Charles River Associates (NASDAQ:CRAI) Short Interest Down 16.4% in March

Key Points

• Short interest fell 16.4% in March to 260,786 shares (about 4.2% of the stock) with a days-to-cover ratio of 1.2, signaling reduced bearish positioning.
• Research analysts collectively rate CRAI a Buy with an average price target of $245, well above the recent trade near $163.66.
• EVP Jonathan D. Yellin sold 2,250 shares at $182.27, insiders now own 4.7% of the stock while institutional investors and hedge funds hold about 84.13%.

Charles River Associates (NASDAQ:CRAI - Get Free Report) was the recipient of a significant decline in short interest in March. As of March 31st, there was short interest totaling 260,786 shares, a decline of 16.4% from the March 15th total of 311,772 shares. Based on an average daily trading volume, of 221,381 shares, the days-to-cover ratio is currently 1.2 days. Approximately 4.2% of the company's stock are sold short.

Analysts Set New Price Targets

A number of analysts have recently commented on CRAI shares. Barrington Research reissued an "outperform" rating and issued a $245.00 price objective on shares of Charles River Associates in a research report on Monday, March 2nd. Weiss Ratings reissued a "buy (b-)" rating on shares of Charles River Associates in a research report on Friday, April 10th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Charles River Associates currently has an average rating of "Buy" and an average price target of $245.00.

Insider Activity at Charles River Associates

In other news, EVP Jonathan D. Yellin sold 2,250 shares of the business's stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $182.27, for a total value of $410,107.50. Following the sale, the executive vice president owned 14,046 shares of the company's stock, valued at $2,560,164.42. The trade was a 13.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Charles River Associates

A number of institutional investors have recently added to or reduced their stakes in CRAI. Jones Financial Companies Lllp acquired a new position in shares of Charles River Associates in the first quarter valued at $27,000. Longboard Asset Management LP acquired a new position in shares of Charles River Associates in the third quarter valued at $217,000. Entropy Technologies LP acquired a new position in shares of Charles River Associates in the fourth quarter valued at $401,000. Russell Investments Group Ltd. increased its holdings in shares of Charles River Associates by 8.2% in the fourth quarter. Russell Investments Group Ltd. now owns 4,180 shares of the business services provider's stock valued at $839,000 after purchasing an additional 318 shares during the last quarter. Finally, Arkadios Wealth Advisors increased its holdings in shares of Charles River Associates by 3.1% in the fourth quarter. Arkadios Wealth Advisors now owns 4,388 shares of the business services provider's stock valued at $881,000 after purchasing an additional 134 shares during the last quarter. 84.13% of the stock is currently owned by institutional investors and hedge funds.

Charles River Associates Stock Up 1.0%

Shares of CRAI stock traded up $1.66 during trading on Friday, reaching $163.66. The company's stock had a trading volume of 28,413 shares, compared to its average volume of 165,431. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 20.18, a price-to-earnings-growth ratio of 1.19 and a beta of 0.85. Charles River Associates has a one year low of $149.96 and a one year high of $227.29. The business has a fifty day moving average price of $164.42 and a 200-day moving average price of $183.25.

Charles River Associates (NASDAQ:CRAI - Get Free Report) last issued its earnings results on Thursday, February 26th. The business services provider reported $2.06 earnings per share for the quarter, topping analysts' consensus estimates of $2.05 by $0.01. The business had revenue of $196.96 million for the quarter, compared to the consensus estimate of $190.54 million. Charles River Associates had a net margin of 7.29% and a return on equity of 26.15%. Research analysts anticipate that Charles River Associates will post 7.52 EPS for the current year.

Charles River Associates Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Tuesday, March 10th were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Tuesday, March 10th. Charles River Associates's payout ratio is presently 28.04%.

Charles River Associates Company Profile

Charles River Associates NASDAQ: CRAI is a global consulting firm specializing in economic, financial and management advisory services. Founded in 1965 and headquartered in Boston, Massachusetts, the company provides expert analysis to support litigation, regulatory proceedings, and strategic decision-making. Its multidisciplinary teams draw on academic rigor and industry experience to deliver quantitative and qualitative insights tailored to clients' needs.

The firm's service offerings include competition economics, antitrust and merger analysis, intellectual property valuation and damages assessment, and risk management.

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