CorVel (NASDAQ:CRVL) Hits New 1-Year High – What’s Next?

CorVel Corp. (NASDAQ:CRVL)’s stock price hit a new 52-week high during mid-day trading on Thursday. The stock traded as high as $83.59 and last traded at $83.15, with a volume of 26,991 shares. The stock had previously closed at $80.71.

Wall Street Analysts Forecast Growth

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

CorVel Trading Up 3.9%

The firm’s fifty day moving average price is $72.56 and its 200 day moving average price is $64.16. The firm has a market capitalization of $4.28 billion, a PE ratio of 37.28 and a beta of 1.05.

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

Insider Buying and Selling at CorVel

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

Institutional Trading of CorVel

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in CorVel during the second quarter valued at approximately $321,316,000. Bank of New York Mellon Corp purchased a new stake in CorVel in the 2nd quarter worth approximately $11,439,000. Algert Global LLC boosted its position in CorVel by 67.0% in the 2nd quarter. Algert Global LLC now owns 383,419 shares of the business services provider’s stock worth $23,971,000 after purchasing an additional 153,877 shares in the last quarter. Bank of America Corp DE purchased a new position in shares of CorVel during the 2nd quarter valued at approximately $8,073,000. Finally, Legal & General Group Plc purchased a new position in shares of CorVel during the 2nd quarter valued at approximately $4,263,000. 51.36% of the stock is owned by institutional investors and hedge funds.

CorVel Company Profile

CorVel Corporation is a technology-enabled provider of workers’ compensation, auto liability, liability, and health care management services. The company helps employers, insurance carriers, government agencies, and third-party administrators manage claims, control medical costs, and coordinate care.

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