Corient Private Wealth LP Buys Shares of 6,257 Charles River Associates $CRAI

Key Points

• Corient Private Wealth LP acquired 6,257 Charles River Associates shares worth approximately $890,000, while several other institutional investors also initiated positions. Institutions collectively own 84.13% of the company.
• Charles River Associates reported quarterly revenue of $210.81 million and adjusted earnings of $2.16 per share, narrowly exceeding analyst estimates. Analysts have a consensus “Moderate Buy” rating and an average price target of $245.
• The company declared a quarterly dividend of $0.57 per share, equivalent to an annualized $2.28 payout and a 1.3% yield. Shares recently opened at $170.91, while an executive sold 2,250 shares under a pre-arranged trading plan.

Corient Private Wealth LP bought a new stake in shares of Charles River Associates (NASDAQ:CRAI - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 6,257 shares of the business services provider's stock, valued at approximately $890,000. Corient Private Wealth LP owned about 0.10% of Charles River Associates as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Bank of America Corp DE purchased a new stake in shares of Charles River Associates in the 2nd quarter worth approximately $3,046,000. Freestone Grove Partners LP bought a new stake in Charles River Associates during the 2nd quarter valued at about $590,000. Man Group plc bought a new stake in Charles River Associates during the 2nd quarter valued at about $2,362,000. Jupiter Topco LLC purchased a new position in Charles River Associates in the second quarter worth about $19,965,000. Finally, Hsbc Holdings PLC purchased a new position in Charles River Associates in the second quarter worth about $1,029,000. 84.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity at Charles River Associates

In related news, EVP Jonathan Yellin sold 2,250 shares of the company's stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $173.25, for a total transaction of $389,812.50. Following the completion of the sale, the executive vice president owned 11,153 shares in the company, valued at approximately $1,932,257.25. This represents a 16.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.50% of the stock is owned by insiders.

Charles River Associates Stock Down 1.0%

Shares of Charles River Associates stock opened at $170.91 on Friday. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 22.76, a price-to-earnings-growth ratio of 1.27 and a beta of 0.65. The company's 50 day moving average is $168.31 and its 200 day moving average is $159.65. Charles River Associates has a twelve month low of $132.17 and a twelve month high of $227.29.

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

Charles River Associates Announces Dividend

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

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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