CorVel (NASDAQ:CRVL) Sets New 52-Week Low – Here’s Why

CorVel Corp. (NASDAQ:CRVL) shares hit a new 52-week low on Tuesday . The company traded as low as $58.55 and last traded at $57.77, with a volume of 62717 shares changing hands. The stock had previously closed at $69.75.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CRVL shares. Wall Street Zen cut CorVel from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings restated a “hold (c)” rating on shares of CorVel in a research note on Friday, January 9th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

CorVel Price Performance

The firm’s fifty day simple moving average is $68.27 and its 200 day simple moving average is $76.59. The company has a market capitalization of $2.50 billion, a PE ratio of 23.89 and a beta of 1.06.

CorVel (NASDAQ:CRVL) last released its quarterly earnings data on Tuesday, February 3rd. The business services provider reported $0.47 earnings per share for the quarter. The business had revenue of $235.63 million during the quarter. CorVel had a return on equity of 30.15% and a net margin of 11.23%.

Insider Activity at CorVel

In other CorVel news, EVP Mark E. Bertels sold 1,200 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $72.35, for a total value of $86,820.00. Following the completion of the transaction, the executive vice president directly owned 2,594 shares of the company’s stock, valued at approximately $187,675.90. The trade was a 31.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director R Judd Jessup sold 7,076 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $76.94, for a total transaction of $544,427.44. Following the sale, the director directly owned 115,045 shares in the company, valued at $8,851,562.30. The trade was a 5.79% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 11,733 shares of company stock valued at $894,686. 44.56% of the stock is owned by company insiders.

Institutional Trading of CorVel

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRVL. Vanguard Group Inc. raised its position in shares of CorVel by 1.4% in the third quarter. Vanguard Group Inc. now owns 3,287,788 shares of the business services provider’s stock worth $254,541,000 after acquiring an additional 45,071 shares during the period. State Street Corp increased its stake in shares of CorVel by 1.9% in the 2nd quarter. State Street Corp now owns 1,093,710 shares of the business services provider’s stock valued at $112,412,000 after purchasing an additional 20,537 shares in the last quarter. Geode Capital Management LLC raised its holdings in CorVel by 5.3% in the 2nd quarter. Geode Capital Management LLC now owns 845,660 shares of the business services provider’s stock worth $86,925,000 after purchasing an additional 42,861 shares during the period. Thrivent Financial for Lutherans boosted its position in CorVel by 14.6% during the third quarter. Thrivent Financial for Lutherans now owns 458,326 shares of the business services provider’s stock worth $35,484,000 after purchasing an additional 58,323 shares in the last quarter. Finally, Norges Bank purchased a new position in CorVel during the second quarter worth approximately $34,418,000. Institutional investors and hedge funds own 51.36% of the company’s stock.

CorVel Company Profile

CorVel Corporation (NASDAQ: CRVL) is a technology-driven provider of workers’ compensation, liability, and specialty risk management solutions. The company develops and deploys software and data analytics tools to streamline claims administration, medical cost containment, prescription drug management, and provider network access. CorVel’s integrated platform connects employers, insurers, healthcare providers, and injured workers, aiming to improve outcomes and control costs through process automation and real-time decision support.

The company’s product suite includes claims lifecycle management, bill review and negotiation, virtual care and telehealth services, pharmacy benefit management, and independent medical examinations (IMEs).