CorVel (NASDAQ:CRVL) Hits New 52-Week Low – Time to Sell?

CorVel Corp. (NASDAQ:CRVL)’s stock price hit a new 52-week low during trading on Friday . The stock traded as low as $65.95 and last traded at $65.9250, with a volume of 11636 shares trading hands. The stock had previously closed at $67.67.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CRVL shares. Wall Street Zen downgraded CorVel from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of CorVel in a research note on Tuesday, October 14th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold”.

CorVel Trading Down 2.4%

The firm has a fifty day simple moving average of $71.96 and a two-hundred day simple moving average of $82.48. The firm has a market cap of $3.39 billion, a PE ratio of 32.43 and a beta of 1.07.

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

Insider Activity at CorVel

In other CorVel news, EVP Mark E. Bertels sold 1,200 shares of the business’s stock in a transaction dated Wednesday, November 19th. The stock was 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. The trade was a 31.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value of $544,427.44. Following the completion of the transaction, the director directly owned 115,045 shares in the company, valued at approximately $8,851,562.30. This represents a 5.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 11,733 shares of company stock worth $894,686 in the last 90 days. 44.56% of the stock is currently owned by corporate insiders.

Institutional Trading of CorVel

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue grew its holdings in CorVel by 7.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 16,209 shares of the business services provider’s stock valued at $1,665,000 after purchasing an additional 1,126 shares in the last quarter. Norges Bank bought a new stake in CorVel in the 2nd quarter valued at about $34,418,000. Assenagon Asset Management S.A. boosted its position in shares of CorVel by 720.9% during the second quarter. Assenagon Asset Management S.A. now owns 102,478 shares of the business services provider’s stock worth $10,533,000 after buying an additional 89,994 shares during the period. AXQ Capital LP increased its holdings in shares of CorVel by 301.0% during the second quarter. AXQ Capital LP now owns 7,418 shares of the business services provider’s stock valued at $762,000 after purchasing an additional 5,568 shares during the period. Finally, Cerity Partners LLC increased its stake in shares of CorVel by 59.4% during the second quarter. Cerity Partners LLC now owns 128,640 shares of the business services provider’s stock valued at $13,222,000 after acquiring an additional 47,939 shares during the period. Hedge funds and other institutional investors own 51.36% of the company’s stock.

CorVel Company Profile

CorVel Corporation (NASDAQ: CRVL) is a technology-driven provider of workers’ compensation, liability, and specialty risk management solutions. The company develops and deploys software and data analytics tools to streamline claims administration, medical cost containment, prescription drug management, and provider network access. CorVel’s integrated platform connects employers, insurers, healthcare providers, and injured workers, aiming to improve outcomes and control costs through process automation and real-time decision support.

The company’s product suite includes claims lifecycle management, bill review and negotiation, virtual care and telehealth services, pharmacy benefit management, and independent medical examinations (IMEs).