Man Group plc Takes $2.36 Million Position in Charles River Associates $CRAI

Key Points

• Man Group plc acquired 16,601 shares of Charles River Associates worth approximately $2.36 million, representing about 0.26% of the company. Institutional investors collectively own 84.13% of CRAI.
• Charles River Associates reported quarterly EPS of $2.16, slightly exceeding estimates, while revenue of $210.81 million surpassed forecasts. Analysts maintain a “Moderate Buy” consensus with a $245 price target.
• CRAI declared a quarterly dividend of $0.57 per share, equivalent to $2.28 annually and a 1.3% yield; an executive separately sold 2,250 shares under a pre-arranged trading plan.

Man Group plc bought a new stake in Charles River Associates (NASDAQ:CRAI - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 16,601 shares of the business services provider's stock, valued at approximately $2,362,000. Man Group plc owned approximately 0.26% of Charles River Associates as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Jones Financial Companies Lllp purchased a new position in Charles River Associates in the 1st quarter worth approximately $27,000. Allworth Financial LP purchased a new stake in shares of Charles River Associates during the second quarter valued at approximately $35,000. Quantbot Technologies LP acquired a new position in shares of Charles River Associates during the second quarter worth $53,000. Persistent Asset Partners Ltd acquired a new position in shares of Charles River Associates during the second quarter worth $55,000. Finally, State of Wyoming purchased a new position in shares of Charles River Associates in the second quarter valued at $74,000. 84.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Charles River Associates Stock Performance

Shares of CRAI opened at $172.48 on Wednesday. Charles River Associates has a one year low of $132.17 and a one year high of $227.29. The stock has a 50-day moving average price of $166.69 and a 200 day moving average price of $159.32. The company has a market capitalization of $1.08 billion, a P/E ratio of 22.97, a P/E/G ratio of 1.29 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, beating 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 company had revenue of $210.81 million for the quarter, compared to analyst estimates 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 fiscal year.

Charles River Associates Announces Dividend

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

Insider Buying and Selling at Charles River Associates

In related news, EVP Jonathan D. Yellin sold 2,250 shares of the business's stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $173.25, for a total value of $389,812.50. Following the completion of the sale, the executive vice president directly owned 11,153 shares of the company's stock, valued at $1,932,257.25. The trade was a 16.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 4.50% of the company's stock.

About Charles River Associates

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.

Want to see what other hedge funds are holding CRAI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Charles River Associates (NASDAQ:CRAI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source