Crawford & Company (NYSE:CRD.B) Shares Gap Down - What's Next?

Key Points

• Crawford & Company shares opened lower, falling from a prior close of $11.94 to $11.38 and last trading at $11.6950.
• Zacks Research downgraded the stock from “strong buy” to “hold,” matching the company’s overall analyst consensus rating of “Hold.”
• The company exceeded quarterly EPS expectations ($0.38 versus $0.27) but missed revenue estimates, while insiders sold more than 1.02 million shares worth approximately $13.1 million during the quarter.

Shares of Crawford & Company (NYSE:CRD.B - Get Free Report) gapped down before the market opened on Friday. The stock had previously closed at $11.94, but opened at $11.38. Crawford & Company shares last traded at $11.6950, with a volume of 219 shares traded.

Analyst Ratings Changes

Separately, Zacks Research cut Crawford & Company from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 5th. One analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, the company has a consensus rating of "Hold".

Crawford & Company Stock Down 1.9%

The stock has a 50 day moving average price of $12.03 and a 200 day moving average price of $10.87. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $568.69 million, a P/E ratio of 24.38 and a beta of 0.63.

Crawford & Company (NYSE:CRD.B - Get Free Report) last announced its earnings results on Monday, August 3rd. The business services provider reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.11. Crawford & Company had a return on equity of 28.15% and a net margin of 1.81%. The business had revenue of $321.44 million during the quarter, compared to analyst estimates of $336.09 million. On average, research analysts anticipate that Crawford & Company will post 1.05 earnings per share for the current fiscal year.

Insider Buying and Selling at Crawford & Company

In related news, EVP Andrew Bart sold 10,118 shares of the company's stock in a transaction on Friday, August 14th. The shares were sold at an average price of $13.17, for a total value of $133,254.06. Following the completion of the transaction, the executive vice president directly owned 101,277 shares in the company, valued at approximately $1,333,818.09. The trade was a 9.08% 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. Also, major shareholder Jesse C. Crawford sold 1,000,000 shares of the firm's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $12.81, for a total value of $12,810,000.00. Following the transaction, the insider directly owned 4,447,188 shares in the company, valued at $56,968,478.28. This trade represents a 18.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 1,020,093 shares of company stock valued at $13,075,773. 51.04% of the stock is owned by company insiders.

Crawford & Company Company Profile

Crawford & Company is a global provider of independent claims management and related services for the insurance and risk-management industries. The company supports insurers, brokers, corporations and public entities throughout the life cycle of a claim, from initial reporting and investigation through evaluation, settlement and resolution.

Its services include property and casualty claims adjusting, workers' compensation administration, liability and automobile claims handling, catastrophe response, loss adjusting and third-party administration.

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