Charles River Associates (NASDAQ:CRAI) Trading Down 5.5% - Time to Sell?

Charles River Associates (NASDAQ:CRAI - Get Free Report)'s share price dropped 5.5% during trading on Wednesday . The company traded as low as $181.17 and last traded at $178.97. Approximately 63,859 shares were traded during trading, an increase of 10% from the average daily volume of 58,227 shares. The stock had previously closed at $189.32.

Analysts Set New Price Targets

CRAI has been the subject of a number of research analyst reports. Barrington Research boosted their price target on Charles River Associates from $224.00 to $228.00 and gave the stock an "outperform" rating in a report on Wednesday, May 21st. Wall Street Zen cut Charles River Associates from a "buy" rating to a "hold" rating in a research note on Sunday.

Charles River Associates Trading Down 0.4%

The firm has a 50-day moving average of $188.71 and a 200 day moving average of $182.75. The company has a market cap of $1.22 billion, a P/E ratio of 24.23, a price-to-earnings-growth ratio of 1.41 and a beta of 0.91.

Charles River Associates (NASDAQ:CRAI - Get Free Report) last announced its earnings results on Thursday, May 1st. The business services provider reported $2.22 EPS for the quarter, beating the consensus estimate of $1.93 by $0.29. The company had revenue of $181.85 million for the quarter, compared to analyst estimates of $176.63 million. Charles River Associates had a return on equity of 25.88% and a net margin of 7.31%. On average, equities analysts predict that Charles River Associates will post 7.52 EPS for the current year.

Charles River Associates Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Tuesday, May 27th were issued a $0.49 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $1.96 annualized dividend and a yield of 1.09%. Charles River Associates's payout ratio is currently 26.45%.

Insider Activity at Charles River Associates

In other news, EVP Jonathan D. Yellin sold 1,750 shares of the 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 directly owned 19,073 shares of the company's stock, valued at $3,594,497.58. This represents a 8.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Paul A. Maleh sold 7,500 shares of the stock in a transaction that occurred 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 sale, the chief executive officer directly owned 141,545 shares of the company's stock, valued at $26,981,307.90. The trade was a 5.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.70% of the company's stock.

Institutional Trading of Charles River Associates

A number of institutional investors and hedge funds have recently modified their holdings of CRAI. Jones Financial Companies Lllp purchased a new stake in Charles River Associates in the first quarter worth $27,000. Ameriprise Financial Inc. bought a new stake in Charles River Associates during the fourth quarter valued at $249,000. KLP Kapitalforvaltning AS bought a new stake in Charles River Associates during the fourth quarter worth about $281,000. Strs Ohio bought a new stake in Charles River Associates during the first quarter worth about $329,000. Finally, Quantbot Technologies LP bought a new stake in Charles River Associates during the first quarter worth about $360,000. 84.13% of the stock is owned by hedge funds and other institutional investors.

About Charles River Associates

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.