Charles River Associates (NASDAQ:CRAI) Sees Strong Trading Volume - Here's What Happened

Charles River Associates (NASDAQ:CRAI - Get Free Report) shares saw unusually-strong trading volume on Wednesday . Approximately 226,174 shares were traded during trading, an increase of 347% from the previous session's volume of 50,587 shares.The stock last traded at $185.01 and had previously closed at $188.03.

Analysts Set New Price Targets

A number of research firms have weighed in on CRAI. Wall Street Zen cut shares of Charles River Associates from a "buy" rating to a "hold" rating in a research report on Saturday. Barrington Research boosted their target price on shares of Charles River Associates from $224.00 to $228.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 21st.

Charles River Associates Trading Down 1.7%

The stock's 50-day moving average price is $180.23 and its 200-day moving average price is $182.48. The company has a market capitalization of $1.26 billion, a P/E ratio of 24.95, a P/E/G ratio of 1.43 and a beta of 0.93.

Charles River Associates (NASDAQ:CRAI - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.22 EPS for the quarter, topping analysts' consensus estimates of $1.93 by $0.29. Charles River Associates had a return on equity of 25.88% and a net margin of 7.31%. The firm had revenue of $181.85 million during the quarter, compared to the consensus estimate of $176.63 million. Sell-side analysts expect that Charles River Associates will post 7.52 earnings per share for the current fiscal year.

Charles River Associates Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Tuesday, May 27th were paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 1.06%. The ex-dividend date was Tuesday, May 27th. Charles River Associates's payout ratio is currently 26.45%.

Insider Buying and Selling

In other Charles River Associates news, EVP Jonathan D. Yellin sold 1,750 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $188.46, for a total value of $329,805.00. Following the completion of the sale, the executive vice president now directly owns 19,073 shares in the company, valued at $3,594,497.58. This represents a 8.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Paul A. Maleh sold 7,500 shares of Charles River Associates stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $190.62, for a total value of $1,429,650.00. Following the transaction, the chief executive officer now owns 141,545 shares in the company, valued at approximately $26,981,307.90. This trade represents a 5.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.20% of the company's stock.

Institutional Trading of Charles River Associates

Several institutional investors have recently modified their holdings of CRAI. Jones Financial Companies Lllp bought a new stake in Charles River Associates in the first quarter worth about $27,000. Ameriprise Financial Inc. bought a new stake in shares of Charles River Associates in the 4th quarter worth approximately $249,000. KLP Kapitalforvaltning AS bought a new stake in shares of Charles River Associates in the 4th quarter worth approximately $281,000. Strs Ohio acquired a new stake in Charles River Associates during the first quarter valued at approximately $329,000. Finally, Quantbot Technologies LP bought a new stake in Charles River Associates during the first quarter worth approximately $360,000. Institutional investors and hedge funds own 84.13% of the company's stock.

Charles River Associates Company Profile

CRA International, Inc, together with its subsidiaries, provides economic, financial, and management consulting services worldwide. It advises clients on economic and financial matters pertaining to litigation and regulatory proceedings; and guides corporations through business strategy and performance-related issues.

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