CorVel (NASDAQ:CRVL) Reaches New 52-Week High at $324.93

CorVel Co. (NASDAQ:CRVL) shares hit a new 52-week high on Monday . The stock traded as high as $324.93 and last traded at $324.20, with a volume of 8967 shares. The stock had previously closed at $316.93.

Analyst Ratings Changes

Separately, StockNews.com cut shares of CorVel from a “buy” rating to a “hold” rating in a research report on Saturday, August 31st.

CorVel Trading Up 1.4 %

The company has a fifty day simple moving average of $299.55 and a two-hundred day simple moving average of $266.23. The company has a market cap of $5.52 billion, a PE ratio of 72.50 and a beta of 1.08.

CorVel (NASDAQ:CRVL) last posted its quarterly earnings results on Tuesday, July 30th. The business services provider reported $1.25 earnings per share for the quarter. The company had revenue of $211.72 million for the quarter. CorVel had a return on equity of 32.25% and a net margin of 9.55%.

Insider Activity

In other CorVel news, major shareholder Corstar Holdings Inc sold 10,649 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $261.36, for a total value of $2,783,222.64. Following the completion of the transaction, the insider now owns 6,333,387 shares in the company, valued at $1,655,294,026.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder Corstar Holdings Inc sold 10,649 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $261.36, for a total value of $2,783,222.64. Following the completion of the sale, the insider now directly owns 6,333,387 shares of the company’s stock, valued at $1,655,294,026.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Alan Hoops sold 1,700 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $300.00, for a total value of $510,000.00. Following the transaction, the director now directly owns 9,396 shares in the company, valued at approximately $2,818,800. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,431 shares of company stock worth $19,961,847. Corporate insiders own 47.57% of the company’s stock.

Hedge Funds Weigh In On CorVel

Institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in shares of CorVel by 98.0% in the second 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 in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of CorVel by 474.2% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the business services provider’s stock worth $47,000 after buying an additional 147 shares in the last quarter. Spire Wealth Management lifted its holdings in shares of 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 buying an additional 326 shares during the period. AXS Investments LLC purchased a new stake in shares of CorVel in the fourth quarter valued at approximately $189,000. Finally, Aristides Capital LLC purchased a new position in shares of CorVel in the 2nd quarter valued at about $210,000. 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.