CorVel (NASDAQ:CRVL) Stock Price Up 7.9% – Time to Buy?

Shares of CorVel Corp. (NASDAQ:CRVL) rose 7.9% on Tuesday . The stock traded as high as $78.75 and last traded at $78.9150. Approximately 18,310 shares changed hands during trading, a decline of 87% from the average daily volume of 144,472 shares. The stock had previously closed at $73.12.

Analyst Upgrades and Downgrades

CRVL has been the subject of several recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of CorVel in a research note on Tuesday, October 14th. Wall Street Zen upgraded shares of CorVel from a “hold” rating to a “buy” rating in a research note on Sunday, October 12th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

CorVel Price Performance

The company has a market cap of $3.87 billion, a price-to-earnings ratio of 38.85 and a beta of 0.98. The firm’s fifty day moving average price is $78.27 and its 200-day moving average price is $93.49.

CorVel (NASDAQ:CRVL) last announced its quarterly earnings results on Tuesday, November 4th. The business services provider reported $0.54 earnings per share (EPS) for the quarter. CorVel had a net margin of 10.98% and a return on equity of 32.31%. The company had revenue of $239.64 million during the quarter.

Insider Buying and Selling at CorVel

In related news, CFO Brandon O’brien sold 1,764 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer owned 8,948 shares of the company’s stock, valued at $819,099.92. This represents a 16.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Maxim Shishin sold 12,000 shares of the company’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $89.16, for a total transaction of $1,069,920.00. Following the completion of the sale, the insider directly owned 7,050 shares of the company’s stock, valued at $628,578. The trade was a 62.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 44.56% of the company’s stock.

Institutional Investors Weigh In On CorVel

Several institutional investors have recently bought and sold shares of CRVL. Principal Financial Group Inc. lifted its holdings in CorVel by 2.7% in the first quarter. Principal Financial Group Inc. now owns 143,654 shares of the business services provider’s stock worth $16,085,000 after purchasing an additional 3,818 shares during the period. Envestnet Asset Management Inc. lifted its holdings in CorVel by 1.6% in the first quarter. Envestnet Asset Management Inc. now owns 49,205 shares of the business services provider’s stock worth $5,509,000 after purchasing an additional 758 shares during the period. Linden Thomas Advisory Services LLC lifted its holdings in CorVel by 12.0% in the first quarter. Linden Thomas Advisory Services LLC now owns 9,322 shares of the business services provider’s stock worth $1,044,000 after purchasing an additional 1,001 shares during the period. Allworth Financial LP lifted its holdings in CorVel by 4,000.0% in the first quarter. Allworth Financial LP now owns 574 shares of the business services provider’s stock worth $64,000 after purchasing an additional 560 shares during the period. Finally, Kesler Norman & Wride LLC lifted its holdings in CorVel by 14.8% in the first quarter. Kesler Norman & Wride LLC now owns 7,928 shares of the business services provider’s stock worth $888,000 after purchasing an additional 1,024 shares during the period. Institutional investors and hedge funds 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.