Crawford & Company (NYSE:CRD.B) Shares Gap Down – Here’s Why

Crawford & Company (NYSE:CRD.B) gapped down before the market opened on Wednesday. The stock had previously closed at $12.19, but opened at $11.01. Crawford & Company shares last traded at $11.0950, with a volume of 5,159 shares.

Wall Street Analyst Weigh In

Separately, Zacks Research cut shares of Crawford & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. One investment analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

Crawford & Company Trading Up 2.0%

The stock has a market cap of $543.70 million, a P/E ratio of 20.71 and a beta of 0.69. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.19 and a current ratio of 1.19. The firm’s fifty day simple moving average is $11.93 and its 200-day simple moving average is $10.77.

Crawford & Company (NYSE:CRD.B) last issued its quarterly earnings results on Monday, November 2nd. The business services provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.07. Crawford & Company had a return on equity of 29.46% and a net margin of 2.01%. The firm had revenue of $321.63 million for the quarter, compared to analyst estimates of $325.39 million. Equities research analysts expect that Crawford & Company will post 1.05 EPS for the current fiscal year.

Insider Activity at Crawford & Company

In related news, EVP Andrew Bart sold 10,118 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $13.17, for a total transaction of $133,254.06. Following the completion of the sale, the executive vice president owned 101,277 shares in the company, valued at approximately $1,333,818.09. This trade represents a 9.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Jesse C. Crawford sold 1,000,000 shares of Crawford & Company stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $12.81, for a total transaction of $12,810,000.00. Following the completion of the sale, the insider directly owned 4,447,188 shares in the company, valued at approximately $56,968,478.28. This represents a 18.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 1,020,093 shares of company stock valued at $13,075,773. 51.04% of the stock is currently owned by corporate insiders.

About Crawford & Company

Crawford & Company (NYSE: CRD.B) is a global provider of claims management and related outsourcing services for the insurance industry. The company works with insurers, brokers, corporations and government entities to manage property and casualty claims throughout the claims life cycle.

Its services include loss adjusting, claims administration, catastrophe response, third-party claims management, workers’ compensation services, medical management and related consulting and technology solutions.