CorVel (NASDAQ:CRVL) Shares Cross Above 200 Day Moving Average – What’s Next?

CorVel Co. (NASDAQ:CRVL) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $104.83 and traded as high as $347.45. CorVel shares last traded at $347.45, with a volume of 23,165 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut CorVel from a “buy” rating to a “hold” rating in a research report on Saturday, August 31st.

CorVel Price Performance

The stock has a market capitalization of $5.95 billion, a P/E ratio of 73.77 and a beta of 1.14. The company’s 50 day simple moving average is $118.25 and its two-hundred day simple moving average is $104.83.

Insider Buying and Selling

In related news, EVP Mark E. Bertels sold 1,050 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $119.12, for a total transaction of $125,072.50. Following the transaction, the executive vice president now owns 2,580 shares in the company, valued at $307,321. This represents a 28.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 47.57% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CorVel

Institutional investors and hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. boosted its position in shares of CorVel by 9.9% in the 3rd quarter. Franklin Resources Inc. now owns 1,917 shares of the business services provider’s stock worth $614,000 after purchasing an additional 173 shares during the last quarter. Sanctuary Advisors LLC boosted its holdings in CorVel by 4.6% during the third quarter. Sanctuary Advisors LLC now owns 2,848 shares of the business services provider’s stock worth $931,000 after buying an additional 124 shares during the last quarter. SkyView Investment Advisors LLC grew its position in shares of CorVel by 1.6% during the 3rd quarter. SkyView Investment Advisors LLC now owns 4,351 shares of the business services provider’s stock worth $1,422,000 after buying an additional 67 shares during the period. Geode Capital Management LLC increased its stake in shares of CorVel by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 253,870 shares of the business services provider’s stock valued at $83,000,000 after acquiring an additional 9,571 shares during the last quarter. Finally, Barclays PLC raised its position in shares of CorVel by 380.8% in the 3rd quarter. Barclays PLC now owns 15,977 shares of the business services provider’s stock valued at $5,223,000 after acquiring an additional 12,654 shares during the period. Institutional investors own 51.36% of the company’s stock.

CorVel Company Profile

CorVel Corporation provides workers’ compensation, auto, liability, and health solutions. It applies technology, including artificial intelligence, machine learning, and natural language processing to enhance the managing of episodes of care and the related health care costs. The company also offers network solutions services, including automated medical fee auditing, preferred provider management and reimbursement, retrospective utilization review, facility claim review, professional review, pharmacy, directed care, clearinghouse, independent medical examination, and inpatient medical bill review services, as well as Medicare solutions.