GAMMA Investing LLC lifted its stake in shares of Charles River Associates (NASDAQ:CRAI - Free Report) by 28,517.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,582 shares of the business services provider's stock after acquiring an additional 6,559 shares during the quarter. GAMMA Investing LLC owned 0.10% of Charles River Associates worth $1,140,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of CRAI. Ameriprise Financial Inc. acquired a new position in shares of Charles River Associates in the 4th quarter valued at $249,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Charles River Associates during the fourth quarter valued at approximately $281,000. Farther Finance Advisors LLC lifted its position in shares of Charles River Associates by 3.3% in the 4th quarter. Farther Finance Advisors LLC now owns 3,418 shares of the business services provider's stock valued at $640,000 after acquiring an additional 108 shares in the last quarter. Summit Global Investments acquired a new position in Charles River Associates in the 4th quarter worth approximately $656,000. Finally, MetLife Investment Management LLC boosted its stake in Charles River Associates by 6.7% in the 4th quarter. MetLife Investment Management LLC now owns 3,982 shares of the business services provider's stock worth $745,000 after purchasing an additional 250 shares during the period. 84.13% of the stock is currently owned by institutional investors and hedge funds.
Charles River Associates Price Performance
Shares of NASDAQ CRAI traded down $1.14 during trading hours on Thursday, hitting $182.25. 324,631 shares of the company's stock were exchanged, compared to its average volume of 48,827. The company's 50-day moving average price is $178.98 and its 200-day moving average price is $182.73. Charles River Associates has a 1-year low of $133.54 and a 1-year high of $214.01. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 24.60, a PEG ratio of 1.43 and a beta of 0.93.
Charles River Associates (NASDAQ:CRAI - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The business services provider reported $2.22 EPS for the quarter, topping analysts' consensus estimates of $1.93 by $0.29. Charles River Associates had a return on equity of 25.88% and a net margin of 7.31%. The company had revenue of $181.85 million during the quarter, compared to analyst estimates of $176.63 million. On average, research analysts expect that Charles River Associates will post 7.52 earnings per share for the current year.
Charles River Associates Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Tuesday, May 27th were given a $0.49 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $1.96 annualized dividend and a yield of 1.08%. Charles River Associates's dividend payout ratio is 26.45%.
Insider Transactions at Charles River Associates
In related news, EVP Jonathan D. Yellin sold 1,750 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $188.46, for a total value of $329,805.00. Following the completion of the transaction, the executive vice president now owns 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Paul A. Maleh sold 7,500 shares of Charles River Associates 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 now directly owns 141,545 shares in the company, 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. Insiders own 4.70% of the company's stock.
Wall Street Analyst Weigh In
Separately, Barrington Research increased their price objective on Charles River Associates from $224.00 to $228.00 and gave the stock an "outperform" rating in a report on Wednesday, May 21st.
Check Out Our Latest Analysis on CRAI
About Charles River Associates
(
Free Report)
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.
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