CorVel (NASDAQ:CRVL) Hits New 12-Month Low - What's Next?

Key Points

• CorVel Corp. shares have reached a new 52-week low of $70.47, with trading volumes of over 67,000 shares as recent investor sentiment declines.
• Following the stock's downturn, Wall Street Zen upgraded CorVel from a "hold" to a "buy" rating, while Weiss Ratings maintained a "hold (c)" rating, reflecting mixed analyst opinions.
• Insider transactions indicate a significant decrease in ownership, with executive sales totaling over $1.2 million, indicating potential concerns about the company's future performance.

CorVel Corp. (NASDAQ:CRVL - Get Free Report) shares reached a new 52-week low on Thursday . The stock traded as low as $70.47 and last traded at $70.54, with a volume of 67832 shares. The stock had previously closed at $71.80.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CRVL shares. Wall Street Zen raised shares of CorVel from a "hold" rating to a "buy" rating in a research report on Sunday. Weiss Ratings reaffirmed a "hold (c)" rating on shares of CorVel in a research report on Tuesday. 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 business's 50 day simple moving average is $83.01 and its 200-day simple moving average is $97.93. The stock has a market capitalization of $3.62 billion, a price-to-earnings ratio of 36.38 and a beta of 0.95.

CorVel (NASDAQ:CRVL - Get Free Report) last posted its earnings results on Tuesday, August 5th. The business services provider reported $0.52 earnings per share (EPS) for the quarter. The firm 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 other news, insider Maxim Shishin sold 12,000 shares of the company's stock in a transaction that occurred on 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 completion of 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 SEC, which is accessible through this link. Also, CFO Brandon O'brien sold 1,764 shares of the company's stock in a transaction that occurred on Monday, September 8th. The stock was 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 of the company's stock, valued at approximately $819,099.92. This represents a 16.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 44.56% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. acquired a new position in CorVel in the first quarter worth approximately $25,000. von Borstel & Associates Inc. acquired a new position in CorVel in the first quarter worth approximately $28,000. Hantz Financial Services Inc. acquired a new position in CorVel in the second quarter worth approximately $32,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in CorVel in the second quarter worth approximately $37,000. Finally, Blue Trust Inc. grew its position in CorVel by 235.4% in the second quarter. Blue Trust Inc. now owns 550 shares of the business services provider's stock worth $57,000 after buying an additional 386 shares during the last quarter. Institutional investors and hedge funds 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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