CRA International, Inc. (NASDAQ:CRAI) has reported a significant stock transaction by a key executive. The company's EVP, CFO, and Treasurer, Daniel K. Mahoney, sold 1,000 shares of common stock at an average price of $174.01, totaling approximately $174,009 in value.
The transaction took place on May 21, 2024, and was disclosed in a recent filing with the Securities and Exchange Commission. The shares were sold in multiple transactions at prices ranging from $174.00 to $174.08. Following this sale, Mahoney's direct ownership in the company stands at 12,624 shares of common stock.
The sale was conducted under a Rule 10b5-1 trading plan, which allows company insiders to set up a predetermined plan to sell company stocks. The plan was adopted by Mahoney on November 28, 2023, indicating that the sale was planned and not based on any immediate knowledge of material non-public information.
Investors often monitor insider transactions as they can provide insights into an executive's view of the company's future prospects. However, it should be noted that such sales can also be motivated by personal financial management and diversification strategies.
CRA International, a global consulting firm headquartered in Boston, Massachusetts, has not released any official statement regarding this transaction. The company continues to operate its business as usual, serving clients across various industries with legal, regulatory, and business expertise.
InvestingPro Insights
As CRA International, Inc. (NASDAQ:CRAI) navigates through the financial landscape, certain metrics and recent activities provide a deeper understanding of its market position. With a market capitalization of approximately $1.18 billion, CRAI is a significant player in the consulting sector. The company's P/E ratio, sitting at 27.51, indicates a premium valuation compared to near-term earnings growth, as reflected by a PEG ratio of 3.13.
InvestingPro Tips reveal that CRAI has demonstrated a strong performance over various time frames, with a particularly robust return over the last three months, showing a 51.82% price total return. Moreover, the company has raised its dividend for 8 consecutive years, signaling a commitment to returning value to shareholders. This is further underscored by a 16.67% increase in dividend growth over the last twelve months as of Q1 2024.
While some analysts have revised their earnings expectations downwards for the upcoming period, it's noteworthy that the company is still predicted to be profitable this year, with a solid track record of profitability over the last twelve months. Investors considering CRAI for their portfolio can find additional insights and tips on InvestingPro, with PRONEWS24 offering an extra 10% off a yearly or biyearly Pro and Pro+ subscription. Currently, there are 12 additional InvestingPro Tips available, providing a comprehensive analysis of CRAI's financial health and market performance.
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