Jonathan D. Yellin, Executive Vice President and General Counsel of CRA International , Inc. (NASDAQ:CRAI), recently sold a significant portion of company stock. According to a filing with the Securities and Exchange Commission, Yellin sold a total of 1,250 shares on November 7, with the transactions occurring at prices ranging from $198.15 to $201.67 per share. The total value of these sales amounted to approximately $250,223. Following these transactions, Yellin now holds 19,111 shares in the company. These sales were executed under a pre-established Rule 10b5-1 trading plan.
In other recent news, Charles River Associates (CRA) announced a record third-quarter revenue of $167.7 million, a 13.7% increase year-over-year. This significant growth is complemented by improvements in consultant utilization and project lead flow, with profitability metrics such as non-GAAP net income, earnings per share, and EBITDA each growing over 50%. Despite a slight decrease in consultant headcount, the firm's management remains optimistic about future growth, particularly in legal and regulatory areas.
CRA has reaffirmed its fiscal 2024 revenue guidance of $670 million to $685 million and expects a non-GAAP EBITDA margin of 12.2% to 13.0%. The company has also announced a quarterly dividend increase from $0.42 to $0.49 per share. Seven of CRA's practices reported year-over-year revenue increases, with Antitrust & Competition Economics growing nearly 30% and legal and regulatory services seeing a nearly 20% revenue increase.
These developments underline the recent positive performance and growth trajectory of CRA. The company is well-prepared to adapt to potential changes in the regulatory environment and is confident in maintaining its guidance for the upcoming quarter. Despite an increase in Days Sales Outstanding (DSO) to 122 days, CRA's financial health remains strong, supported by increased dividends and a solid liquidity position.
InvestingPro Insights
The recent stock sale by CRA International's Executive Vice President and General Counsel comes at a time when the company's financial metrics and market performance are showing strong indicators. According to InvestingPro data, CRA International has a market capitalization of $1.36 billion and is trading at a P/E ratio of 32.29, suggesting investors are willing to pay a premium for the company's earnings.
CRA International's revenue growth is noteworthy, with a 10.74% increase over the last twelve months as of Q3 2024, reaching $672.59 million. This growth is complemented by a robust EBITDA growth of 15.59% over the same period, indicating improved operational efficiency.
InvestingPro Tips highlight that CRA International has raised its dividend for 9 consecutive years, which may be attractive to income-focused investors. The company's dividend yield stands at 0.97%, with an impressive dividend growth of 36.11% in the last twelve months.
The stock's performance has been particularly strong, with a 126.47% total return over the past year and a 105.07% return year-to-date. This aligns with the InvestingPro Tip noting the company's high return over the last year and decade.
While the stock is trading at a high P/E ratio relative to near-term earnings growth, with a PEG ratio of 1.31, it's worth noting that analysts predict the company will remain profitable this year. This profitability is supported by a gross profit margin of 29.67% and an operating income margin of 9.74%.
For investors seeking more comprehensive analysis, InvestingPro offers additional tips and insights. Currently, there are 11 more InvestingPro Tips available for CRA International, providing a deeper understanding of the company's financial health and market position.
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