Legal & General Group Plc Purchases New Holdings in Charles River Associates $CRAI

Key Points

• Legal & General Group Plc acquired 6,753 shares of Charles River Associates in the second quarter, valued at about $961,000. Institutional investors collectively own 84.13% of CRAI.
• Charles River Associates reported quarterly EPS of $2.16, slightly above estimates, while revenue of $210.81 million exceeded consensus expectations of $198.91 million.
• Analysts maintain a “Moderate Buy” consensus with a $245 price target. CRAI also declared a quarterly dividend of $0.57 per share, equivalent to a 1.3% yield.

Legal & General Group Plc purchased a new stake in Charles River Associates (NASDAQ:CRAI - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 6,753 shares of the business services provider's stock, valued at approximately $961,000. Legal & General Group Plc owned approximately 0.11% of Charles River Associates as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Jones Financial Companies Lllp acquired a new stake in shares of Charles River Associates during the 1st quarter worth approximately $27,000. BNP Paribas Financial Markets raised its stake in shares of Charles River Associates by 243.8% in the second quarter. BNP Paribas Financial Markets now owns 11,511 shares of the business services provider's stock valued at $2,157,000 after purchasing an additional 8,163 shares in the last quarter. Lazard Asset Management LLC bought a new position in Charles River Associates in the second quarter worth $1,424,000. Kennedy Capital Management LLC lifted its position in Charles River Associates by 63.9% in the third quarter. Kennedy Capital Management LLC now owns 6,410 shares of the business services provider's stock worth $1,337,000 after purchasing an additional 2,500 shares during the period. Finally, Jump Financial LLC boosted its stake in Charles River Associates by 72.3% during the third quarter. Jump Financial LLC now owns 32,642 shares of the business services provider's stock worth $6,807,000 after buying an additional 13,692 shares in the last quarter. Institutional investors own 84.13% of the company's stock.

Analyst Ratings Changes

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

Insider Buying and Selling at Charles River Associates

In other news, EVP Jonathan Yellin sold 2,250 shares of the company's stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $173.25, for a total value of $389,812.50. Following the sale, the executive vice president owned 11,153 shares of the company's stock, valued at approximately $1,932,257.25. This represents a 16.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 4.50% of the company's stock.

Charles River Associates Stock Performance

Shares of CRAI opened at $170.91 on Tuesday. Charles River Associates has a 1 year low of $132.17 and a 1 year high of $227.29. The stock has a 50 day simple moving average of $168.85 and a 200-day simple moving average of $159.77. The stock has a market cap of $1.07 billion, a PE ratio of 22.76, a PEG ratio of 1.27 and a beta of 0.65.

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 the consensus estimate 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 business had revenue of $210.81 million during the quarter, compared to the consensus estimate of $198.91 million. On average, sell-side analysts forecast that Charles River Associates will post 8.43 EPS for the current fiscal year.

Charles River Associates Announces Dividend

The company also recently announced 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. This represents a $2.28 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Tuesday, August 25th. Charles River Associates's payout ratio is currently 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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