Cinctive Capital Management LP Lowers Position in Charles River Laboratories International, Inc. $CRL

Key Points

• Cinctive Capital Management LP significantly reduced its holdings in Charles River Laboratories by 83.8%, now owning 1,988 shares valued at $299,000.
• Several institutional investors, including Ameriprise Financial Inc. and BNP Paribas Financial Markets, increased their stakes in Charles River, showcasing strong interest among hedge funds.
• Charles River Laboratories reported $1.03 billion in quarterly revenue, exceeding expectations, and a $3.12 EPS, surpassing consensus estimates of $2.50.

Cinctive Capital Management LP lessened its holdings in Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 83.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,988 shares of the medical research company's stock after selling 10,264 shares during the quarter. Cinctive Capital Management LP's holdings in Charles River Laboratories International were worth $299,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in CRL. Rothschild Investment LLC grew its stake in shares of Charles River Laboratories International by 480.0% in the 1st quarter. Rothschild Investment LLC now owns 174 shares of the medical research company's stock worth $26,000 after buying an additional 144 shares during the last quarter. Brooklyn Investment Group boosted its holdings in Charles River Laboratories International by 93.5% in the first quarter. Brooklyn Investment Group now owns 178 shares of the medical research company's stock worth $27,000 after acquiring an additional 86 shares in the last quarter. HM Payson & Co. bought a new stake in Charles River Laboratories International in the first quarter worth $31,000. Parallel Advisors LLC grew its stake in shares of Charles River Laboratories International by 83.7% in the first quarter. Parallel Advisors LLC now owns 474 shares of the medical research company's stock worth $71,000 after acquiring an additional 216 shares during the last quarter. Finally, Groupe la Francaise increased its holdings in shares of Charles River Laboratories International by 44.6% during the first quarter. Groupe la Francaise now owns 590 shares of the medical research company's stock valued at $89,000 after acquiring an additional 182 shares in the last quarter. 98.91% of the stock is currently owned by hedge funds and other institutional investors.

Charles River Laboratories International Stock Performance

CRL stock traded down $3.83 on Tuesday, hitting $158.17. The company had a trading volume of 1,298,583 shares, compared to its average volume of 1,234,388. The company has a current ratio of 1.36, a quick ratio of 1.10 and a debt-to-equity ratio of 0.69. Charles River Laboratories International, Inc. has a 12-month low of $91.86 and a 12-month high of $230.02. The stock has a market cap of $7.78 billion, a price-to-earnings ratio of -118.92, a P/E/G ratio of 5.24 and a beta of 1.47. The stock's 50-day simple moving average is $160.83 and its 200 day simple moving average is $148.92.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The medical research company reported $3.12 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.62. The firm had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $983.76 million. Charles River Laboratories International had a positive return on equity of 15.74% and a negative net margin of 1.69%.The company's revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.80 EPS. As a group, equities research analysts expect that Charles River Laboratories International, Inc. will post 9.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on CRL. Redburn Atlantic upgraded shares of Charles River Laboratories International from a "neutral" rating to a "buy" rating and dropped their price target for the stock from $188.00 to $182.00 in a research note on Friday, May 23rd. Evercore ISI raised their price objective on shares of Charles River Laboratories International from $180.00 to $190.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Cowen upgraded shares of Charles River Laboratories International from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Wall Street Zen cut shares of Charles River Laboratories International from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 17th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Charles River Laboratories International from $145.00 to $160.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Six analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $177.07.

Insider Transactions at Charles River Laboratories International

In other Charles River Laboratories International news, EVP Joseph W. Laplume sold 800 shares of the business's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $157.60, for a total transaction of $126,080.00. Following the completion of the sale, the executive vice president directly owned 24,116 shares in the company, valued at $3,800,681.60. The trade was a 3.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.30% of the company's stock.

Charles River Laboratories International Profile

Charles River Laboratories International, Inc provides drug discovery, non-clinical development, and safety testing services in the United States, Europe, Canada, the Asia Pacific, and internationally. It operates through three segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Solutions (Manufacturing).