CorVel (NASDAQ:CRVL) Sees Strong Trading Volume – Should You Buy?

CorVel Corp. (NASDAQ:CRVL) saw unusually-high trading volume on Monday . 153,790 shares traded hands during trading, a decline of 29% from the previous session’s volume of 217,971 shares.The stock last traded at $71.3550 and had previously closed at $69.27.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Weiss Ratings raised shares of CorVel from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, September 1st. Wall Street Zen upgraded CorVel from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold”.

CorVel Trading Up 2.8%

The firm has a fifty day moving average price of $64.70 and a 200 day moving average price of $59.72. The firm has a market cap of $3.63 billion, a PE ratio of 31.63 and a beta of 0.97.

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

Insider Activity

In other news, VP Jennifer Yoss sold 2,100 shares of the stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $70.92, for a total value of $148,932.00. Following the completion of the sale, the vice president owned 2,173 shares of the company’s stock, valued at $154,109.16. This represents a 49.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director R. Jessup sold 4,023 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $7,833,685.86. This represents a 3.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 8,947 shares of company stock worth $630,420 over the last quarter. 39.72% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CorVel

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. WINTON GROUP Ltd grew its holdings in shares of CorVel by 0.7% during the 2nd quarter. WINTON GROUP Ltd now owns 22,772 shares of the business services provider’s stock worth $1,424,000 after purchasing an additional 165 shares during the period. IFP Advisors Inc lifted its position in CorVel by 68.3% in the second quarter. IFP Advisors Inc now owns 973 shares of the business services provider’s stock valued at $61,000 after buying an additional 395 shares during the last quarter. Allworth Financial LP boosted its stake in CorVel by 91.7% during the second quarter. Allworth Financial LP now owns 2,220 shares of the business services provider’s stock worth $139,000 after buying an additional 1,062 shares during the period. Nykredit A S purchased a new position in CorVel during the second quarter worth about $80,000. Finally, Corient Private Wealth LP increased its holdings in CorVel by 43.4% in the 2nd quarter. Corient Private Wealth LP now owns 50,913 shares of the business services provider’s stock valued at $3,183,000 after purchasing an additional 15,414 shares during the last quarter. Hedge funds and other institutional investors own 51.36% of the company’s stock.

About CorVel

CorVel Corporation is a provider of workers’ compensation and liability claims management services. The company supports employers, insurance carriers, government entities and other organizations with technology-enabled solutions designed to manage claims, control costs and coordinate medical care.

Its services include third-party claims administration, medical bill review, utilization review, case management, pharmacy benefit management, provider-network services and claims-related analytics.