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

CorVel Corp. (NASDAQ:CRVL) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $60.51 and traded as low as $59.81. CorVel shares last traded at $59.88, with a volume of 153,628 shares.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CRVL shares. Weiss Ratings cut CorVel from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, April 6th. Wall Street Zen raised CorVel from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, CorVel currently has a consensus rating of “Sell”.

CorVel Price Performance

The stock has a market capitalization of $3.04 billion, a P/E ratio of 27.98 and a beta of 0.99. The firm has a 50 day moving average of $57.44 and a 200-day moving average of $60.51.

CorVel (NASDAQ:CRVL) last issued its quarterly earnings results on Tuesday, May 19th. The business services provider reported $0.61 earnings per share (EPS) for the quarter. CorVel had a return on equity of 29.92% and a net margin of 11.51%.The firm had revenue of $248.55 million for the quarter.

Insider Activity

In related news, insider Maxim Shishin sold 2,400 shares of the business’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $54.00, for a total transaction of $129,600.00. Following the transaction, the insider directly owned 7,050 shares in the company, valued at $380,700. The trade was a 25.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Jennifer Yoss sold 1,999 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $61.02, for a total value of $121,978.98. Following the transaction, the vice president owned 2,173 shares in the company, valued at $132,596.46. This represents a 47.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 44.56% of the company’s stock.

Hedge Funds Weigh In On CorVel

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in shares of CorVel by 15.6% in the 3rd quarter. Principal Financial Group Inc. now owns 162,111 shares of the business services provider’s stock valued at $12,551,000 after purchasing an additional 21,827 shares during the period. Argent Capital Management LLC bought a new stake in shares of CorVel in the 4th quarter valued at approximately $1,800,000. Vanguard Group Inc. grew its stake in shares of CorVel by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 3,287,788 shares of the business services provider’s stock valued at $254,541,000 after purchasing an additional 45,071 shares during the period. Algert Global LLC grew its stake in shares of CorVel by 73.4% in the 3rd quarter. Algert Global LLC now owns 217,559 shares of the business services provider’s stock valued at $16,843,000 after purchasing an additional 92,077 shares during the period. Finally, Public Sector Pension Investment Board grew its stake in shares of CorVel by 31.6% in the 3rd quarter. Public Sector Pension Investment Board now owns 122,098 shares of the business services provider’s stock valued at $9,453,000 after purchasing an additional 29,320 shares during the period. 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).