CorVel (NASDAQ:CRVL) Sees Strong Trading Volume

Shares of CorVel Co. (NASDAQ:CRVL) saw an uptick in trading volume on Friday . 15,558 shares were traded during mid-day trading, a decline of 57% from the previous session’s volume of 36,306 shares.The stock last traded at $264.77 and had previously closed at $262.30.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of CorVel from a “buy” rating to a “hold” rating in a research report on Tuesday, June 25th.

CorVel Stock Up 1.7 %

The business’s 50 day simple moving average is $253.64 and its 200-day simple moving average is $245.81. The stock has a market capitalization of $4.58 billion, a price-to-earnings ratio of 59.61 and a beta of 1.08.

CorVel (NASDAQ:CRVL) last released its quarterly earnings results on Wednesday, May 22nd. The business services provider reported $1.12 earnings per share (EPS) for the quarter. CorVel had a net margin of 9.59% and a return on equity of 33.49%. The firm had revenue of $207.23 million during the quarter.

Insider Activity at CorVel

In related news, Chairman V Gordon Clemons sold 2,000 shares of CorVel stock in a transaction on Friday, May 24th. The shares were sold at an average price of $277.00, for a total value of $554,000.00. Following the completion of the sale, the chairman now owns 266,584 shares of the company’s stock, valued at approximately $73,843,768. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other CorVel news, Chairman V Gordon Clemons sold 2,000 shares of CorVel stock in a transaction on Friday, May 24th. The shares were sold at an average price of $277.00, for a total transaction of $554,000.00. Following the transaction, the chairman now directly owns 266,584 shares of the company’s stock, valued at approximately $73,843,768. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brandon O’brien sold 1,000 shares of CorVel stock in a transaction on Friday, May 24th. The stock was sold at an average price of $276.95, for a total transaction of $276,950.00. Following the transaction, the chief financial officer now directly owns 7,305 shares in the company, valued at $2,023,119.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,849 shares of company stock valued at $4,357,751. 47.57% of the stock is owned by company insiders.

Institutional Investors Weigh In On CorVel

A number of hedge funds have recently made changes to their positions in CRVL. GAMMA Investing LLC raised its stake in CorVel by 98.0% in the 2nd quarter. GAMMA Investing LLC now owns 97 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 48 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in CorVel by 474.2% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the business services provider’s stock valued at $47,000 after acquiring an additional 147 shares during the period. Spire Wealth Management raised its stake in CorVel by 815.0% in the 1st quarter. Spire Wealth Management now owns 366 shares of the business services provider’s stock valued at $96,000 after acquiring an additional 326 shares during the period. AXS Investments LLC bought a new stake in CorVel in the 4th quarter valued at about $189,000. Finally, O Shaughnessy Asset Management LLC raised its stake in CorVel by 20.4% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 1,043 shares of the business services provider’s stock valued at $274,000 after acquiring an additional 177 shares during the period. 51.36% of the stock is currently owned by institutional investors.

CorVel Company Profile

CorVel Corporation provides workers' compensation, auto, liability, and health solutions for employers, third party administrators, insurance companies, and government agencies to assist them in managing the medical costs and monitoring the quality of care associated with healthcare claims. 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.