CorVel (NASDAQ:CRVL) Hits New 52-Week High at $296.63

CorVel Co. (NASDAQ:CRVL) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $296.63 and last traded at $295.00, with a volume of 8234 shares changing hands. The stock had previously closed at $285.92.

Wall Street Analyst Weigh In

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

CorVel Trading Up 3.4 %

The stock’s fifty day moving average price is $257.26 and its 200 day moving average price is $247.42. The stock has a market cap of $5.08 billion, a P/E ratio of 64.98 and a beta of 1.08.

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

Insider Transactions at CorVel

In related news, Chairman V Gordon Clemons sold 2,000 shares of the 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 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 available through the SEC website. In other CorVel news, Chairman V Gordon Clemons sold 2,000 shares of the 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 completion of the sale, the chairman now owns 266,584 shares of the company’s stock, valued at approximately $73,843,768. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Corstar Holdings Inc sold 18,460 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $269.14, for a total transaction of $4,968,324.40. Following the sale, the insider now directly owns 6,291,498 shares of the company’s stock, valued at approximately $1,693,293,771.72. The disclosure for this sale can be found here. Insiders have sold 58,738 shares of company stock valued at $15,532,417 in the last quarter. Insiders own 47.57% of the company’s stock.

Institutional Investors Weigh In On CorVel

Several institutional investors and hedge funds have recently modified their holdings of the stock. Boston Trust Walden Corp lifted its position in shares of CorVel by 1.0% in the 4th quarter. Boston Trust Walden Corp now owns 280,702 shares of the business services provider’s stock worth $69,392,000 after purchasing an additional 2,675 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of CorVel by 41.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 115,876 shares of the business services provider’s stock worth $29,464,000 after purchasing an additional 34,155 shares during the period. Norges Bank purchased a new stake in shares of CorVel in the 4th quarter worth about $19,974,000. Charles Schwab Investment Management Inc. lifted its position in shares of CorVel by 3.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 73,569 shares of the business services provider’s stock worth $18,187,000 after purchasing an additional 2,252 shares during the period. Finally, Janus Henderson Group PLC lifted its position in shares of CorVel by 997.8% in the 1st quarter. Janus Henderson Group PLC now owns 46,975 shares of the business services provider’s stock worth $12,351,000 after purchasing an additional 42,696 shares during the period. 51.36% of the stock is owned by hedge funds and other institutional investors.

About CorVel

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.