CorVel (NASDAQ:CRVL) Share Price Passes Above Two Hundred Day Moving Average - Should You Sell?

CorVel Co. (NASDAQ:CRVL - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $110.93 and traded as high as $117.41. CorVel shares last traded at $116.37, with a volume of 97,333 shares trading hands.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of CorVel from a "buy" rating to a "hold" rating in a report on Friday, January 3rd.

CorVel Stock Performance

The stock has a market cap of $5.95 billion, a PE ratio of 73.79 and a beta of 1.15. The company has a 50 day moving average of $123.92 and a two-hundred day moving average of $111.38.

CorVel (NASDAQ:CRVL - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The business services provider reported $0.45 earnings per share for the quarter. CorVel had a net margin of 9.64% and a return on equity of 31.73%. The firm had revenue of $224.38 million for the quarter.

Insider Transactions at CorVel

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 value of $125,072.50. Following the completion of the sale, the executive vice president now owns 2,580 shares of the company's stock, valued at approximately $307,321. This represents a 28.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 47.57% of the company's stock.

Institutional Trading of CorVel

Several hedge funds have recently made changes to their positions in the company. New York State Common Retirement Fund increased its position in shares of CorVel by 200.0% during the 4th quarter. New York State Common Retirement Fund now owns 8,322 shares of the business services provider's stock worth $926,000 after purchasing an additional 5,548 shares during the last quarter. D.A. Davidson & CO. raised its stake in shares of CorVel by 200.0% in the 4th quarter. D.A. Davidson & CO. now owns 5,853 shares of the business services provider's stock valued at $657,000 after acquiring an additional 3,902 shares during the period. Sanctuary Advisors LLC lifted its holdings in shares of CorVel by 196.6% in the 4th quarter. Sanctuary Advisors LLC now owns 8,446 shares of the business services provider's stock worth $977,000 after acquiring an additional 5,598 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of CorVel by 210.2% during the 4th quarter. Principal Financial Group Inc. now owns 139,836 shares of the business services provider's stock worth $15,558,000 after purchasing an additional 94,751 shares during the period. Finally, State of New Jersey Common Pension Fund D boosted its position in shares of CorVel by 176.9% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 17,574 shares of the business services provider's stock worth $1,955,000 after purchasing an additional 11,228 shares during the period. Hedge funds and other institutional investors own 51.36% of the company's stock.

About CorVel

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.