CRA International Inc. (CRAI): Osmium Partners Lowers Its Stake

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According to a recent 13D filing with the US Securities and Exchange Commission, John H. Lewis  Osmium Partners owns 433,629 shares of CRA International, Inc. (NASDAQ:CRAI), which represent 4.9% of the company’s total amount of shares. This is 64,500 shares less than Osmium Partners held in January current year, as reported in a previous 13D filing. It was also revealed in the filing that Osmium Partners will continue to follow company’s moves and may enter into discussions with the management and propose some changes, while also reserving rights to buy, hold or sell more shares of the company.

 CRA International, Inc. (NASDAQ:CRAI) is a consulting firm that offers a variety of services covering the fields of management consulting, litigation, regulatory and financial consulting. Over the past 12 months, the company’s shares have lost 29.78%.

At the end of 2015, among the hedge funds tracked by Insider Monkey, 12 reported holding long positions including Osmium Partners with the biggest position. Other investors that were bullish on this stock are  Chuck Royce’s  Royce & Associates, which holds a $4.8 million position, and Jim Simons’s Renaissance Technologies, Paul Hondros’s AlphaOne Capital Partners and Cliff Asness’s AQR Capital Management.

On the other hand, investors who lost interest in this stock and sold off their shares are Matthew Hulsizer’s PEAK6 Capital Managemen, which dumped the biggest positions, worth about $0.6 million in stock, and  Chao Ku’s fund, Nine Chapters Capital Management, which dropped about $0.4 million worth of shares.

You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
John H. Lewis 0 433,629 0 433,629 433,629 4.9%
Osmium Partners 0 433,629 0 433,629 433,629 4.9%
Osmium Capital 0 162,561 0 162,561 162,561 1.8%
Osmium Capital II 0 103,366 0 103,366 103,366 1.2%
Osmium Spartan 0 66,700 0 66,700 66,700 0.8%
Osmium Diamond 0 101,002 0 101,002 101,002 1.1%

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Page 1 of 11 – SEC Filing

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

SCHEDULE 13D

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT

TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO

RULE 13d-2(a)

(Amendment No. 1)*

CRA
International, Inc.

(Name of Issuer)

Common Stock

(Title of
Class of Securities)

12618T105

(CUSIP Number)

Osmium
Partners, LLC

300 Drakes Landing Road, Suite 172

Greenbrae, CA 94904

Attention: John H. Lewis

Telephone: (415) 785-4044

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

April 18, 2016

(Date of
Event Which Requires Filing of this Statement)

If the filing
person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box  ¨.

Note. Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7(b)
for other parties to whom copies are to be sent.

* The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information
which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page
shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however,
see the Notes.)

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