Rice Hall James & Associates LLC Purchases New Shares in Charles River Associates $CRAI

Rice Hall James & Associates LLC purchased a new position in shares of Charles River Associates (NASDAQ:CRAI) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 77,762 shares of the business services provider’s stock, valued at approximately $11,066,000.

A number of other institutional investors have also recently added to or reduced their stakes in CRAI. Persistent Asset Partners Ltd purchased a new position in Charles River Associates in the 2nd quarter valued at about $55,000. Global Retirement Partners LLC purchased a new stake in shares of Charles River Associates during the second quarter worth about $77,000. Bank of New York Mellon Corp purchased a new stake in shares of Charles River Associates during the second quarter worth about $5,318,000. State of Wyoming acquired a new position in shares of Charles River Associates in the second quarter worth about $74,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Charles River Associates in the second quarter worth about $623,000. Institutional investors and hedge funds own 84.13% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Charles River Associates in a report on Friday, August 7th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Charles River Associates has a consensus rating of “Moderate Buy” and an average target price of $245.00.

Charles River Associates Trading Down 2.4%

Shares of NASDAQ:CRAI opened at $164.21 on Tuesday. The company has a fifty day simple moving average of $160.58 and a 200 day simple moving average of $159.90. The firm has a market cap of $1.03 billion, a PE ratio of 21.87, a price-to-earnings-growth ratio of 1.25 and a beta of 0.66. Charles River Associates has a 12-month low of $132.17 and a 12-month high of $227.29.

Charles River Associates (NASDAQ:CRAI) last posted its quarterly earnings results on Thursday, August 6th. The business services provider reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.01. Charles River Associates had a net margin of 6.20% and a return on equity of 27.31%. The firm had revenue of $210.81 million for the quarter, compared to analysts’ expectations of $198.91 million. As a group, equities research analysts forecast that Charles River Associates will post 8.42 EPS for the current fiscal year.

Charles River Associates Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Tuesday, August 25th will be paid a dividend of $0.57 per share. The ex-dividend date is Tuesday, August 25th. This represents a $2.28 annualized dividend and a yield of 1.4%. Charles River Associates’s dividend payout ratio is presently 30.36%.

Charles River Associates 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.