CorVel (NASDAQ:CRVL) Stock Price Passes Below 200 Day Moving Average – Should You Sell?

Shares of CorVel Corp. (NASDAQ:CRVL) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $81.10 and traded as low as $69.84. CorVel shares last traded at $71.42, with a volume of 242,487 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CRVL. Wall Street Zen cut shares of CorVel from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of CorVel in a research report on Tuesday, October 14th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

CorVel Stock Performance

The firm’s 50 day moving average is $71.38 and its 200 day moving average is $81.10. The stock has a market cap of $3.66 billion, a P/E ratio of 35.18 and a beta of 1.07.

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

Insider Buying and Selling

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 transaction, the executive vice president owned 2,594 shares in the company, valued at $187,675.90. This trade represents a 31.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director R Judd Jessup sold 7,076 shares of the company’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $76.94, for a total transaction of $544,427.44. Following the transaction, the director owned 115,045 shares of the company’s stock, valued at approximately $8,851,562.30. This trade represents a 5.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 11,733 shares of company stock worth $894,686 in the last quarter. 44.56% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CorVel

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRVL. Federated Hermes Inc. increased its position in shares of CorVel by 147.4% in the 3rd quarter. Federated Hermes Inc. now owns 381 shares of the business services provider’s stock worth $29,000 after purchasing an additional 227 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in CorVel in the third quarter valued at about $31,000. Hantz Financial Services Inc. acquired a new stake in CorVel during the second quarter valued at approximately $32,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in CorVel during the second quarter valued at approximately $37,000. Finally, Quarry LP grew its position in shares of CorVel by 218.6% in the 3rd quarter. Quarry LP now owns 513 shares of the business services provider’s stock worth $40,000 after acquiring an additional 352 shares in the last quarter. 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).