CorVel (NASDAQ:CRVL) Shares Cross Above 200-Day Moving Average – Should You Sell?

CorVel Co. (NASDAQ:CRVL)’s share price passed 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.

Wall Street Analysts Forecast Growth

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

CorVel Stock Down 0.7 %

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

Insider Transactions at CorVel

In related news, EVP Mark E. Bertels sold 1,050 shares of the business’s stock in a transaction on 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 directly owns 2,580 shares of the company’s stock, valued at $307,321. The trade was a 28.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 47.57% of the company’s stock.

Institutional Trading of CorVel

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC grew its stake in CorVel by 1.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,925,635 shares of the business services provider’s stock worth $489,631,000 after buying an additional 21,673 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of CorVel by 106.6% in the third quarter. JPMorgan Chase & Co. now owns 38,113 shares of the business services provider’s stock valued at $12,459,000 after acquiring an additional 19,667 shares during the period. Barclays PLC grew its position in shares of CorVel by 380.8% during the third quarter. Barclays PLC now owns 15,977 shares of the business services provider’s stock worth $5,223,000 after acquiring an additional 12,654 shares during the last quarter. Geode Capital Management LLC increased its holdings 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 period. Finally, Intech Investment Management LLC purchased a new stake in CorVel in the 3rd quarter valued at $2,797,000. Institutional investors and hedge funds 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.