CorVel (NASDAQ:CRVL) Reaches New 52-Week Low – Here’s What Happened

CorVel Corp. (NASDAQ:CRVL) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $70.29 and last traded at $70.8150, with a volume of 24000 shares traded. The stock had previously closed at $71.44.

Analyst Ratings Changes

CRVL has been the topic of a number of recent analyst reports. Wall Street Zen lowered CorVel from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings reissued a “hold (c)” rating on shares of CorVel in a report on Tuesday, October 14th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

CorVel Stock Performance

The firm has a 50 day moving average of $74.11 and a 200-day moving average of $88.36. The stock has a market capitalization of $3.64 billion, a PE ratio of 34.98 and a beta of 1.09.

CorVel (NASDAQ:CRVL) last issued its quarterly earnings data on Tuesday, November 4th. The business services provider reported $0.54 earnings per share for the quarter. CorVel had a net margin of 11.28% and a return on equity of 31.72%. The firm had revenue of $239.64 million for the quarter.

Insider Activity

In related news, Director R Judd Jessup sold 7,076 shares of the firm’s stock in a transaction 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 owned 115,045 shares of the company’s stock, valued at approximately $8,851,562.30. This trade represents a 5.79% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Mark E. Bertels sold 1,200 shares of the business’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $72.35, for a total transaction of $86,820.00. Following the completion of the sale, the executive vice president directly owned 2,594 shares in the company, valued at $187,675.90. This represents a 31.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 13,497 shares of company stock valued at $1,056,162 over the last three months. 44.56% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CRVL. LPL Financial LLC raised its holdings in shares of CorVel by 5.0% in the 1st quarter. LPL Financial LLC now owns 11,351 shares of the business services provider’s stock valued at $1,271,000 after purchasing an additional 544 shares during the period. XTX Topco Ltd bought a new stake in CorVel in the 1st quarter valued at about $454,000. Natixis Advisors LLC grew its position in shares of CorVel by 7.5% during the 1st quarter. Natixis Advisors LLC now owns 15,523 shares of the business services provider’s stock worth $1,738,000 after purchasing an additional 1,086 shares in the last quarter. Cynosure Group LLC raised its position in shares of CorVel by 20.2% in the first quarter. Cynosure Group LLC now owns 3,176 shares of the business services provider’s stock valued at $356,000 after buying an additional 533 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in CorVel during the first quarter worth approximately $522,000. 51.36% of the stock is currently owned by 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.