CorVel (NASDAQ:CRVL) Share Price Crosses Below 200-Day Moving Average – What’s Next?

CorVel Corp. (NASDAQ:CRVL)’s stock price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $66.65 and traded as low as $53.09. CorVel shares last traded at $54.22, with a volume of 212,502 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of CorVel in a research note on Friday, January 9th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold”.

CorVel Stock Performance

The company has a 50-day moving average of $54.92 and a 200 day moving average of $66.65. The firm has a market cap of $2.77 billion, a P/E ratio of 26.58 and a beta of 1.10.

CorVel (NASDAQ:CRVL) last announced its quarterly earnings results on Tuesday, February 3rd. The business services provider reported $0.47 earnings per share for the quarter. CorVel had a return on equity of 30.15% and a net margin of 11.23%.The firm had revenue of $235.63 million for the quarter.

Insider Buying and Selling at CorVel

In other news, insider Maxim Shishin sold 2,400 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $54.00, for a total value of $129,600.00. Following the sale, the insider owned 7,050 shares of the company’s stock, valued at approximately $380,700. This represents a 25.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 44.56% of the company’s stock.

Hedge Funds Weigh In On CorVel

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its stake in CorVel by 12.5% during the first quarter. Royal Bank of Canada now owns 51,261 shares of the business services provider’s stock worth $5,739,000 after buying an additional 5,703 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of CorVel by 4.0% in the first quarter. AQR Capital Management LLC now owns 26,468 shares of the business services provider’s stock valued at $2,964,000 after acquiring an additional 1,013 shares during the last quarter. Integrated Wealth Concepts LLC raised its stake in shares of CorVel by 11.4% in the first quarter. Integrated Wealth Concepts LLC now owns 3,800 shares of the business services provider’s stock valued at $425,000 after acquiring an additional 389 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of CorVel by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,846 shares of the business services provider’s stock worth $1,774,000 after acquiring an additional 702 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of CorVel by 127.4% in the 1st quarter. Millennium Management LLC now owns 48,182 shares of the business services provider’s stock worth $5,395,000 after acquiring an additional 26,990 shares in the last quarter. 51.36% of the stock is currently owned by institutional investors and hedge funds.

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).