CorVel (NASDAQ:CRVL) Share Price Passes Below 200 Day Moving Average – Here’s Why

Shares of CorVel Corp. (NASDAQ:CRVL) 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 trading hands.

Analysts Set New Price Targets

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

CorVel Price Performance

The company’s 50 day moving average price is $54.92 and its 200 day moving average price is $66.65. The firm has a market capitalization of $2.77 billion, a P/E ratio of 26.58 and a beta of 1.10.

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

Insider Buying and Selling

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

Hedge Funds Weigh In On CorVel

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in CorVel by 1.4% in the third quarter. Vanguard Group Inc. now owns 3,287,788 shares of the business services provider’s stock worth $254,541,000 after purchasing an additional 45,071 shares during the period. State Street Corp lifted its position in CorVel by 2.7% during the 4th quarter. State Street Corp now owns 1,179,572 shares of the business services provider’s stock valued at $79,822,000 after purchasing an additional 30,987 shares during the period. Geode Capital Management LLC boosted its stake in shares of CorVel by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 927,845 shares of the business services provider’s stock valued at $62,796,000 after purchasing an additional 28,666 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of CorVel by 14.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 458,326 shares of the business services provider’s stock valued at $35,484,000 after purchasing an additional 58,323 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of CorVel during the 4th quarter worth approximately $29,250,000. 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).