CorVel (NASDAQ:CRVL) Reaches New 52-Week Low - What's Next?

Key Points

• CorVel Corp. (NASDAQ:CRVL) reached a new 52-week low of $85.49, dropping 3.1% in value, following a previous close of $88.34.
• Analysts at Wall Street Zen have upgraded CorVel's stock from a "hold" rating to a "buy" rating, suggesting positive sentiment towards the company.
• Insider transactions indicate significant selling activity, with key executives selling thousands of shares at prices higher than the current market value, raising concerns about confidence in the stock.

CorVel Corp. (NASDAQ:CRVL - Get Free Report)'s stock price reached a new 52-week low on Thursday . The stock traded as low as $85.51 and last traded at $85.49, with a volume of 66353 shares traded. The stock had previously closed at $88.34.

Analyst Upgrades and Downgrades

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

CorVel Price Performance

The stock has a market cap of $4.45 billion, a price-to-earnings ratio of 44.61 and a beta of 0.95. The business's fifty day simple moving average is $98.93 and its 200 day simple moving average is $107.63.

CorVel (NASDAQ:CRVL - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The business services provider reported $0.52 earnings per share for the quarter. CorVel had a net margin of 10.98% and a return on equity of 32.31%.

Insider Activity at CorVel

In other news, CFO Brandon O'brien sold 3,957 shares of the firm's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $108.46, for a total value of $429,176.22. Following the completion of the sale, the chief financial officer directly owned 11,804 shares in the company, valued at approximately $1,280,261.84. This trade represents a 25.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Jennifer Yoss sold 1,050 shares of the firm's stock in a transaction 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 approximately $232,582.32. This trade represents a 33.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,079 shares of company stock valued at $1,446,023. 44.56% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CorVel

Several institutional investors have recently modified their holdings of the business. Principal Financial Group Inc. grew its holdings in CorVel by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 143,654 shares of the business services provider's stock valued at $16,085,000 after buying an additional 3,818 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of CorVel by 44.7% during the 1st quarter. Farther Finance Advisors LLC now owns 816 shares of the business services provider's stock valued at $93,000 after acquiring an additional 252 shares during the period. GAMMA Investing LLC lifted its position in shares of CorVel by 58.6% during the 1st quarter. GAMMA Investing LLC now owns 685 shares of the business services provider's stock valued at $77,000 after acquiring an additional 253 shares during the period. KBC Group NV lifted its position in shares of CorVel by 35.1% during the 1st quarter. KBC Group NV now owns 1,564 shares of the business services provider's stock valued at $175,000 after acquiring an additional 406 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of CorVel by 3.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 14,345 shares of the business services provider's stock valued at $1,606,000 after acquiring an additional 461 shares during the period. Institutional investors own 51.36% of the company's stock.

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.