CorVel (NASDAQ:CRVL) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

CorVel Corp. (NASDAQ:CRVL)’s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $82.95 and traded as low as $68.47. CorVel shares last traded at $68.60, with a volume of 107,658 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Wall Street Zen cut shares of CorVel from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CorVel in a research report on Tuesday, October 14th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, CorVel currently has an average rating of “Hold”.

CorVel Price Performance

The business’s 50-day moving average price is $72.44 and its 200 day moving average price is $82.95. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of 33.79 and a beta of 1.09.

CorVel (NASDAQ:CRVL) last issued its quarterly earnings data on Tuesday, November 4th. The business services provider reported $0.54 EPS for the quarter. The firm had revenue of $239.64 million for the quarter. CorVel had a net margin of 11.28% and a return on equity of 31.72%.

Insider Transactions at CorVel

In other news, EVP Mark E. Bertels sold 1,200 shares of the stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $72.35, for a total transaction of $86,820.00. Following the completion of the transaction, the executive vice president directly owned 2,594 shares in the company, valued at approximately $187,675.90. This represents a 31.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director R Judd Jessup sold 7,076 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $76.94, for a total transaction of $544,427.44. Following the sale, the director directly owned 115,045 shares of the company’s stock, valued at $8,851,562.30. The trade was a 5.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 11,733 shares of company stock valued at $894,686 in the last three months. 44.56% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Tudor Investment Corp ET AL increased its position in shares of CorVel by 17.8% in the 3rd quarter. Tudor Investment Corp ET AL now owns 114,116 shares of the business services provider’s stock worth $8,835,000 after purchasing an additional 17,233 shares during the last quarter. CIBC Bancorp USA Inc. bought a new stake in CorVel in the third quarter valued at about $240,000. CANADA LIFE ASSURANCE Co increased its holdings in CorVel by 13.5% in the third quarter. CANADA LIFE ASSURANCE Co now owns 26,453 shares of the business services provider’s stock valued at $2,041,000 after buying an additional 3,148 shares during the last quarter. Voleon Capital Management LP raised its stake in CorVel by 832.1% during the third quarter. Voleon Capital Management LP now owns 22,584 shares of the business services provider’s stock valued at $1,748,000 after buying an additional 20,161 shares in the last quarter. Finally, Voloridge Investment Management LLC lifted its holdings in CorVel by 100.5% during the 3rd quarter. Voloridge Investment Management LLC now owns 112,181 shares of the business services provider’s stock worth $8,685,000 after buying an additional 56,220 shares during the last quarter. 51.36% of the stock is currently owned by institutional investors.

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).