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

CorVel Corp. (NASDAQ:CRVL) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $78.27 and traded as low as $69.88. CorVel shares last traded at $70.66, with a volume of 178,663 shares.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen lowered 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 note on Friday, January 9th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold”.

CorVel Price Performance

The firm’s fifty day simple moving average is $70.10 and its 200 day simple moving average is $78.27. The company has a market capitalization of $3.62 billion, a PE ratio of 34.81 and a beta of 1.07.

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

Insider Buying and Selling

In related news, EVP Mark E. Bertels sold 1,200 shares of the business’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $72.35, for a total value of $86,820.00. Following the completion of the transaction, the executive vice president directly owned 2,594 shares in the company, valued at $187,675.90. The trade was a 31.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director R Judd Jessup sold 7,076 shares of the stock in a transaction 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 in the company, valued at $8,851,562.30. This trade represents a 5.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 11,733 shares of company stock valued at $894,686 over the last three months. 44.56% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its stake in shares of CorVel by 12.5% during the 1st quarter. Royal Bank of Canada now owns 51,261 shares of the business services provider’s stock worth $5,739,000 after acquiring an additional 5,703 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of CorVel by 4.0% in the 1st quarter. AQR Capital Management LLC now owns 26,468 shares of the business services provider’s stock valued at $2,964,000 after purchasing an additional 1,013 shares in the last quarter. Integrated Wealth Concepts LLC raised its holdings in CorVel by 11.4% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,800 shares of the business services provider’s stock worth $425,000 after purchasing an additional 389 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in CorVel by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,846 shares of the business services provider’s stock worth $1,774,000 after purchasing an additional 702 shares in the last quarter. Finally, Millennium Management LLC boosted its position in CorVel by 127.4% during the first quarter. Millennium Management LLC now owns 48,182 shares of the business services provider’s stock worth $5,395,000 after purchasing an additional 26,990 shares in the last quarter. Hedge funds and other institutional investors 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).