CorVel (NASDAQ:CRVL) Hits New 12-Month Low – What’s Next?

Shares of CorVel Corp. (NASDAQ:CRVL) reached a new 52-week low during trading on Monday . The company traded as low as $46.71 and last traded at $46.82, with a volume of 44287 shares. The stock had previously closed at $48.67.

Analyst Ratings Changes

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

CorVel Trading Down 0.1%

The company’s fifty day moving average is $66.25 and its 200 day moving average is $75.21. The company has a market cap of $2.38 billion, a P/E ratio of 22.82 and a beta of 1.06.

CorVel (NASDAQ:CRVL) last posted its quarterly earnings results on Tuesday, February 3rd. The business services provider reported $0.47 earnings per share for the quarter. CorVel had a net margin of 11.23% and a return on equity of 30.15%. The business had revenue of $235.63 million during the quarter.

Insider Transactions at CorVel

In other CorVel news, EVP Mark E. Bertels sold 1,200 shares of CorVel stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $72.35, for a total value of $86,820.00. Following the transaction, the executive vice president directly owned 2,594 shares of the company’s stock, valued at $187,675.90. The trade was a 31.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 44.56% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada raised its holdings in CorVel by 12.5% during 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 buying an additional 5,703 shares during the last quarter. AQR Capital Management LLC increased its position in shares of CorVel by 4.0% in the first quarter. AQR Capital Management LLC now owns 26,468 shares of the business services provider’s stock valued at $2,964,000 after acquiring an additional 1,013 shares during the period. Integrated Wealth Concepts LLC raised its stake in shares of 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 acquiring an additional 389 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of 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 acquiring an additional 702 shares during the last quarter. Finally, Millennium Management LLC boosted 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 own 51.36% of the company’s stock.

CorVel Company Profile

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).