CorVel (NASDAQ:CRVL) Sets New 12-Month Low – Here’s What Happened

CorVel Corp. (NASDAQ:CRVL)’s stock price reached a new 52-week low during trading on Monday . The company traded as low as $77.65 and last traded at $77.87, with a volume of 20188 shares changing hands. The stock had previously closed at $78.64.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of CorVel from a “hold” rating to a “buy” rating in a report on Friday.

CorVel Trading Down 1.6%

The firm has a market capitalization of $3.97 billion, a P/E ratio of 39.90 and a beta of 0.96. The company’s fifty day simple moving average is $87.11 and its 200 day simple moving average is $100.98.

CorVel (NASDAQ:CRVL) last issued its quarterly earnings data on Tuesday, August 5th. The business services provider reported $0.52 EPS for the quarter. CorVel had a net margin of 10.98% and a return on equity of 32.31%.

Insider Transactions at CorVel

In other news, CFO Brandon O’brien sold 1,764 shares of the company’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $91.54, for a total value of $161,476.56. Following the sale, the chief financial officer directly owned 8,948 shares of the company’s stock, valued at $819,099.92. This represents a 16.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Maxim Shishin sold 12,000 shares of the company’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $89.16, for a total transaction of $1,069,920.00. Following the completion of the sale, the insider directly owned 7,050 shares in the company, valued at $628,578. This represents a 62.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. 44.56% of the stock is owned by corporate insiders.

Institutional Trading of CorVel

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Xponance Inc. grew its holdings in shares of CorVel by 4.9% in the first quarter. Xponance Inc. now owns 2,008 shares of the business services provider’s stock valued at $225,000 after purchasing an additional 94 shares in the last quarter. Ballentine Partners LLC boosted its stake in CorVel by 4.2% during the first quarter. Ballentine Partners LLC now owns 2,531 shares of the business services provider’s stock worth $283,000 after buying an additional 102 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in CorVel by 0.7% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,961 shares of the business services provider’s stock worth $1,640,000 after buying an additional 115 shares during the period. The Manufacturers Life Insurance Company boosted its stake in CorVel by 0.9% during the second quarter. The Manufacturers Life Insurance Company now owns 15,918 shares of the business services provider’s stock worth $1,636,000 after buying an additional 139 shares during the period. Finally, Mayfair Advisory Group LLC boosted its stake in CorVel by 7.2% during the first quarter. Mayfair Advisory Group LLC now owns 2,212 shares of the business services provider’s stock worth $248,000 after buying an additional 148 shares during the period. 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.