CorVel (NASDAQ:CRVL) Hits New 1-Year Low - What's Next?

Shares of CorVel Corp. (NASDAQ:CRVL - Get Free Report) hit a new 52-week low during trading on Thursday . The stock traded as low as $91.28 and last traded at $90.92, with a volume of 18245 shares trading hands. The stock had previously closed at $93.06.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised CorVel from a "hold" rating to a "buy" rating in a report on Friday, April 18th.

CorVel Stock Down 0.8%

The stock has a market capitalization of $4.53 billion, a price-to-earnings ratio of 47.95 and a beta of 0.98. The stock's 50-day simple moving average is $103.85 and its 200 day simple moving average is $109.17.

CorVel (NASDAQ:CRVL - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The business services provider reported $0.51 earnings per share for the quarter. CorVel had a return on equity of 32.55% and a net margin of 10.63%. The firm had revenue of $231.51 million during the quarter.

Insider Buying and Selling at CorVel

In related news, VP Jennifer Yoss sold 1,050 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $111.39, for a total value of $116,959.50. Following the completion of the sale, the vice president owned 2,088 shares of the company's stock, valued at $232,582.32. This trade represents a 33.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Maxim Shishin sold 2,400 shares of the company's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $108.09, for a total value of $259,416.00. Following the transaction, the insider directly owned 7,050 shares in the company, valued at approximately $762,034.50. This represents a 25.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,079 shares of company stock worth $1,446,023 over the last quarter. Corporate insiders own 44.56% of the company's stock.

Institutional Investors Weigh In On CorVel

A number of institutional investors and hedge funds have recently made changes to their positions in CRVL. Meeder Asset Management Inc. bought a new position in shares of CorVel in the 1st quarter valued at about $25,000. LGT Financial Advisors LLC lifted its holdings in CorVel by 200.0% in the fourth quarter. LGT Financial Advisors LLC now owns 255 shares of the business services provider's stock valued at $28,000 after buying an additional 170 shares during the period. von Borstel & Associates Inc. bought a new position in CorVel in the first quarter valued at approximately $28,000. Bessemer Group Inc. grew its holdings in CorVel by 6,350.0% during the 4th quarter. Bessemer Group Inc. now owns 258 shares of the business services provider's stock worth $29,000 after acquiring an additional 254 shares during the period. Finally, CIBC Private Wealth Group LLC raised its position in shares of CorVel by 300.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 480 shares of the business services provider's stock valued at $53,000 after acquiring an additional 360 shares during the last quarter. Institutional investors own 51.36% of the company's stock.

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.