Charles River Associates (NASDAQ:CRAI) Stock Crosses Above 200 Day Moving Average – Here’s Why

Shares of Charles River Associates (NASDAQ:CRAI) crossed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $159.02 and traded as high as $165.34. Charles River Associates shares last traded at $165.22, with a volume of 79,992 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Charles River Associates from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Charles River Associates presently has a consensus rating of “Moderate Buy” and a consensus target price of $245.00.

Charles River Associates Price Performance

The company has a market capitalization of $1.04 billion, a P/E ratio of 22.01, a PEG ratio of 1.22 and a beta of 0.65. The company has a 50 day moving average of $170.40 and a 200-day moving average of $159.02.

Charles River Associates (NASDAQ:CRAI) last released its quarterly earnings results on Thursday, August 6th. The business services provider reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.01. The business had revenue of $210.81 million during the quarter, compared to analyst estimates of $198.91 million. Charles River Associates had a return on equity of 27.31% and a net margin of 6.20%. Research analysts predict that Charles River Associates will post 8.43 EPS for the current fiscal year.

Charles River Associates Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 14th. Investors of record on Tuesday, August 25th were paid a $0.57 dividend. The ex-dividend date of this dividend was Tuesday, August 25th. This represents a $2.28 dividend on an annualized basis and a yield of 1.4%. Charles River Associates’s dividend payout ratio (DPR) is presently 30.36%.

Insider Buying and Selling

In related news, EVP Jonathan Yellin sold 2,250 shares of Charles River Associates stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $173.25, for a total value of $389,812.50. Following the sale, the executive vice president owned 11,153 shares in the company, valued at $1,932,257.25. The trade was a 16.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Allworth Financial LP purchased a new stake in shares of Charles River Associates in the 2nd quarter worth about $35,000. Quantbot Technologies LP purchased a new position in shares of Charles River Associates during the second quarter valued at about $53,000. Persistent Asset Partners Ltd bought a new position in Charles River Associates in the second quarter worth about $55,000. State of Wyoming bought a new position in Charles River Associates in the second quarter worth about $74,000. Finally, Global Retirement Partners LLC purchased a new stake in Charles River Associates in the second quarter worth about $77,000. 84.13% of the stock is currently owned by institutional investors.

Charles River Associates Company Profile

Charles River Associates (NASDAQ: CRAI) is a global consulting firm that provides economic, financial, and management consulting services to corporations, law firms, government agencies, and other organizations. The company supports clients on complex business, regulatory, legal, and strategic matters.

Its services include economic and competition analysis, antitrust and merger-related consulting, litigation support, regulatory and public policy advice, financial and valuation analysis, and business strategy.