CorVel (NASDAQ:CRVL) Stock Passes Above 200 Day Moving Average – Here’s What Happened

CorVel Corp. (NASDAQ:CRVL) shares crossed 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 changing hands.

Analyst Ratings Changes

Several research firms have recently commented on CRVL. Weiss Ratings reissued a “sell (d+)” rating on shares of CorVel in a report on Thursday, July 2nd. Wall Street Zen upgraded shares of CorVel from a “hold” rating to a “buy” rating in a report on Saturday, May 30th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

CorVel Stock Up 0.5%

The company has a market capitalization of $3.18 billion, a P/E ratio of 29.09 and a beta of 0.98. The business has a 50 day moving average of $60.70 and a 200 day moving average of $58.75.

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

Insider Activity at CorVel

In other CorVel news, VP Jennifer Yoss sold 1,999 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $61.02, for a total transaction of $121,978.98. Following the completion of the transaction, the vice president owned 2,173 shares in the company, valued at $132,596.46. This trade represents a 47.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey J. Michael sold 9,000 shares of CorVel stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $60.98, for a total transaction of $548,820.00. Following the completion of the transaction, the director directly owned 559,721 shares of the company’s stock, valued at $34,131,786.58. The trade was a 1.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 13,249 shares of company stock valued at $807,126 over the last 90 days. 39.72% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CorVel

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its position 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 valued at $5,739,000 after purchasing an additional 5,703 shares during the last quarter. AQR Capital Management LLC lifted its position in CorVel by 4.0% in 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 last quarter. Integrated Wealth Concepts LLC lifted its position in CorVel by 11.4% in 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake 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 buying an additional 702 shares during the period. Finally, Millennium Management LLC boosted its stake 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 buying an additional 26,990 shares during the period. 51.36% of the stock is currently owned by hedge funds and other institutional investors.

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).