CorVel (NASDAQ:CRVL) Reaches New 52-Week High at $323.34

CorVel Co. (NASDAQ:CRVL) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $323.34 and last traded at $321.60, with a volume of 2884 shares. The stock had previously closed at $320.00.

Analyst Ratings Changes

Separately, StockNews.com raised shares of CorVel from a “hold” rating to a “buy” rating in a report on Friday, August 23rd.

CorVel Trading Up 0.3 %

The firm’s 50-day moving average price is $287.14 and its 200-day moving average price is $261.41. The stock has a market capitalization of $5.51 billion, a PE ratio of 72.73 and a beta of 1.08.

CorVel (NASDAQ:CRVL) last issued its quarterly earnings results on Tuesday, July 30th. The business services provider reported $1.25 EPS for the quarter. CorVel had a net margin of 9.55% and a return on equity of 33.26%. The company had revenue of $211.72 million for the quarter.

Insider Activity at CorVel

In other news, EVP Mark E. Bertels sold 200 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $231.14, for a total transaction of $46,228.00. Following the transaction, the executive vice president now owns 858 shares in the company, valued at $198,318.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Mark E. Bertels sold 200 shares of CorVel stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $231.14, for a total value of $46,228.00. Following the transaction, the executive vice president now owns 858 shares of the company’s stock, valued at approximately $198,318.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Jennifer Yoss sold 1,214 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $300.88, for a total value of $365,268.32. Following the sale, the vice president now owns 680 shares of the company’s stock, valued at approximately $204,598.40. The disclosure for this sale can be found here. Insiders sold 75,631 shares of company stock worth $20,705,425 in the last 90 days. 47.57% of the stock is owned by corporate insiders.

Institutional Trading of CorVel

Several hedge funds and other institutional investors have recently bought and sold shares of CRVL. Janus Henderson Group PLC grew its position in shares of 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 acquiring an additional 42,696 shares during the period. Quadrature Capital Ltd purchased a new position in CorVel during the fourth quarter worth about $887,000. SG Americas Securities LLC purchased a new stake in CorVel in the first quarter valued at approximately $896,000. Sei Investments Co. raised its holdings in shares of CorVel by 65.8% in the 1st quarter. Sei Investments Co. now owns 21,003 shares of the business services provider’s stock valued at $5,523,000 after buying an additional 8,338 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake 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.