CorVel (NASDAQ:CRVL) Reaches New 12-Month High – What’s Next?

Shares of CorVel Corp. (NASDAQ:CRVL) reached a new 52-week high during trading on Wednesday. The company traded as high as $79.43 and last traded at $78.9150, with a volume of 7,907 shares traded. The stock had previously closed at $77.92.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of CorVel from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, September 1st. One equities research analyst has rated the stock with a Hold rating. According to data from MarketBeat, the stock presently has an average rating of “Hold”.

CorVel Price Performance

The firm has a market cap of $4.03 billion, a price-to-earnings ratio of 35.19 and a beta of 1.05. The business has a fifty day simple moving average of $70.38 and a 200 day simple moving average of $63.05.

CorVel (NASDAQ:CRVL) last issued its quarterly earnings results on Tuesday, August 4th. The business services provider reported $0.63 earnings per share (EPS) for the quarter. CorVel had a return on equity of 29.92% and a net margin of 11.72%. The firm had revenue of $259.93 million for the quarter.

Insiders Place Their Bets

In other news, Director R. Jessup sold 4,023 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $70.07, for a total transaction of $281,891.61. Following the completion of the sale, the director owned 111,798 shares of the company’s stock, valued at $7,833,685.86. This represents a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jennifer Yoss sold 2,100 shares of the company’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $70.92, for a total transaction of $148,932.00. Following the sale, the vice president directly owned 2,173 shares of the company’s stock, valued at $154,109.16. The trade was a 49.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 8,947 shares of company stock worth $630,420 in the last 90 days. 39.72% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. WINTON GROUP Ltd increased its holdings in CorVel by 0.7% in the second quarter. WINTON GROUP Ltd now owns 22,772 shares of the business services provider’s stock valued at $1,424,000 after buying an additional 165 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in CorVel by 18.9% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,228 shares of the business services provider’s stock valued at $77,000 after acquiring an additional 195 shares in the last quarter. GAMMA Investing LLC raised its position in CorVel by 9.3% during the third quarter. GAMMA Investing LLC now owns 2,556 shares of the business services provider’s stock worth $191,000 after acquiring an additional 218 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of CorVel by 66.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 574 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 230 shares in the last quarter. Finally, Empowered Funds LLC grew its position in shares of CorVel by 1.5% in the first quarter. Empowered Funds LLC now owns 15,815 shares of the business services provider’s stock valued at $864,000 after purchasing an additional 239 shares during the last quarter. 51.36% of the stock is owned by hedge funds and other institutional investors.

CorVel Company Profile

CorVel Corporation is a provider of technology-enabled risk management and healthcare administration services. The company helps employers, insurance carriers, third-party administrators and government entities manage workers’ compensation, auto and liability claims, with an emphasis on controlling costs, coordinating care and improving claim outcomes.

Its services include claims administration, medical bill review, utilization review, case management, pharmacy benefit management, provider-network services and managed-care solutions.