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

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

Charles River Associates Stock Performance

Charles River Associates stock traded up $4.33 during mid-day trading on Tuesday, reaching $161.88. The stock had a trading volume of 217,884 shares, compared to its average volume of 166,021. Charles River Associates has a fifty-two week low of $149.96 and a fifty-two week high of $227.29. The firm has a market capitalization of $1.06 billion, a PE ratio of 19.91, a price-to-earnings-growth ratio of 1.14 and a beta of 0.92. The stock’s 50-day simple moving average is $172.61 and its 200-day simple moving average is $186.87.

Charles River Associates (NASDAQ:CRAI) last posted its quarterly earnings data on Thursday, February 26th. The business services provider reported $2.06 EPS for the quarter, beating the consensus estimate of $2.05 by $0.01. Charles River Associates had a net margin of 7.29% and a return on equity of 26.15%. The firm had revenue of $196.96 million during the quarter, compared to analyst estimates of $190.54 million. On average, research analysts forecast that Charles River Associates will post 7.52 earnings per share for the current fiscal year.

Charles River Associates Announces Dividend

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

Insider Buying and Selling at Charles River Associates

In other Charles River Associates news, EVP Jonathan D. Yellin sold 2,250 shares of the company’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $182.27, for a total transaction of $410,107.50. Following the sale, the executive vice president directly owned 14,046 shares of the company’s stock, valued at approximately $2,560,164.42. This represents a 13.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.20% of the company’s stock.

Institutional Trading of Charles River Associates

A number of institutional investors have recently modified their holdings of CRAI. Russell Investments Group Ltd. raised its holdings in shares of Charles River Associates by 8.2% during the fourth quarter. Russell Investments Group Ltd. now owns 4,180 shares of the business services provider’s stock valued at $839,000 after purchasing an additional 318 shares during the last quarter. Kennedy Capital Management LLC lifted its holdings in Charles River Associates by 1.2% in the 4th quarter. Kennedy Capital Management LLC now owns 6,489 shares of the business services provider’s stock worth $1,302,000 after purchasing an additional 79 shares in the last quarter. Entropy Technologies LP purchased a new stake in Charles River Associates in the 4th quarter worth $401,000. Arkadios Wealth Advisors raised its holdings in shares of Charles River Associates by 3.1% during the 4th quarter. Arkadios Wealth Advisors now owns 4,388 shares of the business services provider’s stock worth $881,000 after acquiring an additional 134 shares in the last quarter. Finally, New York State Common Retirement Fund grew its position in Charles River Associates by 25.0% in the fourth quarter. New York State Common Retirement Fund now owns 7,495 shares of the business services provider’s stock worth $1,504,000 after acquiring an additional 1,500 shares in the last quarter. 84.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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