Key Points
- Major shareholder Jesse Crawford sold 1 million Crawford & Company shares at an average price of $12.81, generating $12.81 million. The sale reduced Crawford’s stake by 18.36% to 4,447,188 shares.
- Crawford & Company reported quarterly EPS of $0.38, exceeding analysts’ $0.27 estimate, although revenue of $321.44 million fell short of the $336.09 million consensus forecast.
- Shares opened at $12.27, near their 52-week high of $12.65, while Zacks Research upgraded the stock to “strong buy”; MarketBeat lists a consensus “strong buy” rating.
Crawford & Company (NYSE:CRD.B - Get Free Report) major shareholder Jesse Crawford sold 1,000,000 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $12.81, for a total value of $12,810,000.00. Following the completion of the sale, the insider owned 4,447,188 shares of the company's stock, valued at $56,968,478.28. This represents a 18.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.
Crawford & Company Price Performance
Shares of NYSE:CRD.B opened at $12.27 on Wednesday. Crawford & Company has a 1-year low of $8.78 and a 1-year high of $12.65. The firm has a market capitalization of $596.49 million, a PE ratio of 25.57 and a beta of 0.60. The business's 50 day moving average is $10.55 and its 200-day moving average is $10.26. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.82.
Crawford & Company (NYSE:CRD.B - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The business services provider reported $0.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.11. The business had revenue of $321.44 million for the quarter, compared to analysts' expectations of $336.09 million. Crawford & Company had a return on equity of 28.15% and a net margin of 1.81%. Sell-side analysts predict that Crawford & Company will post 1.05 earnings per share for the current year.
Analysts Set New Price Targets
Separately, Zacks Research upgraded shares of Crawford & Company from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Strong Buy".
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About Crawford & Company
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Crawford & Company (NYSE: CRD.B) is an independent provider of claims management and risk solutions to insurance carriers and self-insured entities worldwide. The company's services span property and casualty claims adjusting, third-party administration, managed repair, catastrophe response, and risk consulting. Through its network of professionals, Crawford & Company assists clients in streamlining claims processes, controlling costs, and improving customer satisfaction across diverse lines of business.
Founded in 1941 by James O.
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