CorVel (NASDAQ:CRVL) Sets New 12-Month High at $312.80

Shares of CorVel Co. (NASDAQ:CRVL) hit a new 52-week high during trading on Monday . The stock traded as high as $312.80 and last traded at $312.34, with a volume of 6999 shares trading hands. The stock had previously closed at $307.63.

Analyst Upgrades and Downgrades

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

CorVel Stock Performance

The stock has a market capitalization of $5.28 billion, a P/E ratio of 69.92 and a beta of 1.08. The company’s 50-day moving average price is $259.86 and its 200 day moving average price is $249.35.

CorVel (NASDAQ:CRVL) last announced its quarterly earnings data 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 Buying and Selling at CorVel

In other news, CFO Brandon O’brien sold 1,000 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $276.95, for a total value of $276,950.00. Following the sale, the chief financial officer now directly owns 7,305 shares in the company, valued at approximately $2,023,119.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other CorVel news, major shareholder Corstar Holdings Inc sold 18,460 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $269.14, for a total value of $4,968,324.40. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Brandon O’brien sold 1,000 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $276.95, for a total transaction of $276,950.00. Following the completion of the sale, the chief financial officer now directly owns 7,305 shares of the company’s stock, valued at $2,023,119.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 58,738 shares of company stock worth $15,532,417. Insiders own 47.57% of the company’s stock.

Institutional Investors Weigh In On CorVel

Several large investors have recently added to or reduced their stakes in CRVL. Quadrature Capital Ltd bought a new stake in shares of CorVel in the 4th quarter valued at about $887,000. SG Americas Securities LLC bought a new stake in shares of CorVel in the 1st quarter valued at about $896,000. Raymond James Financial Services Advisors Inc. raised its holdings in shares of CorVel by 77.9% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 10,876 shares of the business services provider’s stock valued at $2,689,000 after purchasing an additional 4,764 shares in the last quarter. 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 purchasing an additional 8,338 shares in the last quarter. Finally, Apollon Wealth Management LLC bought a new stake in shares of CorVel in the 4th quarter valued at about $459,000. 51.36% of the stock is owned by hedge funds and other 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.