CorVel (NASDAQ:CRVL) Hits New 12-Month Low - Here's What Happened

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

Analysts Set New Price Targets

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

CorVel Stock Performance

The firm has a market capitalization of $4.61 billion, a PE ratio of 48.76 and a beta of 0.98. The business's 50 day moving average price is $104.76 and its 200-day moving average price is $109.45.

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

Insider Activity at CorVel

In other news, Director Alan Hoops sold 3,000 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $113.05, for a total value of $339,150.00. Following the completion of the transaction, the director owned 16,688 shares in the company, valued at approximately $1,886,578.40. This represents a 15.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Jennifer Yoss sold 1,050 shares of the company's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $111.39, for a total transaction of $116,959.50. Following the completion of the transaction, the vice president owned 2,088 shares of the company's stock, valued at approximately $232,582.32. The trade was a 33.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,079 shares of company stock worth $1,446,023 over the last ninety days. 44.56% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CorVel

Large investors have recently bought and sold shares of the company. Meeder Asset Management Inc. purchased a new position in shares of CorVel in the 1st quarter valued at about $25,000. LGT Financial Advisors LLC boosted its stake in shares of CorVel by 200.0% during the 4th quarter. LGT Financial Advisors LLC now owns 255 shares of the business services provider's stock worth $28,000 after purchasing an additional 170 shares during the last quarter. von Borstel & Associates Inc. acquired a new stake in shares of CorVel during the 1st quarter worth about $28,000. Bessemer Group Inc. grew its holdings in CorVel by 6,350.0% in the fourth quarter. Bessemer Group Inc. now owns 258 shares of the business services provider's stock valued at $29,000 after purchasing an additional 254 shares during the period. Finally, CIBC Private Wealth Group LLC grew its holdings in CorVel by 300.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 480 shares of the business services provider's stock valued at $53,000 after purchasing an additional 360 shares during the period. Hedge funds and other 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.

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