Spinnaker Trust Sells 12,000 Shares of Charles River Associates (NASDAQ:CRAI)

Spinnaker Trust reduced its stake in Charles River Associates (NASDAQ:CRAI - Free Report) by 67.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,681 shares of the business services provider's stock after selling 12,000 shares during the period. Spinnaker Trust owned 0.08% of Charles River Associates worth $984,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. United Capital Financial Advisors LLC acquired a new stake in shares of Charles River Associates during the 4th quarter worth $9,389,000. Foundry Partners LLC increased its holdings in Charles River Associates by 56.0% in the 4th quarter. Foundry Partners LLC now owns 29,115 shares of the business services provider's stock valued at $5,450,000 after buying an additional 10,455 shares during the period. GAMMA Investing LLC raised its position in shares of Charles River Associates by 28,517.4% in the 1st quarter. GAMMA Investing LLC now owns 6,582 shares of the business services provider's stock valued at $1,140,000 after buying an additional 6,559 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Charles River Associates by 599.7% during the 1st quarter. SG Americas Securities LLC now owns 4,121 shares of the business services provider's stock worth $714,000 after acquiring an additional 3,532 shares during the period. Finally, Summit Global Investments bought a new stake in shares of Charles River Associates during the 4th quarter worth approximately $656,000. 84.13% of the stock is owned by institutional investors.

Insider Buying and Selling at Charles River Associates

In other news, CEO Paul A. Maleh sold 7,500 shares of Charles River Associates stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $190.62, for a total transaction of $1,429,650.00. Following the sale, the chief executive officer directly owned 141,545 shares of the company's stock, valued at approximately $26,981,307.90. This trade represents a 5.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jonathan D. Yellin sold 1,750 shares of the company's stock in a transaction that occurred on 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 directly owned 19,073 shares of the company's stock, valued at $3,594,497.58. This represents a 8.40% decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.20% of the company's stock.

Charles River Associates Stock Up 0.2%

Charles River Associates stock opened at $187.37 on Tuesday. Charles River Associates has a 12-month low of $133.54 and a 12-month high of $214.01. The business's 50-day moving average price is $182.11 and its two-hundred day moving average price is $182.40. The stock has a market cap of $1.28 billion, a PE ratio of 25.29, a P/E/G ratio of 1.46 and a beta of 0.93.

Charles River Associates (NASDAQ:CRAI - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The business services provider reported $2.22 earnings per share for the quarter, beating analysts' consensus estimates of $1.93 by $0.29. The company had revenue of $181.85 million for the quarter, compared to the consensus estimate of $176.63 million. Charles River Associates had a net margin of 7.31% and a return on equity of 25.88%. As a group, analysts expect that Charles River Associates will post 7.52 earnings per share for the current year.

Charles River Associates Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Tuesday, May 27th were paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date was Tuesday, May 27th. Charles River Associates's payout ratio is 26.45%.

Analyst Ratings Changes

CRAI has been the topic of a number of recent analyst reports. Barrington Research lifted their price objective on shares of Charles River Associates from $224.00 to $228.00 and gave the company an "outperform" rating in a research note on Wednesday, May 21st. Wall Street Zen downgraded Charles River Associates from a "buy" rating to a "hold" rating in a report on Saturday, June 21st.

Charles River Associates Profile

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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