CorVel (NASDAQ:CRVL) Reaches New 52-Week High – Still a Buy?

CorVel Co. (NASDAQ:CRVL)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $128.44 and last traded at $127.46, with a volume of 124812 shares traded. The stock had previously closed at $124.63.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of CorVel from a “buy” rating to a “hold” rating in a research note on Friday, January 3rd.

CorVel Trading Up 3.1 %

The business has a 50 day moving average of $123.67 and a 200-day moving average of $112.16. The stock has a market cap of $6.56 billion, a PE ratio of 81.87 and a beta of 1.16.

CorVel (NASDAQ:CRVL) last released its quarterly earnings results on Tuesday, February 4th. The business services provider reported $0.46 EPS for the quarter. CorVel had a net margin of 9.64% and a return on equity of 31.73%.

Insider Buying and Selling

In related news, EVP Mark E. Bertels sold 1,050 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $119.12, for a total value of $125,072.50. Following the completion of the sale, the executive vice president now owns 2,580 shares in the company, valued at $307,321. This trade represents a 28.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 47.57% of the company’s stock.

Hedge Funds Weigh In On CorVel

Large investors have recently modified their holdings of the business. Blue Trust Inc. grew its holdings in shares of CorVel by 435.3% in the 3rd quarter. Blue Trust Inc. now owns 91 shares of the business services provider’s stock worth $30,000 after acquiring an additional 74 shares during the period. Fifth Third Bancorp grew its holdings in CorVel by 45.9% in the fourth quarter. Fifth Third Bancorp now owns 321 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 101 shares during the last quarter. US Bancorp DE increased its position in shares of CorVel by 225.4% in the fourth quarter. US Bancorp DE now owns 384 shares of the business services provider’s stock valued at $43,000 after buying an additional 266 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of CorVel by 175.2% during the 4th quarter. GAMMA Investing LLC now owns 432 shares of the business services provider’s stock worth $48,000 after buying an additional 275 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its position in shares of CorVel by 216.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 532 shares of the business services provider’s stock worth $59,000 after buying an additional 364 shares in the last quarter. 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. 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.