CorVel (NASDAQ:CRVL) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

CorVel Co. (NASDAQ:CRVL) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded CorVel from a “hold” rating to a “buy” rating in a research report on Thursday.

CorVel Price Performance

The company has a 50 day moving average price of $123.22 and a 200 day moving average price of $106.59. The firm has a market cap of $1.97 billion, a PE ratio of 24.41 and a beta of 1.14.

Insiders Place Their Bets

In other CorVel news, EVP Mark E. Bertels sold 1,050 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was 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 approximately $307,321. The trade was a 28.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 47.57% of the stock is owned by insiders.

Institutional Trading of CorVel

A number of institutional investors have recently modified their holdings of CRVL. Blue Trust Inc. lifted its holdings in CorVel by 435.3% in the third quarter. Blue Trust Inc. now owns 91 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 74 shares during the period. GAMMA Investing LLC increased its holdings in shares of CorVel by 61.9% in the 3rd quarter. GAMMA Investing LLC now owns 157 shares of the business services provider’s stock valued at $51,000 after purchasing an additional 60 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of CorVel by 121.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 204 shares of the business services provider’s stock valued at $67,000 after purchasing an additional 112 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of CorVel in the third quarter valued at about $88,000. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in CorVel during the third quarter worth about $102,000. 51.36% of the stock is currently owned by hedge funds and other institutional investors.

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.