CorVel (NASDAQ:CRVL) Stock Price Up 1.1%

CorVel Co. (NASDAQ:CRVLGet Rating) rose 1.1% on Friday . The stock traded as high as $146.92 and last traded at $146.92. Approximately 2 shares changed hands during mid-day trading, a decline of 100% from the average daily volume of 42,577 shares. The stock had previously closed at $145.35.

Analysts Set New Price Targets

Separately, TheStreet raised CorVel from a “c+” rating to a “b” rating in a research report on Friday, July 15th.

CorVel Price Performance

The company has a 50-day moving average price of $158.59 and a two-hundred day moving average price of $156.96. The company has a market cap of $2.47 billion, a PE ratio of 38.01 and a beta of 0.97.

CorVel (NASDAQ:CRVLGet Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The business services provider reported $0.94 EPS for the quarter. The firm had revenue of $176.31 million during the quarter. CorVel had a return on equity of 30.93% and a net margin of 9.89%.

Insider Activity at CorVel

In related news, major shareholder Corstar Holdings Inc sold 5,581 shares of the stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $152.00, for a total value of $848,312.00. Following the completion of the transaction, the insider now owns 6,478,455 shares of the company’s stock, valued at $984,725,160. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other CorVel news, Chairman V Gordon Clemons sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $172.00, for a total transaction of $172,000.00. Following the sale, the chairman now owns 445,920 shares in the company, valued at $76,698,240. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Corstar Holdings Inc sold 5,581 shares of the company’s stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $152.00, for a total value of $848,312.00. Following the sale, the insider now owns 6,478,455 shares in the company, valued at approximately $984,725,160. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 62,454 shares of company stock valued at $9,956,502. Insiders own 48.56% of the company’s stock.

Institutional Trading of CorVel

Several institutional investors and hedge funds have recently bought and sold shares of CRVL. Bank of America Corp DE raised its stake in CorVel by 121.1% during the fourth quarter. Bank of America Corp DE now owns 9,313 shares of the business services provider’s stock valued at $1,937,000 after buying an additional 5,101 shares in the last quarter. Teacher Retirement System of Texas raised its position in shares of CorVel by 19.9% during the 4th quarter. Teacher Retirement System of Texas now owns 1,910 shares of the business services provider’s stock worth $397,000 after purchasing an additional 317 shares during the period. Citigroup Inc. raised its position in shares of CorVel by 35.1% during the 4th quarter. Citigroup Inc. now owns 8,715 shares of the business services provider’s stock worth $1,813,000 after purchasing an additional 2,263 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of CorVel by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 65,150 shares of the business services provider’s stock worth $13,551,000 after purchasing an additional 703 shares during the period. Finally, Invesco Ltd. raised its position in shares of CorVel by 6.5% during the 4th quarter. Invesco Ltd. now owns 150,154 shares of the business services provider’s stock worth $31,232,000 after purchasing an additional 9,223 shares during the period. Institutional investors and hedge funds own 50.55% of the company’s stock.

CorVel Company Profile

(Get Rating)

CorVel Corporation provides workers' compensation, auto, liability, and health solutions for employers, third party administrators, insurance companies, and government agencies to assist them in managing the medical costs and monitoring the quality of care associated with healthcare claims. 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.

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