Crawford & Company (NYSE:CRD.B) Stock Breaks Below 50-Day Moving Average - Here's What Happened

Key Points

• Crawford & Company shares fell below their 50-day moving average of $11.93, reaching a low of $10.97 and last trading at $11.098.
• Zacks Research downgraded the stock from “strong buy” to “hold”; the analyst consensus is also Hold.
• Quarterly EPS of $0.37 beat the $0.30 estimate, while revenue of $321.63 million came in below the $325.39 million forecast. Insiders sold about 1.02 million shares over the quarter.

Crawford & Company (NYSE:CRD.B - Get Free Report) shares crossed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $11.93 and traded as low as $10.97. Crawford & Company shares last traded at $11.0980, with a volume of 18,999 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Zacks Research downgraded shares of Crawford & Company from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 5th. One equities research analyst has rated the stock with a Hold rating. According to data from MarketBeat, Crawford & Company currently has an average rating of "Hold".

Crawford & Company Stock Performance

The company has a market capitalization of $539.47 million, a price-to-earnings ratio of 20.55 and a beta of 0.69. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.19 and a current ratio of 1.19. The firm has a 50-day simple moving average of $11.93 and a two-hundred day simple moving average of $10.77.

Crawford & Company (NYSE:CRD.B - Get Free Report) last issued its quarterly earnings results on Monday, November 2nd. The business services provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.07. The business had revenue of $321.63 million for the quarter, compared to analysts' expectations of $325.39 million. Crawford & Company had a net margin of 2.01% and a return on equity of 29.46%. On average, sell-side analysts anticipate that Crawford & Company will post 1.05 EPS for the current fiscal year.

Insider Buying and Selling

In other Crawford & Company news, EVP Andrew Bart sold 3,305 shares of the firm's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $13.36, for a total value of $44,154.80. Following the completion of the transaction, the executive vice president owned 86,395 shares of the company's stock, valued at $1,154,237.20. This trade represents a 3.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Jesse C. Crawford sold 1,000,000 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $12.81, for a total transaction of $12,810,000.00. Following the completion of the transaction, the insider directly owned 4,447,188 shares of the company's stock, valued at $56,968,478.28. This represents a 18.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 1,020,093 shares of company stock worth $13,075,773. 51.04% of the stock is owned by company insiders.

Crawford & Company Company Profile

Crawford & Company NYSE: CRD.B is a global provider of claims management and related outsourcing services for the insurance industry. The company works with insurers, brokers, corporations and government entities to manage property and casualty claims throughout the claims life cycle.

Its services include loss adjusting, claims administration, catastrophe response, third-party claims management, workers' compensation services, medical management and related consulting and technology solutions.

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