CorVel (NASDAQ:CRVL) Stock Price Crosses Below 200 Day Moving Average – What’s Next?

CorVel Corp. (NASDAQ:CRVL) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $60.51 and traded as low as $59.81. CorVel shares last traded at $59.88, with a volume of 153,628 shares trading hands.

Wall Street Analysts Forecast Growth

CRVL has been the subject of several research analyst reports. Weiss Ratings downgraded shares of CorVel from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, April 6th. Wall Street Zen upgraded shares of CorVel from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

CorVel Price Performance

The business’s 50 day moving average price is $57.73 and its 200-day moving average price is $60.36. The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of 28.57 and a beta of 0.99.

CorVel (NASDAQ:CRVL) last announced its quarterly earnings results on Tuesday, May 19th. The business services provider reported $0.61 earnings per share (EPS) for the quarter. The business had revenue of $248.55 million during the quarter. CorVel had a net margin of 11.51% and a return on equity of 29.92%.

Insider Buying and Selling

In related news, insider Maxim Shishin sold 2,400 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $54.00, for a total value of $129,600.00. Following the sale, the insider owned 7,050 shares in the company, valued at $380,700. This represents a 25.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Jennifer Yoss sold 1,999 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $61.02, for a total transaction of $121,978.98. Following the transaction, the vice president owned 2,173 shares of the company’s stock, valued at $132,596.46. This trade represents a 47.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 13,399 shares of company stock worth $800,399 in the last quarter. Company insiders own 44.56% of the company’s stock.

Hedge Funds Weigh In On CorVel

Several hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its stake in shares of CorVel by 15.6% during the 3rd quarter. Principal Financial Group Inc. now owns 162,111 shares of the business services provider’s stock worth $12,551,000 after purchasing an additional 21,827 shares during the last quarter. Argent Capital Management LLC purchased a new position in shares of CorVel during the 4th quarter worth about $1,800,000. Vanguard Group Inc. lifted its holdings in shares of CorVel by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,287,788 shares of the business services provider’s stock worth $254,541,000 after acquiring an additional 45,071 shares during the period. Algert Global LLC lifted its holdings in shares of CorVel by 73.4% during the 3rd quarter. Algert Global LLC now owns 217,559 shares of the business services provider’s stock worth $16,843,000 after acquiring an additional 92,077 shares during the period. Finally, Public Sector Pension Investment Board lifted its holdings in shares of CorVel by 31.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 122,098 shares of the business services provider’s stock worth $9,453,000 after acquiring an additional 29,320 shares during the period. 51.36% of the stock is currently owned by hedge funds and other institutional investors.

About CorVel

CorVel Corporation (NASDAQ: CRVL) is a technology-driven provider of workers’ compensation, liability, and specialty risk management solutions. The company develops and deploys software and data analytics tools to streamline claims administration, medical cost containment, prescription drug management, and provider network access. CorVel’s integrated platform connects employers, insurers, healthcare providers, and injured workers, aiming to improve outcomes and control costs through process automation and real-time decision support.

The company’s product suite includes claims lifecycle management, bill review and negotiation, virtual care and telehealth services, pharmacy benefit management, and independent medical examinations (IMEs).