CorVel (NASDAQ:CRVL) Reaches New 52-Week Low - Should You Sell?

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 $93.15 and last traded at $93.42, with a volume of 103592 shares. The stock had previously closed at $96.98.

Wall Street Analysts Forecast Growth

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

CorVel Stock Performance

The firm has a market capitalization of $4.81 billion, a P/E ratio of 50.87 and a beta of 0.98. The stock's 50 day simple moving average is $105.88 and its 200 day simple moving average is $109.78.

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

Insider Activity

In other CorVel news, Director R Judd Jessup sold 935 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $113.50, for a total value of $106,122.50. Following the completion of the sale, the director directly owned 129,519 shares in the company, valued at $14,700,406.50. This trade represents a 0.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alan Hoops sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $113.05, for a total transaction of $339,150.00. Following the completion of the sale, the director owned 16,688 shares of the company's stock, valued at approximately $1,886,578.40. This trade represents a 15.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,079 shares of company stock valued at $1,446,023. 44.56% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CRVL. Meeder Asset Management Inc. purchased a new position in shares of CorVel during the first quarter worth $25,000. LGT Financial Advisors LLC raised its holdings in shares of CorVel by 200.0% during the fourth 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. purchased a new position in shares of CorVel during the first quarter worth $28,000. Bessemer Group Inc. increased 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 buying an additional 254 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased 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 buying an additional 360 shares in the last quarter. Hedge funds and other 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.