CorVel (NASDAQ:CRVL) Shares Pass Above Two Hundred Day Moving Average - What's Next?

Key Points

• CorVel shares moved above their 200-day moving average during Tuesday’s trading, reaching as high as $62.92 before closing at $62.08. The move comes with the stock trading above both its 50-day and 200-day averages.
• Analyst sentiment remains cautious overall, with Weiss Ratings reiterating a “sell (d+)” and MarketBeat showing a consensus rating of “Sell.” However, Wall Street Zen recently upgraded the stock from “hold” to “buy.”
• The company reported solid quarterly results, posting EPS of $0.61 on revenue of $248.55 million, alongside a net margin of 11.51% and return on equity of 29.92%. Insiders have also been selling shares, while institutional investors continue to hold more than half the stock.

CorVel Corp. (NASDAQ:CRVL - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $58.80 and traded as high as $62.92. CorVel shares last traded at $62.08, with a volume of 149,384 shares.

Analysts Set New Price Targets

A number of research analysts have recently commented on CRVL shares. Weiss Ratings reiterated a "sell (d+)" rating on shares of CorVel in a report on Thursday, July 2nd. Wall Street Zen upgraded CorVel from a "hold" rating to a "buy" rating in a research note on Saturday, May 30th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of "Sell".

CorVel Stock Performance

The stock's 50-day moving average is $60.56 and its 200 day moving average is $58.80. The stock has a market capitalization of $3.17 billion, a PE ratio of 29.01 and a beta of 0.98.

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

Insider Transactions at CorVel

In related news, Director Jeffrey J. Michael sold 9,000 shares of the company's stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $60.98, for a total value of $548,820.00. Following the completion of the sale, the director directly owned 559,721 shares of the company's stock, valued at $34,131,786.58. This represents a 1.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jennifer Yoss sold 1,999 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $61.02, for a total value of $121,978.98. Following the transaction, the vice president owned 2,173 shares in the company, valued at $132,596.46. This represents a 47.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 13,249 shares of company stock worth $807,126. Corporate insiders own 39.72% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CRVL. Royal Bank of Canada grew its position in shares of CorVel by 12.5% during the first quarter. Royal Bank of Canada now owns 51,261 shares of the business services provider's stock worth $5,739,000 after acquiring an additional 5,703 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of CorVel by 4.0% in the 1st quarter. AQR Capital Management LLC now owns 26,468 shares of the business services provider's stock valued at $2,964,000 after acquiring an additional 1,013 shares during the period. Integrated Wealth Concepts LLC raised its position in CorVel by 11.4% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,800 shares of the business services provider's stock valued at $425,000 after purchasing an additional 389 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in CorVel by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,846 shares of the business services provider's stock valued at $1,774,000 after purchasing an additional 702 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in CorVel by 127.4% during the 1st quarter. Millennium Management LLC now owns 48,182 shares of the business services provider's stock worth $5,395,000 after purchasing an additional 26,990 shares during the period. Institutional investors and hedge funds own 51.36% of the company's stock.

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).

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