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

Key Points

• CorVel Corp.'s stock hit a new **52-week low** at $71.68, closing at $72.15 with a trading volume of **14,662 shares**.
• Analysts have downgraded CorVel from a "buy" rating to a "**hold**" rating, with a consensus rating of "Hold" from various research reports.
• Insider transactions indicate a **significant decrease** in ownership for some executives, with the CFO selling shares at an average price of **$91.54**, reflecting concerns about the stock's performance.

Shares of CorVel Corp. (NASDAQ:CRVL - Get Free Report) hit a new 52-week low during trading on Friday . The stock traded as low as $71.68 and last traded at $72.15, with a volume of 14662 shares trading hands. The stock had previously closed at $73.14.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CRVL shares. Wall Street Zen downgraded shares of CorVel from a "buy" rating to a "hold" rating in a research report on Saturday, October 4th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of CorVel in a research note on Saturday, September 27th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, CorVel has a consensus rating of "Hold".

CorVel Stock Down 1.9%

The company has a market capitalization of $3.68 billion, a PE ratio of 36.99 and a beta of 0.95. The company's 50 day moving average is $84.23 and its two-hundred day moving average is $99.02.

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 for the quarter. CorVel had a net margin of 10.98% and a return on equity of 32.31%. The firm had revenue of $234.71 million for the quarter.

Insider Transactions at CorVel

In other news, CFO Brandon O'brien sold 1,764 shares of the business's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $91.54, for a total value of $161,476.56. Following the sale, the chief financial officer directly owned 8,948 shares in the company, valued at $819,099.92. The trade was a 16.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Maxim Shishin sold 12,000 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $89.16, for a total transaction of $1,069,920.00. Following the completion of the sale, the insider owned 7,050 shares in the company, valued at approximately $628,578. This trade represents a 62.99% 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 Trading of CorVel

A number of large investors have recently made changes to their positions in CRVL. Assenagon Asset Management S.A. boosted its stake in shares of CorVel by 68.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 172,932 shares of the business services provider's stock worth $13,388,000 after purchasing an additional 70,454 shares during the period. Texas Permanent School Fund Corp boosted its stake in shares of CorVel by 10.4% during the 2nd quarter. Texas Permanent School Fund Corp now owns 30,081 shares of the business services provider's stock worth $3,092,000 after purchasing an additional 2,830 shares during the period. Squarepoint Ops LLC boosted its stake in shares of CorVel by 96.4% during the 2nd quarter. Squarepoint Ops LLC now owns 41,380 shares of the business services provider's stock worth $4,253,000 after purchasing an additional 20,310 shares during the period. Thrivent Financial for Lutherans boosted its stake in shares of CorVel by 187.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 400,003 shares of the business services provider's stock worth $41,112,000 after purchasing an additional 261,049 shares during the period. Finally, State of Wyoming purchased a new position in shares of CorVel during the 2nd quarter worth about $297,000. 51.36% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.