CorVel (NASDAQ:CRVL) Hits New 52-Week High – Still a Buy?

CorVel Co. (NASDAQ:CRVL) reached a new 52-week high on Wednesday . The company traded as high as $333.14 and last traded at $333.14, with a volume of 4193 shares changing hands. The stock had previously closed at $316.25.

Wall Street Analyst Weigh In

Separately, StockNews.com cut CorVel from a “buy” rating to a “hold” rating in a report on Saturday, August 31st.

CorVel Price Performance

The stock has a market capitalization of $6.01 billion, a price-to-earnings ratio of 70.12 and a beta of 1.10. The firm has a 50 day simple moving average of $312.36 and a 200-day simple moving average of $284.30.

Insider Transactions at CorVel

In other CorVel news, insider Maxim Shishin sold 8,075 shares of CorVel stock in a transaction on Monday, August 12th. The stock was sold at an average price of $299.85, for a total value of $2,421,288.75. Following the completion of the transaction, the insider now owns 1,600 shares in the company, valued at approximately $479,760. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Mark E. Bertels sold 300 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $299.80, for a total transaction of $89,940.00. Following the completion of the sale, the executive vice president now owns 858 shares in the company, valued at $257,228.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Maxim Shishin sold 8,075 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $299.85, for a total transaction of $2,421,288.75. Following the transaction, the insider now owns 1,600 shares in the company, valued at approximately $479,760. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,479 shares of company stock valued at $4,978,650. Corporate insiders own 47.57% of the company’s stock.

Hedge Funds Weigh In On CorVel

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC lifted its holdings in shares of CorVel by 997.8% during the 1st quarter. Janus Henderson Group PLC now owns 46,975 shares of the business services provider’s stock valued at $12,351,000 after purchasing an additional 42,696 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of CorVel during the first quarter worth $896,000. Sei Investments Co. raised its holdings in shares of CorVel by 65.8% during the first quarter. Sei Investments Co. now owns 21,003 shares of the business services provider’s stock worth $5,523,000 after acquiring an additional 8,338 shares during the period. Assenagon Asset Management S.A. lifted its position in CorVel by 41.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 115,876 shares of the business services provider’s stock valued at $29,464,000 after acquiring an additional 34,155 shares in the last quarter. Finally, Quest Partners LLC lifted its position in CorVel by 184,200.0% in the 2nd quarter. Quest Partners LLC now owns 1,843 shares of the business services provider’s stock valued at $469,000 after acquiring an additional 1,842 shares in the last quarter. 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.