Bank of New York Mellon Corp Makes New $5.32 Million Investment in Charles River Associates $CRAI

Key Points

• Bank of New York Mellon acquired 37,375 shares of Charles River Associates, valued at approximately $5.32 million, giving it a 0.58% stake. Institutional investors collectively own 84.13% of the company.
• Charles River Associates exceeded quarterly expectations, reporting $2.16 in EPS and $210.81 million in revenue versus estimates of $2.15 and $198.91 million, respectively.
• The stock carries a “Moderate Buy” consensus rating with a $245 price target, while CRAI shares recently traded at $170.91. The company also declared a quarterly dividend of $0.57 per share, yielding about 1.3% annually.

Bank of New York Mellon Corp purchased a new stake in shares of Charles River Associates (NASDAQ:CRAI - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 37,375 shares of the business services provider's stock, valued at approximately $5,318,000. Bank of New York Mellon Corp owned 0.58% of Charles River Associates as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Jones Financial Companies Lllp acquired a new stake in shares of Charles River Associates in the first quarter valued at $27,000. State of Wyoming bought a new stake in Charles River Associates in the second quarter worth about $74,000. Entropy Technologies LP acquired a new stake in Charles River Associates in the 4th quarter valued at about $401,000. GSA Capital Partners LLP acquired a new stake in Charles River Associates in the 2nd quarter valued at about $623,000. Finally, Russell Investments Group Ltd. boosted its position in shares of Charles River Associates by 8.2% during the 4th 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 in the last quarter. Institutional investors own 84.13% of the company's stock.

Insider Buying and Selling at Charles River Associates

In related news, EVP Jonathan Yellin sold 2,250 shares of Charles River Associates stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $173.25, for a total transaction of $389,812.50. Following the sale, the executive vice president directly 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 transaction was disclosed in a 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.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Charles River Associates in a report on Friday, August 7th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $245.00.

Charles River Associates Stock Performance

Shares of NASDAQ CRAI opened at $170.91 on Friday. The business's 50-day simple moving average is $168.31 and its 200-day simple moving average is $159.65. Charles River Associates has a 52 week low of $132.17 and a 52 week high of $227.29. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 22.76, a P/E/G ratio of 1.28 and a beta of 0.65.

Charles River Associates (NASDAQ:CRAI - Get Free Report) last announced its earnings results on Thursday, August 6th. The business services provider reported $2.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.01. Charles River Associates had a return on equity of 27.31% and a net margin of 6.20%.The firm had revenue of $210.81 million during the quarter, compared to analysts' expectations of $198.91 million. As a group, equities research analysts forecast that Charles River Associates will post 8.43 earnings per share for the current year.

Charles River Associates Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Tuesday, August 25th will be paid a $0.57 dividend. The ex-dividend date is Tuesday, August 25th. This represents a $2.28 annualized dividend and a dividend yield of 1.3%. Charles River Associates's dividend payout ratio (DPR) is presently 30.36%.

Charles River Associates 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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