CorVel (NASDAQ:CRVL) Share Price Passes Below 200-Day Moving Average - Here's What Happened

Key Points

• CorVel's stock fell below its 200-day moving average of $64.53, trading as low as $54.71 and last at $55.96 on a volume of 161,331 shares.
• Weiss Ratings downgraded CorVel from "hold (c-)" to "sell (d+)," and the company's average analyst rating on MarketBeat is "Sell."
• Insider Maxim Shishin sold 2,400 shares at an average price of $54 (a disclosed 25.4% reduction in his holding), while insiders collectively own 44.56% of the company.

CorVel Corp. (NASDAQ:CRVL - Get Free Report)'s stock price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $64.53 and traded as low as $54.71. CorVel shares last traded at $55.96, with a volume of 161,331 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings cut CorVel from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, April 6th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of "Sell".

CorVel Price Performance

The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of 27.43 and a beta of 1.05. The firm has a 50 day moving average price of $52.06 and a 200-day moving average price of $64.53.

CorVel (NASDAQ:CRVL - Get Free Report) last announced its quarterly earnings data on Tuesday, February 3rd. The business services provider reported $0.47 earnings per share (EPS) for the quarter. The business had revenue of $235.63 million for the quarter. CorVel had a return on equity of 30.15% and a net margin of 11.23%.

Insider Activity

In other news, insider Maxim Shishin sold 2,400 shares of the stock in a transaction 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 directly owned 7,050 shares in the company, valued at approximately $380,700. This trade represents a 25.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 44.56% of the company's stock.

Institutional Trading of CorVel

Several hedge funds have recently modified their holdings of the stock. Federated Hermes Inc. increased its holdings in CorVel by 147.4% in the third quarter. Federated Hermes Inc. now owns 381 shares of the business services provider's stock valued at $29,000 after buying an additional 227 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in CorVel in the third quarter valued at $31,000. Los Angeles Capital Management LLC purchased a new position in CorVel in the fourth quarter valued at $33,000. Eagle Bay Advisors LLC purchased a new position in CorVel in the fourth quarter valued at $37,000. Finally, Hantz Financial Services Inc. increased its holdings in CorVel by 61.3% in the third quarter. Hantz Financial Services Inc. now owns 500 shares of the business services provider's stock valued at $39,000 after buying an additional 190 shares during the last quarter. 51.36% of the stock is currently owned by institutional investors and hedge funds.

CorVel Company Profile

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).

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