, corporate strategy, business performance improvement, and investigations.