Charles River Associates (NASDAQ:CRAI) Sees Unusually-High Trading Volume - Here's Why

Charles River Associates (NASDAQ:CRAI - Get Free Report) shares saw an uptick in trading volume on Wednesday . 226,174 shares traded hands 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.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CRAI. Barrington Research increased their price objective on shares of Charles River Associates from $224.00 to $228.00 and gave the company an "outperform" rating in a research note on Wednesday, May 21st. Wall Street Zen lowered shares of Charles River Associates from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st.

Charles River Associates Trading Up 0.5%

The company has a 50 day moving average of $181.58 and a 200 day moving average of $182.49. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 25.24, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93.

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

Charles River Associates Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Tuesday, May 27th were given a dividend of $0.49 per share. The ex-dividend date was Tuesday, May 27th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 1.05%. Charles River Associates's payout ratio is 26.45%.

Insider Activity at Charles River Associates

In other news, CEO Paul A. Maleh sold 7,500 shares of Charles River Associates stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $190.62, for a total transaction of $1,429,650.00. Following the completion of the sale, the chief executive officer now owns 141,545 shares in the company, valued at $26,981,307.90. The trade was a 5.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jonathan D. Yellin sold 1,750 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $188.46, for a total transaction of $329,805.00. Following the sale, the executive vice president now owns 19,073 shares of the company's stock, valued at $3,594,497.58. The trade was a 8.40% decrease in their position. The disclosure for this sale can be found here. 4.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Charles River Associates

Institutional investors have recently made changes to their positions in the stock. United Capital Financial Advisors LLC acquired a new position in shares of Charles River Associates during the 4th quarter worth about $9,389,000. Foundry Partners LLC boosted its stake in Charles River Associates by 56.0% during the 4th quarter. Foundry Partners LLC now owns 29,115 shares of the business services provider's stock worth $5,450,000 after acquiring an additional 10,455 shares during the last quarter. GAMMA Investing LLC grew its holdings in Charles River Associates by 28,517.4% during the first quarter. GAMMA Investing LLC now owns 6,582 shares of the business services provider's stock valued at $1,140,000 after purchasing an additional 6,559 shares during the period. Jump Financial LLC bought a new stake in Charles River Associates in the first quarter valued at approximately $628,000. Finally, SG Americas Securities LLC raised its holdings in Charles River Associates by 599.7% in the first quarter. SG Americas Securities LLC now owns 4,121 shares of the business services provider's stock worth $714,000 after purchasing an additional 3,532 shares during the period. 84.13% of the stock is owned by institutional investors and hedge funds.

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.