Charles River Associates (NASDAQ:CRAI) Short Interest Up 24.5% in March

Charles River Associates (NASDAQ:CRAI) was the recipient of a large growth in short interest in 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. Approximately 5.0% of the shares of the stock are sold short. Based on an average daily volume of 194,269 shares, the short-interest ratio is currently 1.6 days.

Charles River Associates Trading Up 1.2%

Shares of NASDAQ:CRAI traded up $2.01 during mid-day trading on Wednesday, reaching $163.89. The stock had a trading volume of 54,809 shares, compared to its average volume of 164,205. The business’s 50 day moving average price is $171.67 and its 200 day moving average price is $186.61. Charles River Associates has a 1 year low of $149.96 and a 1 year high of $227.29. The company has a market cap of $1.08 billion, a P/E ratio of 20.16, a price-to-earnings-growth ratio of 1.17 and a beta of 0.92.

Charles River Associates (NASDAQ:CRAI) last released its quarterly earnings data on Thursday, February 26th. The business services provider reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $190.54 million. Analysts predict that Charles River Associates will post 7.52 earnings per share for the current fiscal year.

Charles River Associates Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Tuesday, March 10th were issued a $0.57 dividend. The ex-dividend date was Tuesday, March 10th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.4%. Charles River Associates’s payout ratio is 28.04%.

Insider Buying and Selling at Charles River Associates

In related news, EVP Jonathan D. Yellin sold 2,250 shares of the company’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $182.27, for a total value of $410,107.50. Following the completion of the transaction, the executive vice president owned 14,046 shares of the company’s stock, valued at approximately $2,560,164.42. This represents a 13.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Charles River Associates

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets boosted its stake in Charles River Associates by 140.2% during the fourth quarter. BNP Paribas Financial Markets now owns 44,555 shares of the business services provider’s stock worth $8,942,000 after buying an additional 26,003 shares during the period. Jump Financial LLC increased its position in Charles River Associates by 72.3% during the 3rd quarter. Jump Financial LLC now owns 32,642 shares of the business services provider’s stock valued at $6,807,000 after purchasing an additional 13,692 shares during the period. Rhumbline Advisers raised its stake in Charles River Associates by 2.7% in the second quarter. Rhumbline Advisers now owns 13,049 shares of the business services provider’s stock worth $2,445,000 after buying an additional 343 shares in the last quarter. Quantbot Technologies LP increased its holdings in shares of Charles River Associates by 2.6% in the 3rd quarter. Quantbot Technologies LP now owns 7,675 shares of the business services provider’s stock valued at $1,600,000 after acquiring an additional 193 shares during the period. Finally, Lazard Asset Management LLC bought a new position in Charles River Associates in the second quarter worth about $1,424,000. Hedge funds and other institutional investors own 84.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Wall Street Zen lowered Charles River Associates from a “buy” rating to a “hold” rating in a research note on Saturday, December 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Charles River Associates in a report on Monday, December 29th. Finally, Barrington Research restated an “outperform” rating and issued a $245.00 price target on shares of Charles River Associates in a research note on Monday, March 2nd. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $245.00.

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.