CorVel (NASDAQ:CRVL) Hits New 52-Week High - Time to Buy?

Key Points

• CorVel shares reached a new 52-week high of $83.59 and were last trading at $83.15, up 3.9% from the previous close. The company has a $4.28 billion market capitalization and trades at a price-to-earnings ratio of 37.28.
• CorVel reported quarterly revenue of $259.93 million and earnings of $0.63 per share, alongside a 29.92% return on equity and an 11.72% net margin.
• Analyst sentiment remains neutral, with the sole analyst rating the stock “Hold.” Insiders sold 8,947 shares worth approximately $630,420 over the past quarter, while institutional investors and hedge funds own 51.36% of the company.

CorVel Corp. (NASDAQ:CRVL - Get Free Report)'s share price hit a new 52-week high during trading on Thursday. The company traded as high as $83.59 and last traded at $83.15, with a volume of 26,991 shares. The stock had previously closed at $80.71.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of CorVel from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, September 1st. One investment analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, CorVel currently has a consensus rating of "Hold".

CorVel Stock Up 3.9%

The business has a 50-day moving average price of $72.56 and a 200-day moving average price of $64.16. The firm has a market capitalization of $4.28 billion, a price-to-earnings ratio of 37.28 and a beta of 1.05.

CorVel (NASDAQ:CRVL - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The business services provider reported $0.63 earnings per share for the quarter. CorVel had a return on equity of 29.92% and a net margin of 11.72%. The firm had revenue of $259.93 million during the quarter.

Insider Transactions at CorVel

In other news, Director R. Jessup sold 4,023 shares of the business's stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $70.07, for a total transaction of $281,891.61. Following the sale, the director owned 111,798 shares in the company, valued at approximately $7,833,685.86. The trade was a 3.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jennifer Yoss sold 2,100 shares of the company's stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $70.92, for a total transaction of $148,932.00. Following the transaction, the vice president owned 2,173 shares in the company, valued at approximately $154,109.16. This trade represents a 49.15% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 8,947 shares of company stock valued at $630,420. 39.72% of the stock is currently owned by company insiders.

Institutional Trading of CorVel

Institutional investors have recently bought and sold shares of the stock. WINTON GROUP Ltd raised its holdings in shares of CorVel by 0.7% in the second quarter. WINTON GROUP Ltd now owns 22,772 shares of the business services provider's stock worth $1,424,000 after buying an additional 165 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of CorVel by 18.9% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,228 shares of the business services provider's stock valued at $77,000 after acquiring an additional 195 shares during the period. GAMMA Investing LLC raised its stake in CorVel by 9.3% in the 3rd quarter. GAMMA Investing LLC now owns 2,556 shares of the business services provider's stock worth $191,000 after acquiring an additional 218 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in CorVel by 66.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 574 shares of the business services provider's stock worth $39,000 after acquiring an additional 230 shares during the period. Finally, Empowered Funds LLC lifted its position in CorVel by 1.5% during the 1st quarter. Empowered Funds LLC now owns 15,815 shares of the business services provider's stock worth $864,000 after acquiring an additional 239 shares during the period. 51.36% of the stock is currently owned by institutional investors and hedge funds.

CorVel Company Profile

CorVel Corporation is a technology-enabled provider of workers' compensation, auto liability, liability, and health care management services. The company helps employers, insurance carriers, government agencies, and third-party administrators manage claims, control medical costs, and coordinate care.

Its services include claims administration, medical bill review, utilization and clinical review, case management, pharmacy benefit management, provider networks, and other managed-care solutions.

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