CorVel (NASDAQ:CRVL) Hits New 1-Year Low – Here’s Why

CorVel Corp. (NASDAQ:CRVL) shares hit a new 52-week low on Tuesday . The company traded as low as $58.55 and last traded at $57.77, with a volume of 62717 shares traded. The stock had previously closed at $69.75.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CRVL. Wall Street Zen cut CorVel from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings restated a “hold (c)” rating on shares of CorVel in a research report on Friday, January 9th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold”.

CorVel Price Performance

The stock has a market cap of $2.64 billion, a price-to-earnings ratio of 25.41 and a beta of 1.06. The firm’s 50-day moving average is $69.70 and its 200 day moving average is $77.27.

CorVel (NASDAQ:CRVL) last released its quarterly earnings data on Tuesday, February 3rd. The business services provider reported $0.47 earnings per share (EPS) for the quarter. CorVel had a net margin of 11.28% and a return on equity of 31.72%.

Insider Transactions at CorVel

In other news, EVP Mark E. Bertels sold 1,200 shares of the business’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $72.35, for a total transaction of $86,820.00. Following the transaction, the executive vice president directly owned 2,594 shares of the company’s stock, valued at approximately $187,675.90. The trade was a 31.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director R Judd Jessup sold 7,076 shares of the firm’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $76.94, for a total transaction of $544,427.44. Following the sale, the director directly owned 115,045 shares of the company’s stock, valued at approximately $8,851,562.30. The trade was a 5.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 11,733 shares of company stock valued at $894,686. Insiders own 44.56% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CRVL. Royal Bank of Canada increased its holdings in shares of CorVel by 12.5% in the 1st quarter. Royal Bank of Canada now owns 51,261 shares of the business services provider’s stock valued at $5,739,000 after acquiring an additional 5,703 shares during the last quarter. AQR Capital Management LLC boosted its holdings in CorVel by 4.0% in the first quarter. AQR Capital Management LLC now owns 26,468 shares of the business services provider’s stock worth $2,964,000 after purchasing an additional 1,013 shares during the period. Integrated Wealth Concepts LLC increased its stake in CorVel by 11.4% during the first quarter. Integrated Wealth Concepts LLC now owns 3,800 shares of the business services provider’s stock valued at $425,000 after purchasing an additional 389 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in CorVel by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,846 shares of the business services provider’s stock valued at $1,774,000 after purchasing an additional 702 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in shares of CorVel by 127.4% during the first quarter. Millennium Management LLC now owns 48,182 shares of the business services provider’s stock worth $5,395,000 after purchasing an additional 26,990 shares during the period. Institutional investors and hedge funds own 51.36% of the company’s stock.

About CorVel

CorVel Corporation (NASDAQ: CRVL) is a technology-driven provider of workers’ compensation, liability, and specialty risk management solutions. The company develops and deploys software and data analytics tools to streamline claims administration, medical cost containment, prescription drug management, and provider network access. CorVel’s integrated platform connects employers, insurers, healthcare providers, and injured workers, aiming to improve outcomes and control costs through process automation and real-time decision support.

The company’s product suite includes claims lifecycle management, bill review and negotiation, virtual care and telehealth services, pharmacy benefit management, and independent medical examinations (IMEs).