Ranger Investment Management L.P. Makes New Investment in Charles River Associates $CRAI

Ranger Investment Management L.P. bought a new position in shares of Charles River Associates (NASDAQ:CRAI) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 66,182 shares of the business services provider’s stock, valued at approximately $15,009,000. Ranger Investment Management L.P. owned approximately 1.05% of Charles River Associates at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Charles River Associates in the second quarter valued at approximately $91,500,000. Bank of New York Mellon Corp acquired a new position in Charles River Associates during the 2nd quarter worth $69,054,000. Rice Hall James & Associates LLC bought a new position in Charles River Associates in the 2nd quarter valued at $11,066,000. SG Americas Securities LLC boosted its position in Charles River Associates by 86.6% in the 1st quarter. SG Americas Securities LLC now owns 105,339 shares of the business services provider’s stock valued at $17,052,000 after buying an additional 48,892 shares during the last quarter. Finally, Weber Capital Management LLC ADV acquired a new stake in shares of Charles River Associates in the 2nd quarter valued at $5,351,334,000. 84.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Charles River Associates in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Charles River Associates presently has an average rating of “Moderate Buy” and an average target price of $245.00.

Charles River Associates Stock Performance

NASDAQ:CRAI opened at $176.90 on Monday. Charles River Associates has a 1-year low of $132.17 and a 1-year high of $227.29. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 23.56, a PEG ratio of 1.31 and a beta of 0.66. The business’s 50-day moving average price is $162.52 and its two-hundred day moving average price is $159.54.

Charles River Associates (NASDAQ:CRAI) last posted its earnings results on Thursday, August 6th. The business services provider reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.01. The company 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%. Sell-side analysts predict that Charles River Associates will post 8.42 earnings per share for the current year.

Charles River Associates Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Tuesday, August 25th will be issued a $0.57 dividend. The ex-dividend date is Tuesday, August 25th. This represents a $2.28 annualized dividend and a yield of 1.3%. Charles River Associates’s dividend payout ratio (DPR) is 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.