CorVel (NASDAQ:CRVL) Sets New 52-Week High – Here’s Why

by · The Markets Daily

CorVel Co. (NASDAQ:CRVL – Get Free Report)’s share price hit a new 52-week high on Tuesday . The company traded as high as $367.84 and last traded at $367.49, with a volume of 3711 shares trading hands. The stock had previously closed at $362.32.

Wall Street Analyst Weigh In

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

Read Our Latest Stock Report on CRVL

CorVel Stock Performance

The business’s 50 day moving average price is $315.34 and its two-hundred day moving average price is $287.63. The company has a market capitalization of $6.16 billion, a price-to-earnings ratio of 76.93 and a beta of 1.10.

Insider Activity at CorVel

In other news, CFO Brandon O’brien sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $314.98, for a total value of $314,980.00. Following the transaction, the chief financial officer now owns 6,502 shares in the company, valued at approximately $2,047,999.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director R Judd Jessup sold 2,500 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $311.60, for a total transaction of $779,000.00. Following the completion of the sale, the director now directly owns 40,777 shares in the company, valued at $12,706,113.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Brandon O’brien sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $314.98, for a total value of $314,980.00. Following the sale, the chief financial officer now directly owns 6,502 shares in the company, valued at approximately $2,047,999.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 47.57% of the company’s stock.

Institutional Trading of CorVel

Large investors have recently made changes to their positions in the company. Janus Henderson Group PLC increased its position in shares of CorVel by 997.8% during the first quarter. Janus Henderson Group PLC now owns 46,975 shares of the business services provider’s stock worth $12,351,000 after acquiring an additional 42,696 shares during the last quarter. SG Americas Securities LLC bought a new stake in CorVel during the first quarter worth about $896,000. Sei Investments Co. boosted its stake in CorVel by 65.8% in the first quarter. Sei Investments Co. now owns 21,003 shares of the business services provider’s stock valued at $5,523,000 after acquiring an additional 8,338 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in CorVel by 41.8% in the second quarter. Assenagon Asset Management S.A. now owns 115,876 shares of the business services provider’s stock worth $29,464,000 after purchasing an additional 34,155 shares during the period. Finally, Quest Partners LLC increased its stake 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 buying an additional 1,842 shares during the last quarter. 51.36% of the stock is owned by institutional investors and hedge funds.

About CorVel

(Get Free Report)

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.

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