CorVel (NASDAQ:CRVL) Sets New 52-Week Low - Here's Why

Key Points

• CorVel Corporation's stock (NASDAQ:CRVL) hit a new 52-week low at $84.33, with a recent decline attributed to a downgrade from "buy" to "hold" by Wall Street Zen.
• The company reported $0.52 earnings per share in its latest quarterly results, reflecting a net margin of 10.98% and return on equity of 32.31%.
• Significant insider trading occurred, including a 62.99% decrease in ownership by insider Maxim Shishin after selling 12,000 shares, raising concerns among investors.

CorVel Corp. (NASDAQ:CRVL - Get Free Report) shares reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $84.53 and last traded at $84.33, with a volume of 30240 shares traded. The stock had previously closed at $85.59.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered CorVel from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th.

CorVel Trading Down 4.2%

The firm has a fifty day simple moving average of $88.82 and a two-hundred day simple moving average of $101.98. The firm has a market cap of $4.08 billion, a PE ratio of 40.95 and a beta of 0.96.

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

Insider Buying and Selling

In other news, insider Maxim Shishin sold 12,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $89.16, for a total value of $1,069,920.00. Following the completion of the transaction, the insider owned 7,050 shares in the company, valued at $628,578. This trade represents a 62.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brandon O'brien sold 1,764 shares of the firm's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $91.54, for a total value of $161,476.56. Following the completion of the transaction, the chief financial officer owned 8,948 shares of the company's stock, valued at approximately $819,099.92. The trade was a 16.47% decrease in their position. The disclosure for this sale can be found here. Company insiders own 44.56% of the company's stock.

Institutional Inflows and Outflows

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