CorVel (NASDAQ:CRVL) Stock Surpasses Two Hundred Day Moving Average – Key Insights

On Wednesday, shares of CorVel Co. (NASDAQ:CRVL) crossed above their two hundred day moving average during trading. This notable movement indicates a positive trend as the stock has a two hundred day moving average of $104.83, yet it reached a high of $347.45. The last trade for CorVel was at $347.45, with a trading volume of 23,165 shares.

Changes in Analyst Ratings

In recent news, StockNews.com downgraded CorVel from a "buy" rating to a "hold" rating in their report published on Saturday, August 31st.

CorVel's Recent Performance

CorVel's stock has increased by 2.7%, and it currently boasts a market capitalization of $5.95 billion. Additionally, the price-to-earnings ratio stands at 73.77, and the stock has a beta of 1.14. The 50 day simple moving average is $118.25, while the notable two hundred day average is $104.83.

Insider Transactions

In other developments, Executive Vice President Mark E. Bertels sold 1,050 shares of the company on Thursday, December 5th. The shares were sold at an average price of $119.12, amounting to a total of $125,072.50. After this sale, Bertels now holds 2,580 shares valued at approximately $307,321, which is a decrease of 28.93% in their holdings. The transaction was disclosed in a filing with the Securities and Exchange Commission, which can be viewed on its website. Currently, insiders hold about 47.57% of CorVel's stock.

Institutional Investor Activity

There have been several changes among institutional investors regarding their stakes in CorVel. For instance, Bank of New York Mellon Corp increased its holdings by 2.1% in the second quarter, now owning 73,617 shares worth approximately $18,719,000 after acquiring an additional 1,479 shares. Similarly, Zurcher Kantonalbank Zurich Cantonalbank raised its stake by 2.2%, holding 2,143 shares valued at $545,000 after buying 46 more shares in the last quarter. Other firms like Farther Finance Advisors LLC and Rhumbline Advisers also adjusted their positions, contributing to a current institutional ownership of 51.36% in CorVel stock.

Overview of CorVel Corporation

CorVel Corporation specializes in providing integrated solutions for workers’ compensation, auto, liability, and health management. The company employs advanced technologies, including artificial intelligence and machine learning, to manage episodes of care effectively and control associated healthcare expenses. Their services also encompass a variety of network solutions, such as automated medical fee auditing, preferred provider management, retrospective utilization reviews, and Medicare solutions.

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