CorVel (NASDAQ:CRVL) Sets New 12-Month High at $324.93

CorVel Co. (NASDAQ:CRVL) shares hit a new 52-week high during trading on Monday . The stock traded as high as $324.93 and last traded at $324.20, with a volume of 8967 shares. The stock had previously closed at $316.93.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered CorVel from a “buy” rating to a “hold” rating in a research report on Saturday, August 31st.

CorVel Trading Up 0.1 %

The firm has a market cap of $5.41 billion, a price-to-earnings ratio of 71.63 and a beta of 1.08. The stock has a 50-day moving average of $303.33 and a 200-day moving average of $267.64.

CorVel (NASDAQ:CRVL) last announced its earnings results on Tuesday, July 30th. The business services provider reported $1.25 earnings per share for the quarter. CorVel had a return on equity of 32.25% and a net margin of 9.55%. The firm had revenue of $211.72 million for the quarter.

Insider Transactions at CorVel

In other news, major shareholder Corstar Holdings Inc sold 23,429 shares of the business’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $264.90, for a total value of $6,206,342.10. Following the sale, the insider now owns 6,309,958 shares of the company’s stock, valued at approximately $1,671,507,874.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder Corstar Holdings Inc sold 23,429 shares of CorVel stock in a transaction on Friday, July 12th. The stock was sold at an average price of $264.90, for a total value of $6,206,342.10. Following the transaction, the insider now directly owns 6,309,958 shares in the company, valued at approximately $1,671,507,874.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director R Judd Jessup sold 2,500 shares of CorVel stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $311.60, for a total value of $779,000.00. Following the completion of the transaction, the director now owns 40,777 shares in the company, valued at $12,706,113.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,431 shares of company stock valued at $19,961,847. Corporate insiders own 47.57% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CRVL. Charles Schwab Investment Management Inc. grew its holdings in shares of CorVel by 3.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 73,569 shares of the business services provider’s stock valued at $18,187,000 after buying an additional 2,252 shares in the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in shares of CorVel during the 4th quarter worth about $264,000. Norges Bank acquired a new position in CorVel in the 4th quarter valued at approximately $19,974,000. Corient Private Wealth LLC raised its holdings in CorVel by 30.0% in the 4th quarter. Corient Private Wealth LLC now owns 2,321 shares of the business services provider’s stock valued at $574,000 after acquiring an additional 535 shares in the last quarter. Finally, AXS Investments LLC bought a new stake in shares of CorVel in the 4th quarter valued at approximately $189,000. 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.