Short Interest in Charles River Associates (NASDAQ:CRAI) Expands By 24.5%

Key Points

• Short interest jumped 24.5% in March to 311,772 shares (about 5.0% of shares outstanding), leaving a short-interest ratio of roughly 1.6 days based on average daily volume.
• Charles River Associates slightly beat quarterly expectations with EPS of $2.06 and revenue of $196.96M, and Wall Street consensus still shows a $245 price target with a Buy rating.
• The company paid a quarterly dividend of $0.57 ($2.28 annualized, ~1.5% yield) and an EVP sold 2,250 shares in March; insiders own 4.7% while institutions hold about 84.1% of the stock.

Charles River Associates (NASDAQ:CRAI - Get Free Report) was the target of a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 311,772 shares, a growth of 24.5% from the February 26th total of 250,471 shares. Based on an average daily volume of 194,269 shares, the short-interest ratio is currently 1.6 days. Currently, 5.0% of the shares of the company are short sold.

Charles River Associates Stock Performance

Shares of NASDAQ CRAI traded up $1.43 during trading hours on Monday, reaching $154.59. 24,576 shares of the stock were exchanged, compared to its average volume of 161,727. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 19.01, a P/E/G ratio of 1.14 and a beta of 0.92. The stock's fifty day simple moving average is $173.68 and its 200 day simple moving average is $187.15. Charles River Associates has a 52 week low of $149.96 and a 52 week high of $227.29.

Charles River Associates (NASDAQ:CRAI - Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The business services provider reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.01. Charles River Associates had a return on equity of 26.15% and a net margin of 7.29%.The business had revenue of $196.96 million during the quarter, compared to the consensus estimate of $190.54 million. Research analysts predict that Charles River Associates will post 7.52 EPS for the current fiscal year.

Charles River Associates Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Tuesday, March 10th were given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, March 10th. Charles River Associates's payout ratio is presently 28.04%.

Insider Buying and Selling

In related news, EVP Jonathan D. Yellin sold 2,250 shares of Charles River Associates stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $182.27, for a total transaction of $410,107.50. Following the completion of the transaction, the executive vice president owned 14,046 shares in the company, valued at approximately $2,560,164.42. This trade represents a 13.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.70% of the company's stock.

Hedge Funds Weigh In On Charles River Associates

A number of hedge funds have recently bought and sold shares of CRAI. Jones Financial Companies Lllp acquired a new stake in Charles River Associates in the 1st quarter worth about $27,000. Longboard Asset Management LP bought a new position in shares of Charles River Associates during the third quarter worth approximately $217,000. Entropy Technologies LP bought a new position in shares of Charles River Associates during the fourth quarter worth approximately $401,000. Kennedy Capital Management LLC raised its position in shares of Charles River Associates by 9.3% in the second quarter. Kennedy Capital Management LLC now owns 3,910 shares of the business services provider's stock valued at $733,000 after buying an additional 333 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Charles River Associates by 8.2% in the fourth quarter. Russell Investments Group Ltd. now owns 4,180 shares of the business services provider's stock valued at $839,000 after buying an additional 318 shares in the last quarter. 84.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CRAI has been the subject of a number of recent analyst reports. Wall Street Zen cut Charles River Associates from a "buy" rating to a "hold" rating in a research report on Saturday, December 6th. Weiss Ratings restated a "buy (b)" rating on shares of Charles River Associates in a research note on Monday, December 29th. Finally, Barrington Research reaffirmed an "outperform" rating and set a $245.00 price objective on shares of Charles River Associates in a research report on Monday, March 2nd. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $245.00.

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.

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