CorVel (NASDAQ:CRVL) Hits New 12-Month High at $327.00

CorVel Co. (NASDAQ:CRVL)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $327.00 and last traded at $327.00, with a volume of 5854 shares. The stock had previously closed at $321.17.

Analyst Ratings Changes

Separately, StockNews.com cut shares of CorVel from a “buy” rating to a “hold” rating in a research note on Saturday, August 31st.

CorVel Price Performance

The company’s 50-day moving average is $308.59 and its two-hundred day moving average is $270.95. The company has a market cap of $5.54 billion, a P/E ratio of 73.45 and a beta of 1.08.

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

Insider Buying and Selling at CorVel

In other news, major shareholder Corstar Holdings Inc sold 10,649 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $261.36, for a total value of $2,783,222.64. Following the transaction, the insider now owns 6,333,387 shares of the company’s stock, valued at $1,655,294,026.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder Corstar Holdings Inc sold 10,649 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $261.36, for a total transaction of $2,783,222.64. Following the transaction, the insider now directly owns 6,333,387 shares in the company, valued at approximately $1,655,294,026.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael G. Combs sold 2,473 shares of CorVel stock in a transaction on Monday, August 12th. The stock was sold at an average price of $300.99, for a total value of $744,348.27. Following the sale, the chief executive officer now owns 16,823 shares of the company’s stock, valued at $5,063,554.77. The disclosure for this sale can be found here. Insiders have sold 72,431 shares of company stock valued at $19,961,847 over the last 90 days. 47.57% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Janus Henderson Group PLC increased its stake in CorVel by 997.8% during the 1st quarter. Janus Henderson Group PLC now owns 46,975 shares of the business services provider’s stock valued at $12,351,000 after purchasing an additional 42,696 shares in the last quarter. Quadrature Capital Ltd purchased a new position in CorVel in the 4th quarter worth $887,000. SG Americas Securities LLC acquired a new stake in CorVel during the 1st quarter worth about $896,000. Sei Investments Co. grew its stake in CorVel by 65.8% during the 1st quarter. Sei Investments Co. now owns 21,003 shares of the business services provider’s stock valued at $5,523,000 after purchasing an additional 8,338 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of CorVel by 41.8% in the second quarter. Assenagon Asset Management S.A. now owns 115,876 shares of the business services provider’s stock valued at $29,464,000 after purchasing an additional 34,155 shares during the period. 51.36% of the stock is owned by institutional investors and hedge funds.

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.