CRA International, Inc. (NASDAQ:CRAI) Sees Significant Drop in Short Interest

CRA International, Inc. (NASDAQ:CRAI) was the recipient of a large decrease in short interest during the month of February. As of February 14th, there was short interest totalling 52,800 shares, a decrease of 32.4% from the January 30th total of 78,100 shares. Approximately 0.7% of the shares of the stock are short sold. Based on an average daily volume of 42,800 shares, the days-to-cover ratio is presently 1.2 days.

A number of analysts have issued reports on the company. ValuEngine downgraded CRA International from a “hold” rating to a “sell” rating in a research note on Monday, December 16th. Barrington Research reaffirmed a “buy” rating and issued a $59.00 target price on shares of CRA International in a research note on Wednesday, December 18th. William Blair reissued a “market perform” rating on shares of CRA International in a research report on Friday, November 1st. BidaskClub downgraded CRA International from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Zacks Investment Research downgraded CRA International from a “strong-buy” rating to a “hold” rating and set a $60.00 price objective for the company. in a research report on Thursday, January 2nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $59.50.

In other CRA International news, Director William F. Concannon sold 695 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $51.50, for a total value of $35,792.50. Following the completion of the sale, the director now directly owns 24,800 shares of the company’s stock, valued at approximately $1,277,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.70% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the stock. New York State Teachers Retirement System increased its position in shares of CRA International by 234.0% during the 4th quarter. New York State Teachers Retirement System now owns 2,338 shares of the business services provider’s stock worth $127,000 after purchasing an additional 1,638 shares during the last quarter. Metropolitan Life Insurance Co NY boosted its holdings in CRA International by 14.3% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 3,061 shares of the business services provider’s stock valued at $128,000 after acquiring an additional 382 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in CRA International by 5.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 3,961 shares of the business services provider’s stock valued at $166,000 after acquiring an additional 199 shares during the period. LSV Asset Management purchased a new position in CRA International during the 4th quarter valued at about $288,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in CRA International by 53.8% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,575 shares of the business services provider’s stock valued at $413,000 after acquiring an additional 2,650 shares during the period. 86.49% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:CRAI traded down $2.37 during midday trading on Wednesday, reaching $47.62. 30,800 shares of the company’s stock were exchanged, compared to its average volume of 34,734. The firm’s 50 day simple moving average is $54.04 and its two-hundred day simple moving average is $48.27. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market cap of $396.03 million, a price-to-earnings ratio of 17.43, a P/E/G ratio of 1.19 and a beta of 1.12. CRA International has a fifty-two week low of $34.24 and a fifty-two week high of $58.19.

About CRA International

CRA International, Inc, a consulting company, provides economic, financial, and management consulting services in the United States, the United Kingdom, and internationally. It advises clients on economic and financial matters pertaining to litigation and regulatory proceedings; and guides corporations through business strategy and performance-related issues.

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