CRA International, Inc. (NASDAQ:CRAI) has reported a recent transaction by one of its top executives. Jonathan D. Yellin, the company's Executive Vice President and General Counsel, sold a total of 1,250 shares of CRA International stock. The transactions took place on August 15, 2024, and were valued at nearly $200,000.
According to the filings, the shares were sold at weighted average prices, with the first batch of 450 shares going for an average of $157.6506 each, and the subsequent 800 shares sold at an average of $158.6013 per share. The sales were conducted in multiple transactions with prices ranging from $157.16 to $158.12 for the first lot, and between $158.15 to $159.115 for the second, as per the footnotes provided in the filing.
These sales were made as part of a pre-arranged trading plan under Rule 10b5-1, which allows company insiders to set up a predetermined plan for buying or selling stocks at a time when they are not in possession of material non-public information. This plan had been adopted by Yellin on November 28, 2023.
Following the transactions, Yellin still owns 20,361 shares of CRA International stock, indicating a continued vested interest in the company's performance. CRA International, headquartered in Boston, Massachusetts, specializes in legal services and is known for its consulting expertise.
Investors and interested parties can obtain full details regarding the number of shares sold at each separate price upon request to the issuer, any security holder, or the SEC staff, as mentioned in the footnotes of the SEC filing.
In other recent news, CRA International, a global consulting firm, reported a solid performance in the second quarter of fiscal 2024. The company saw a revenue increase of 5.9% year-over-year, reaching $171.4 million. This growth was fueled by significant contributions from various sectors, including Antitrust & Competition Economics, Financial Economics, Intellectual Property, Labor & Employment, and Life Sciences.
The company also experienced an 11% increase in project lead flow and an 18% rise in new project originations. Looking ahead, CRA International expects its full-year fiscal 2024 revenue to be between $670 million and $685 million, with a non-GAAP EBITDA margin of 12.2% to 13.0%.
Despite these positive developments, the company faced a slight decrease in consultant headcount by 0.3% YoY and a rise in non-GAAP selling, general, and administrative expenses to 16.4% of revenue. However, the company remains optimistic about its growth prospects across practices and geographies.
In terms of analyst notes, there were no upgrades or downgrades reported for CRA International. However, the company's CEO, Paul Maleh, expressed confidence in the company's diversified portfolio and its continued growth prospects. It's worth noting that these are recent developments and that the company's future performance may vary.
InvestingPro Insights
CRA International, Inc. (NASDAQ:CRAI) has not only been in the news for executive stock transactions but also exhibits a number of financial characteristics that may be of interest to investors. As of the last twelve months leading up to Q2 2024, CRA International has a market capitalization of $1.08 billion and a Price to Earnings (P/E) ratio of 27.54, which aligns with the company's earnings performance over that period.
InvestingPro Tips highlight that CRA International has been proactive in returning value to shareholders through both share repurchase and dividends. Management's aggressive share buybacks demonstrate confidence in the firm's value, while the consistent increase in dividends for 8 consecutive years underscores a commitment to shareholder returns. For investors looking for stable income, this dividend growth is a notable feature, with the dividend yield standing at 1.05%.
Moreover, the company has seen a substantial price increase over the past six months, with a 44.95% return, reflecting investor optimism. This is further supported by the fact that analysts have revised their earnings expectations upwards for the upcoming period, indicating potential for future growth.
In terms of profitability, CRA International has been profitable over the last year, and analysts predict it will remain so this year. However, the company is trading at a high Price to Book multiple of 5.67, which suggests that its market valuation is quite rich compared to the book value of its assets.
For those interested in a deeper dive into CRA International's financials and future outlook, InvestingPro provides additional insights, with a total of 11 more InvestingPro Tips available for review. These can offer a more comprehensive understanding of the company's financial health and projections, accessible at https://www.investing.com/pro/CRAI.
InvestingPro Data metrics also shed light on the company's recent performance. Revenue growth over the last twelve months has been positive at 7.26%, with a gross profit margin of 28.92%, indicating the company's efficiency in managing its cost of goods sold. The operating income margin of 8.88% also reflects a healthy operational profitability.
For those monitoring executive transactions, it's worth noting that the recent sale by Executive Vice President and General Counsel Jonathan D. Yellin might be balanced against these broader financial metrics and strategic actions by the company. With the next earnings date slated for October 31, 2024, investors will be watching closely to see how these financial indicators translate into actual performance.
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