CorVel (NASDAQ:CRVL) Sets New 12-Month Low – Time to Sell?

CorVel Corp. (NASDAQ:CRVL)’s share price hit a new 52-week low during trading on Friday . The company traded as low as $71.68 and last traded at $72.15, with a volume of 14662 shares traded. The stock had previously closed at $73.14.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CRVL shares. Weiss Ratings restated a “hold (c+)” rating on shares of CorVel in a research report on Saturday, September 27th. Wall Street Zen upgraded shares of CorVel from a “hold” rating to a “buy” rating in a report on Sunday. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, CorVel presently has a consensus rating of “Hold”.

CorVel Stock Performance

The stock’s fifty day moving average price is $83.95 and its 200-day moving average price is $98.67. The firm has a market cap of $3.73 billion, a PE ratio of 37.45 and a beta of 0.95.

CorVel (NASDAQ:CRVL) last announced its quarterly earnings results on Tuesday, August 5th. The business services provider reported $0.52 earnings per share (EPS) for the quarter. The business had revenue of $234.71 million during the quarter. CorVel had a net margin of 10.98% and a return on equity of 32.31%.

Insider Transactions at CorVel

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

Institutional Investors Weigh In On CorVel

A number of hedge funds and other institutional investors have recently modified their holdings of CRVL. Norges Bank purchased a new stake in shares of CorVel during the second quarter worth about $34,418,000. Thrivent Financial for Lutherans grew its holdings in shares of CorVel by 187.9% during the second quarter. Thrivent Financial for Lutherans now owns 400,003 shares of the business services provider’s stock worth $41,112,000 after buying an additional 261,049 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings 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 in the last quarter. Cubist Systematic Strategies LLC grew its holdings in shares of CorVel by 249.0% during the second quarter. Cubist Systematic Strategies LLC now owns 117,395 shares of the business services provider’s stock worth $12,066,000 after buying an additional 83,757 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in shares of CorVel by 23,616.8% during the first quarter. Jones Financial Companies Lllp now owns 78,977 shares of the business services provider’s stock worth $8,843,000 after buying an additional 78,644 shares in the last quarter. 51.36% of the stock is currently 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.