CorVel (NASDAQ:CRVL) Sets New 52-Week High at $324.93

CorVel Co. (NASDAQ:CRVL) shares hit a new 52-week high on Monday . The stock traded as high as $324.93 and last traded at $324.20, with a volume of 8967 shares trading hands. The stock had previously closed at $316.93.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of CorVel from a “buy” rating to a “hold” rating in a report on Saturday, August 31st.

CorVel Stock Up 1.4 %

The stock has a fifty day moving average of $299.55 and a two-hundred day moving average of $266.23. The stock has a market cap of $5.52 billion, a price-to-earnings ratio of 72.50 and a beta of 1.08.

CorVel (NASDAQ:CRVL) last announced its quarterly earnings results on Tuesday, July 30th. The business services provider reported $1.25 earnings per share (EPS) for the quarter. The firm had revenue of $211.72 million during the quarter. CorVel had a return on equity of 32.25% and a net margin of 9.55%.

Insider Buying and Selling

In related news, CEO Michael G. Combs sold 2,473 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $300.99, for a total value of $744,348.27. Following the completion of the transaction, the chief executive officer now owns 16,823 shares in the company, valued at approximately $5,063,554.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other CorVel news, CFO Brandon O’brien sold 1,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $314.98, for a total value of $314,980.00. Following the transaction, the chief financial officer now owns 6,502 shares of the company’s stock, valued at $2,047,999.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael G. Combs sold 2,473 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $300.99, for a total value of $744,348.27. Following the sale, the chief executive officer now directly owns 16,823 shares of the company’s stock, valued at $5,063,554.77. The disclosure for this sale can be found here. Insiders sold a total of 72,431 shares of company stock worth $19,961,847 in the last three months. 47.57% of the stock is owned by insiders.

Institutional Investors Weigh In On CorVel

Several hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its position in CorVel by 3.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 73,569 shares of the business services provider’s stock worth $18,187,000 after acquiring an additional 2,252 shares during the period. Jump Financial LLC raised its position in CorVel by 1.9% in the 4th quarter. Jump Financial LLC now owns 3,058 shares of the business services provider’s stock valued at $756,000 after purchasing an additional 56 shares during the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in CorVel during the 4th quarter valued at about $264,000. Norges Bank bought a new position in CorVel in the fourth quarter valued at approximately $19,974,000. Finally, Corient Private Wealth LLC increased its holdings in CorVel by 30.0% in the fourth quarter. Corient Private Wealth LLC now owns 2,321 shares of the business services provider’s stock valued at $574,000 after purchasing an additional 535 shares during the last quarter. 51.36% of the stock is owned by hedge funds and other institutional investors.

CorVel Company Profile

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.