Crawford & Company (NYSE:CRD.B) Stock Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• Crawford & Company shares moved above their 200-day moving average of $10.56, reaching $11.65 before last trading at $11.4590.
• Zacks Research upgraded the stock from “Hold” to “Strong Buy,” and the company has a consensus “Strong Buy” rating. Its latest quarterly EPS of $0.38 exceeded analyst expectations of $0.27, although revenue fell short of estimates.
• Insiders sold more than 1.02 million shares worth approximately $13.1 million over the past 90 days, including a 1-million-share sale by major shareholder Jesse C. Crawford.

Crawford & Company (NYSE:CRD.B - Get Free Report) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $10.56 and traded as high as $11.65. Crawford & Company shares last traded at $11.4590, with a volume of 5,207 shares trading hands.

Analyst Ratings Changes

Separately, Zacks Research raised Crawford & Company from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Strong Buy".

Crawford & Company Stock Down 1.6%

The firm has a market capitalization of $557.02 million, a P/E ratio of 23.87 and a beta of 0.64. 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's 50-day moving average is $11.35 and its 200 day moving average is $10.56.

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

Insider Activity

In related news, major shareholder Jesse C. Crawford sold 1,000,000 shares of Crawford & Company stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $12.81, for a total value of $12,810,000.00. Following the sale, the insider owned 4,447,188 shares of the company's stock, valued at approximately $56,968,478.28. This trade represents a 18.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Andrew Bart sold 10,118 shares of Crawford & Company stock in a transaction that occurred 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 sale, the executive vice president directly owned 101,277 shares in the company, valued at approximately $1,333,818.09. This represents a 9.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,020,093 shares of company stock valued at $13,075,773 over the last ninety days. 51.04% of the stock is owned by 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 government entities with services that span the claims lifecycle, including loss adjusting, claims administration, third-party administration, and claims management technology.

Its offerings cover property and casualty claims, workers' compensation, automobile claims, transportation-related losses, specialty claims, and legal settlement services.

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