CorVel (NASDAQ:CRVL) Shares Pass Above 200-Day Moving Average – Here’s Why

CorVel Corp. (NASDAQ:CRVL) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $58.80 and traded as high as $62.92. CorVel shares last traded at $62.08, with a volume of 149,384 shares trading hands.

Analyst Ratings Changes

CRVL has been the subject of several recent research reports. Wall Street Zen upgraded shares of CorVel from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Weiss Ratings restated a “sell (d+)” rating on shares of CorVel in a research report on Thursday, July 2nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

CorVel Stock Performance

The company has a market cap of $3.17 billion, a price-to-earnings ratio of 29.01 and a beta of 0.98. The company has a 50-day simple moving average of $60.56 and a 200-day simple moving average of $58.80.

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

Insiders Place Their Bets

In other CorVel news, VP Jennifer Yoss sold 1,999 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $61.02, for a total value of $121,978.98. Following the completion of the transaction, the vice president owned 2,173 shares in the company, valued at approximately $132,596.46. This represents a 47.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Maxim Shishin sold 2,250 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $60.59, for a total value of $136,327.50. Following the completion of the sale, the insider directly owned 7,050 shares of the company’s stock, valued at approximately $427,159.50. This trade represents a 24.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 13,249 shares of company stock worth $807,126. 39.72% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CorVel

A number of large investors have recently made changes to their positions in CRVL. Royal Bank of Canada lifted its stake in shares of CorVel by 12.5% in the first quarter. Royal Bank of Canada now owns 51,261 shares of the business services provider’s stock valued at $5,739,000 after purchasing an additional 5,703 shares during the period. AQR Capital Management LLC grew its position in CorVel by 4.0% during the first quarter. AQR Capital Management LLC now owns 26,468 shares of the business services provider’s stock worth $2,964,000 after buying an additional 1,013 shares during the period. Integrated Wealth Concepts LLC grew its position in CorVel by 11.4% during the first quarter. Integrated Wealth Concepts LLC now owns 3,800 shares of the business services provider’s stock worth $425,000 after buying an additional 389 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in CorVel by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,846 shares of the business services provider’s stock valued at $1,774,000 after buying an additional 702 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in CorVel by 127.4% in the first quarter. Millennium Management LLC now owns 48,182 shares of the business services provider’s stock valued at $5,395,000 after buying an additional 26,990 shares in the last quarter. Hedge funds and other institutional investors own 51.36% of the company’s stock.

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).